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

Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali sold 69,482 shares of the stock in a transaction 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 $19,404,450. This trade represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Udemy Price Performance

Shares of UDMY stock opened at $9.78 on Friday. The firm has a market cap of $1.43 billion, a PE ratio of -17.16 and a beta of 1.85. The company has a 50-day moving average of $8.23 and a two-hundred day moving average of $8.06. Udemy, Inc. has a 1-year low of $6.67 and a 1-year high of $11.65.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.10). Udemy had a negative net margin of 10.84% and a negative return on equity of 26.50%. The business had revenue of $199.94 million during the quarter, compared to analysts’ expectations of $194.70 million. Sell-side analysts anticipate that Udemy, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vega Investment Solutions purchased a new position in Udemy in the fourth quarter worth approximately $46,000. PharVision Advisers LLC purchased a new position in Udemy in the fourth quarter worth approximately $144,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Udemy by 17.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,864 shares of the company’s stock worth $1,497,000 after acquiring an additional 27,673 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in Udemy by 11.5% in the fourth quarter. Voloridge Investment Management LLC now owns 254,072 shares of the company’s stock worth $2,091,000 after acquiring an additional 26,289 shares during the last quarter. Finally, Wexford Capital LP purchased a new position in Udemy in the fourth quarter worth approximately $99,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Analysts Set New Price Targets

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

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.