Insider Selling: Udemy, Inc. (NASDAQ:UDMY) Director Sells 15,000 Shares of Stock

Udemy, Inc. (NASDAQ:UDMY) Director Eren Bali sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $9.10, for a total transaction of $136,500.00. Following the sale, the director now owns 1,639,477 shares of the company’s stock, valued at $14,919,240.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Eren Bali also recently made the following trade(s):

• On Tuesday, June 11th, Eren Bali sold 400 shares of Udemy stock. The shares were sold at an average price of $9.00, for a total transaction of $3,600.00.

Udemy Trading Up 2.5 %

Shares of NASDAQ UDMY traded up $0.22 during mid-day trading on Tuesday, reaching $9.14. The company had a trading volume of 908,094 shares, compared to its average volume of 902,899. The business’s 50-day moving average is $8.59 and its 200-day moving average is $10.43. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -16.83 and a beta of 2.00. Udemy, Inc. has a 52 week low of $7.91 and a 52 week high of $16.01.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Udemy had a negative net margin of 10.82% and a negative return on equity of 23.10%. The firm had revenue of $196.85 million for the quarter, compared to analysts’ expectations of $194.83 million. As a group, equities research analysts forecast that Udemy, Inc. will post -0.45 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on UDMY shares. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 target price on shares of Udemy in a research report on Friday, May 3rd. Morgan Stanley lowered their price target on shares of Udemy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. KeyCorp lowered their price target on shares of Udemy from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Jefferies Financial Group lowered their price target on shares of Udemy from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, April 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Udemy in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.80.

Institutional Trading of Udemy

Hedge funds have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. lifted its stake in Udemy by 261.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock worth $70,000 after acquiring an additional 3,420 shares during the period. RIA Advisory Group LLC purchased a new stake in shares of Udemy during the fourth quarter valued at about $76,000. Natixis lifted its position in shares of Udemy by 60.8% during the first quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after buying an additional 3,391 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Udemy by 18.8% during the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after buying an additional 1,904 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Udemy by 10.7% during the first quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after buying an additional 1,553 shares during the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

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.