Eren Bali Sells 69,482 Shares of Udemy, Inc. (NASDAQ:UDMY) Stock

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

Udemy Price Performance

Shares of NASDAQ UDMY opened at $9.80 on Friday. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -17.19 and a beta of 1.85. The business has a 50-day moving average of $8.19 and a two-hundred day moving average of $8.04. Udemy, Inc. has a 1 year low of $6.67 and a 1 year high of $11.65.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The business had revenue of $199.94 million for the quarter, compared to analysts’ expectations of $194.70 million. Udemy had a negative return on equity of 26.50% and a negative net margin of 10.84%. As a group, equities research analysts expect that Udemy, Inc. will post -0.2 earnings per share for the current year.

Institutional Trading of Udemy

Institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its holdings in Udemy by 360.6% during the 3rd quarter. Barclays PLC now owns 155,719 shares of the company’s stock worth $1,158,000 after buying an additional 121,911 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Udemy in the 3rd quarter valued at about $1,630,000. Algert Global LLC lifted its holdings 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 last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Udemy by 106.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock valued at $1,806,000 after purchasing an additional 125,235 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Udemy by 26.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock valued at $1,476,000 after purchasing an additional 41,145 shares during the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UDMY has been the subject of a number of research reports. Morgan Stanley lifted their price objective on Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Udemy in a research note on Friday, February 14th. Canaccord Genuity Group boosted their target price on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Scotiabank began coverage on Udemy in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price for the company. Finally, Cantor Fitzgerald lowered their target price on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.95.

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.