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

Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali sold 69,482 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $9.00, for a total value of $625,338.00. Following the completion of the sale, the chief technology officer now directly owns 2,156,050 shares of the company’s stock, valued at $19,404,450. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Udemy Trading Down 3.0 %

NASDAQ UDMY opened at $9.80 on Friday. The business’s 50 day moving average is $8.19 and its two-hundred day moving average is $8.04. Udemy, Inc. has a 12-month low of $6.67 and a 12-month high of $11.65. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -17.19 and a beta of 1.85.

Udemy (NASDAQ:UDMY) last released its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.10). The business had revenue of $199.94 million for the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative return on equity of 26.50% and a negative net margin of 10.84%. Equities analysts forecast that Udemy, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on UDMY shares. 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 report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Udemy in a research report on Friday, February 14th. Canaccord Genuity Group boosted their price target on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Morgan Stanley boosted their price target on Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, Scotiabank started coverage on Udemy in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target on the stock. 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.95.

Institutional Investors Weigh In On Udemy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vega Investment Solutions acquired a new stake in shares of Udemy in the 4th quarter worth approximately $46,000. PharVision Advisers LLC acquired a new stake in shares of Udemy in the 4th quarter worth approximately $144,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Udemy by 17.9% in the 4th 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 period. Voloridge Investment Management LLC grew its holdings in shares of Udemy by 11.5% in the 4th 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 period. Finally, Wexford Capital LP acquired a new stake in shares of Udemy in the 4th quarter worth approximately $99,000. 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.