Hugo Sarrazin Buys 3,400 Shares of Udemy, Inc. (NASDAQ:UDMY) Stock

Udemy, Inc. (NASDAQ:UDMY) CEO Hugo Sarrazin bought 3,400 shares of the stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $6.99 per share, with a total value of $23,766.00. Following the completion of the acquisition, the chief executive officer now owns 3,400 shares of the company’s stock, valued at $23,766. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Udemy Trading Up 1.1%

Udemy stock opened at $7.12 on Friday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -12.49 and a beta of 1.82. The firm’s fifty day moving average price is $7.15 and its two-hundred day moving average price is $7.95. Udemy, Inc. has a 1-year low of $5.68 and a 1-year high of $10.61.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $200.30 million for the quarter, compared to analysts’ expectations of $197.19 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 EPS. On average, research analysts forecast that Udemy, Inc. will post -0.09 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its position in shares of Udemy by 1,814.5% during the first quarter. Assenagon Asset Management S.A. now owns 2,678,641 shares of the company’s stock valued at $20,786,000 after buying an additional 2,538,728 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Udemy by 1,985.5% during the 4th quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company’s stock worth $11,296,000 after acquiring an additional 1,306,778 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Udemy by 12.2% in the 1st quarter. Vanguard Group Inc. now owns 10,663,298 shares of the company’s stock worth $82,747,000 after acquiring an additional 1,156,006 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Udemy in the fourth quarter valued at about $5,911,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Udemy in the fourth quarter valued at about $4,119,000. Institutional investors own 79.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on UDMY shares. William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. Cantor Fitzgerald cut their target price on shares of Udemy from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Udemy in a report on Thursday, May 1st. Truist Financial reiterated a “hold” rating and set a $7.00 price objective (down previously from $10.00) on shares of Udemy in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Udemy from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Udemy currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.86.

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.