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

Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali sold 69,482 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $9.00, for a total transaction of $625,338.00. Following the sale, the chief technology officer now directly owns 2,156,050 shares in the company, valued at approximately $19,404,450. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Udemy Stock Performance

Shares of NASDAQ UDMY opened at $9.78 on Friday. The firm has a market capitalization of $1.43 billion, a P/E ratio of -17.16 and a beta of 1.85. Udemy, Inc. has a one year low of $6.67 and a one year high of $11.65. The company’s fifty day moving average is $8.23 and its two-hundred day moving average is $8.06.

Udemy (NASDAQ:UDMY) last issued its earnings results on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.10). The company 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%. On average, sell-side analysts forecast that Udemy, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on UDMY. Scotiabank began coverage on shares of Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective on the stock. Cantor Fitzgerald cut 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. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Udemy in a report on Friday, February 14th. Morgan Stanley raised their price objective on shares of Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Canaccord Genuity Group lifted their target price on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, Udemy has an average rating of “Moderate Buy” and an average price target of $10.95.

Institutional Investors Weigh In On Udemy

Several institutional investors and hedge funds have recently made changes to their positions in UDMY. Point72 DIFC Ltd acquired a new position in Udemy in the 3rd quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new stake in Udemy during the 4th quarter worth approximately $31,000. Quarry LP acquired a new stake in Udemy during the 4th quarter worth approximately $34,000. Vega Investment Solutions acquired a new stake in Udemy during the 4th quarter worth approximately $46,000. Finally, Nisa Investment Advisors LLC increased its position in Udemy by 496.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after purchasing an additional 6,010 shares in the last quarter. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

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.