Udemy, Inc. (NASDAQ:UDMY) CTO Sells $625,338.00 in Stock

Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali sold 69,482 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $9.00, for a total transaction of $625,338.00. Following the completion of the transaction, the chief technology officer now directly owns 2,156,050 shares in the company, valued at $19,404,450. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Udemy Price Performance

Shares of UDMY stock traded up $0.15 during trading hours on Wednesday, reaching $10.10. 2,518,045 shares of the stock were exchanged, compared to its average volume of 1,034,451. The business’s fifty day moving average is $8.16 and its two-hundred day moving average is $8.03. The firm has a market capitalization of $1.47 billion, a P/E ratio of -17.72 and a beta of 1.85. Udemy, Inc. has a 12-month low of $6.67 and a 12-month high of $11.65.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 26.50%. As a group, equities research analysts predict that Udemy, Inc. will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in UDMY. Geode Capital Management LLC lifted its stake in Udemy by 0.3% during the third quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock worth $16,497,000 after purchasing an additional 5,972 shares during the last quarter. State Street Corp raised its holdings in Udemy by 0.8% during the third quarter. State Street Corp now owns 1,934,473 shares of the company’s stock worth $14,392,000 after purchasing an additional 15,339 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Udemy by 1,985.5% in the 4th quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company’s stock valued at $11,296,000 after buying an additional 1,306,778 shares in the last quarter. FMR LLC boosted its holdings in shares of Udemy by 2.8% in the 3rd quarter. FMR LLC now owns 1,330,073 shares of the company’s stock valued at $9,896,000 after buying an additional 36,380 shares in the last quarter. Finally, Royce & Associates LP grew its position in shares of Udemy by 18.6% in the 4th quarter. Royce & Associates LP now owns 1,119,359 shares of the company’s stock valued at $9,212,000 after buying an additional 175,300 shares during the last quarter. 79.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UDMY has been the topic of several recent analyst reports. Cantor Fitzgerald decreased their price objective on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Scotiabank initiated coverage on Udemy in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target for the company. Canaccord Genuity Group boosted their price objective on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Udemy in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.82.

Udemy Company Profile

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.