Ltd Naspers Sells 3,200,000 Shares of Udemy, Inc. (NASDAQ:UDMY) Stock

Udemy, Inc. (NASDAQ:UDMY) major shareholder Ltd Naspers sold 3,200,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the transaction, the insider now directly owns 13,920,840 shares in the company, valued at approximately $109,139,385.60. The trade was a 18.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Udemy Trading Up 0.7 %

Shares of NASDAQ:UDMY opened at $7.49 on Friday. The company has a market cap of $1.09 billion, a PE ratio of -11.89 and a beta of 1.87. The company’s 50 day moving average is $8.16 and its two-hundred day moving average is $8.09. Udemy, Inc. has a 52 week low of $6.67 and a 52 week high of $14.74.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The business had revenue of $195.42 million during the quarter, compared to analysts’ expectations of $192.69 million. During the same period in the prior year, the firm posted ($0.10) EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts expect that Udemy, Inc. will post -0.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on UDMY shares. Scotiabank initiated coverage on Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target for the company. Cantor Fitzgerald reduced their price target on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley cut shares of Udemy from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $10.00 to $7.50 in a research report on Friday, September 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Udemy in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.92.

Institutional Trading of Udemy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sea Cliff Partners Management LP raised its stake in Udemy by 27.9% during the 2nd quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after acquiring an additional 811,702 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Udemy by 0.3% in the third quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock valued at $16,497,000 after acquiring an additional 5,972 shares during the period. State Street Corp raised its position in Udemy by 0.8% in the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company’s stock valued at $14,392,000 after purchasing an additional 15,339 shares during the last quarter. FMR LLC grew its position in Udemy by 2.8% during the 3rd quarter. FMR LLC now owns 1,330,073 shares of the company’s stock worth $9,896,000 after purchasing an additional 36,380 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Udemy by 1.1% in the third quarter. Royce & Associates LP now owns 944,059 shares of the company’s stock valued at $7,024,000 after buying an additional 10,650 shares during the last quarter. Institutional investors and hedge funds 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.