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

Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali sold 69,482 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $9.00, for a total transaction of $625,338.00. Following the transaction, the chief technology officer now owns 2,156,050 shares in the company, valued at approximately $19,404,450. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Udemy Stock Performance

Shares of UDMY opened at $10.10 on Thursday. Udemy, Inc. has a 52 week low of $6.67 and a 52 week high of $11.65. The stock’s 50-day moving average price is $8.16 and its 200-day moving average price is $8.03.

Udemy (NASDAQ:UDMY) last released 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). The company had revenue of $199.94 million during 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%. Research analysts predict that Udemy, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Trading of Udemy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Udemy in the third quarter worth about $181,000. Assenagon Asset Management S.A. increased its stake 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 in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Udemy by 28.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 20,433 shares of the company’s stock worth $152,000 after purchasing an additional 4,581 shares during the period. Entropy Technologies LP purchased a new position in Udemy during the third quarter worth approximately $178,000. Finally, Victory Capital Management Inc. purchased a new position in Udemy during the third quarter worth approximately $75,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on UDMY shares. Scotiabank initiated coverage on shares of Udemy in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price on the stock. Canaccord Genuity Group boosted their price objective on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of Udemy in a research note on Friday, February 14th. Finally, Cantor Fitzgerald dropped their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.82.

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.