Gregory Scott Brown Sells 10,000 Shares of Udemy, Inc. (NASDAQ:UDMY) Stock

Udemy, Inc. (NASDAQ:UDMY) CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $9.43, for a total transaction of $94,300.00. Following the transaction, the chief executive officer now directly owns 1,141,896 shares of the company’s stock, valued at approximately $10,768,079.28. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Udemy Trading Down 2.0 %

Shares of UDMY stock opened at $9.17 on Friday. Udemy, Inc. has a 12-month low of $6.67 and a 12-month high of $11.65. The firm’s 50 day moving average is $8.54 and its 200 day moving average is $8.22. The stock has a market capitalization of $1.35 billion, a P/E ratio of -16.09 and a beta of 1.76.

Udemy (NASDAQ:UDMY) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The business had revenue of $199.94 million during the quarter, compared to the consensus estimate of $194.70 million. As a group, equities analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Canaccord Genuity Group increased their price target on shares of Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Scotiabank assumed coverage on shares of Udemy in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Udemy in a research note on Friday, February 14th. 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in UDMY. Federated Hermes Inc. raised its position in Udemy by 1,985.5% in the fourth 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 period. Millennium Management LLC bought a new stake in shares of Udemy during the 4th quarter valued at $5,911,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Udemy during the 4th quarter valued at $4,119,000. Summit Trail Advisors LLC raised its position in shares of Udemy by 939.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company’s stock valued at $2,729,000 after purchasing an additional 331,521 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Udemy by 97.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 628,510 shares of the company’s stock valued at $5,173,000 after purchasing an additional 310,003 shares during the period. 79.48% of the stock is currently owned by institutional investors.

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.