Gregory Scott Brown Sells 10,000 Shares of Udemy, Inc. (NASDAQ:UDMY) Stock

Udemy, Inc. (NASDAQ:UDMY) CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $8.71, for a total transaction of $87,100.00. Following the completion of the sale, the chief executive officer now owns 1,183,086 shares in the company, valued at $10,304,679.06. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Gregory Scott Brown also recently made the following trade(s):

• On Tuesday, October 29th, Gregory Scott Brown sold 10,000 shares of Udemy stock. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00.

Udemy Trading Up 2.2 %

UDMY opened at $8.50 on Wednesday. Udemy, Inc. has a 12-month low of $6.67 and a 12-month high of $16.01. The firm has a 50 day moving average of $8.07 and a two-hundred day moving average of $8.14. The firm has a market capitalization of $1.24 billion, a PE ratio of -13.49 and a beta of 1.91.

Udemy (NASDAQ:UDMY) last posted its earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The company had revenue of $195.42 million during the quarter, compared to the consensus estimate of $192.69 million. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) earnings per share. As a group, analysts predict that Udemy, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Trading of Udemy

Hedge funds have recently modified their holdings of the stock. Sea Cliff Partners Management LP lifted its holdings in Udemy by 27.9% in the second quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock valued at $32,154,000 after acquiring an additional 811,702 shares during the period. Verition Fund Management LLC purchased a new position in shares of Udemy during the 3rd quarter valued at approximately $1,630,000. Algert Global LLC lifted its stake in shares of Udemy by 45.0% in the 3rd quarter. Algert Global LLC now owns 346,062 shares of the company’s stock valued at $2,575,000 after purchasing an additional 107,390 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Udemy by 106.5% during the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock worth $1,806,000 after buying an additional 125,235 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Udemy during the third quarter valued at $161,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Scotiabank initiated coverage on shares of Udemy in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target on the stock. Cantor Fitzgerald dropped their target price on Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley cut Udemy from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $10.00 to $7.50 in a research note on Friday, September 27th. Finally, Needham & Company LLC dropped their price target on Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.92.

About Udemy

Udemy, Inc, a learning company, that operates a marketplace platform for learning skills in the United States and internationally. The company offers skill acquisition, development, and validation courses for organizations and individuals, through direct-to-consumer or Udemy Business offerings in various languages.