Udemy, Inc. (NASDAQ:UDMY) CTO Sells $80,200.00 in Stock

Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.02, for a total value of $80,200.00. Following the sale, the chief technology officer now owns 2,146,050 shares in the company, valued at $17,211,321. The trade was a 0.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Eren Bali also recently made the following trade(s):

• On Friday, February 14th, Eren Bali sold 69,482 shares of Udemy stock. The shares were sold at an average price of $9.00, for a total value of $625,338.00.

Udemy Price Performance

Shares of UDMY stock opened at $8.56 on Thursday. Udemy, Inc. has a 12-month low of $6.67 and a 12-month high of $11.60. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -15.02 and a beta of 1.76. The business has a 50 day simple moving average of $8.56 and a 200 day simple moving average of $8.24.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $194.70 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. On average, equities analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Udemy

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its position in Udemy by 360.6% in the third quarter. Barclays PLC now owns 155,719 shares of the company’s stock worth $1,158,000 after purchasing an additional 121,911 shares during the period. Verition Fund Management LLC acquired a new stake in Udemy in the third quarter worth approximately $1,630,000. SBI Securities Co. Ltd. acquired a new stake in Udemy in the fourth quarter worth approximately $31,000. Algert Global LLC lifted its position in Udemy by 45.0% in the third quarter. Algert Global LLC now owns 346,062 shares of the company’s stock worth $2,575,000 after purchasing an additional 107,390 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Udemy by 26.2% in the third quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock worth $1,476,000 after purchasing an additional 41,145 shares during the period. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on UDMY. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Udemy in a research note on Wednesday, March 12th. Morgan Stanley upped their target price on Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. William Blair lowered Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. Canaccord Genuity Group upped their target price on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Scotiabank assumed coverage on Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.