Insider Selling: Udemy, Inc. (NASDAQ:UDMY) CEO Sells 10,000 Shares of Stock

Udemy, Inc. (NASDAQ:UDMY) CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the sale, the chief executive officer now owns 1,203,727 shares in the company, valued at $10,231,679.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Udemy Trading Down 4.0 %

UDMY stock traded down $0.33 during trading on Thursday, reaching $7.84. The stock had a trading volume of 966,215 shares, compared to its average volume of 905,433. The stock’s 50 day moving average is $7.96 and its two-hundred day moving average is $8.51. The firm has a market cap of $1.18 billion, a PE ratio of -12.97 and a beta of 1.97. Udemy, Inc. has a 52 week low of $6.67 and a 52 week high of $16.01.

Udemy (NASDAQ:UDMY) last announced its earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). Udemy had a negative net margin of 11.39% and a negative return on equity of 26.62%. The business had revenue of $194.36 million for the quarter, compared to the consensus estimate of $194.17 million. On average, research analysts anticipate that Udemy, Inc. will post -0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on UDMY. Needham & Company LLC lowered their price objective on Udemy from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday. Canaccord Genuity Group began coverage on shares of Udemy in a report on Thursday, August 8th. They issued a “buy” rating and a $12.00 price objective on the stock. KeyCorp lowered their target price on shares of Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Canaccord Genuity Group started coverage on Udemy in a research note on Thursday, August 8th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Morgan Stanley cut Udemy from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $10.00 to $7.50 in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Institutional Investors Weigh In On Udemy

A number of hedge funds have recently modified their holdings of the business. Ariadne Wealth Management LP bought a new position in shares of Udemy in the second quarter worth approximately $67,000. Quest Partners LLC grew its holdings in Udemy by 6,957.5% during the 2nd quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock valued at $77,000 after buying an additional 8,836 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Udemy in the second quarter worth $93,000. Natixis lifted its stake in Udemy by 60.8% in the 1st quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after purchasing an additional 3,391 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after buying an additional 1,904 shares in the last quarter. Institutional investors own 79.48% of the company’s stock.

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.