Insider Selling: Udemy, Inc. (NASDAQ:UDMY) CTO Sells 69,482 Shares of 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 stock was sold at an average price of $9.00, for a total transaction of $625,338.00. Following the sale, the chief technology officer now directly owns 2,156,050 shares of the company’s stock, valued at $19,404,450. This represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Udemy Stock Performance

Shares of NASDAQ:UDMY opened at $10.10 on Thursday. Udemy, Inc. has a 52-week low of $6.67 and a 52-week high of $11.65. The business has a fifty day moving average of $8.16 and a two-hundred day moving average of $8.03.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data 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). Udemy had a negative return on equity of 26.50% and a negative net margin of 10.84%. The firm had revenue of $199.94 million for the quarter, compared to analyst estimates of $194.70 million. On average, analysts expect that Udemy, Inc. will post -0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Scotiabank initiated coverage on Udemy in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Udemy in a research note on Friday, February 14th. Cantor Fitzgerald dropped their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their price objective on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.82.

Institutional Trading of Udemy

Several institutional investors have recently made changes to their positions in UDMY. MetLife Investment Management LLC grew its position in Udemy by 6.2% in the fourth quarter. MetLife Investment Management LLC now owns 59,465 shares of the company’s stock worth $489,000 after acquiring an additional 3,450 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Udemy during the 4th quarter worth $31,000. Point72 DIFC Ltd acquired a new stake in shares of Udemy during the 3rd quarter worth about $30,000. Quarry LP purchased a new stake in Udemy in the 4th quarter valued at about $34,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Udemy by 14.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,064 shares of the company’s stock valued at $297,000 after buying an additional 4,418 shares during the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

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.