Udemy, Inc. (NASDAQ:UDMY) CEO Buys $37,969.68 in Stock

Udemy, Inc. (NASDAQ:UDMY) CEO Hugo Sarrazin bought 5,432 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average cost of $6.99 per share, with a total value of $37,969.68. Following the completion of the purchase, the chief executive officer now directly owns 8,832 shares of the company’s stock, valued at $61,735.68. This represents a 159.76% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Hugo Sarrazin also recently made the following trade(s):

• On Monday, May 19th, Hugo Sarrazin bought 1,768 shares of Udemy stock. The shares were bought at an average cost of $6.98 per share, with a total value of $12,340.64.
• On Monday, May 12th, Hugo Sarrazin bought 3,400 shares of Udemy stock. The shares were bought at an average cost of $6.99 per share, with a total value of $23,766.00.

Udemy Stock Up 0.1%

Shares of NASDAQ:UDMY opened at $6.99 on Wednesday. Udemy, Inc. has a 52 week low of $5.68 and a 52 week high of $10.61. The firm has a fifty day simple moving average of $7.06 and a two-hundred day simple moving average of $7.92. The stock has a market capitalization of $1.04 billion, a P/E ratio of -12.26 and a beta of 1.82.

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

Hedge Funds Weigh In On Udemy

Large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Udemy during the 4th quarter worth about $31,000. Quarry LP purchased a new position in shares of Udemy during the 4th quarter worth about $34,000. Vega Investment Solutions purchased a new position in shares of Udemy during the 4th quarter worth about $46,000. GAMMA Investing LLC boosted its stake in shares of Udemy by 558.3% during the 1st quarter. GAMMA Investing LLC now owns 6,945 shares of the company’s stock worth $54,000 after purchasing an additional 5,890 shares during the period. Finally, State of Wyoming purchased a new position in shares of Udemy during the 4th quarter worth about $59,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on UDMY. William Blair cut shares of Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price objective on shares of Udemy from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Morgan Stanley dropped their price objective on shares of Udemy from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Canaccord Genuity Group dropped their price objective on shares of Udemy from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Udemy in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.