Udemy, Inc. (NASDAQ:UDMY) CEO Sells $85,000.00 in Stock

Udemy, Inc. (NASDAQ:UDMY) CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,273,406 shares in the company, valued at $10,823,951. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Udemy Stock Performance

NASDAQ UDMY opened at $8.64 on Thursday. Udemy, Inc. has a twelve month low of $7.91 and a twelve month high of $16.01. The stock’s 50 day moving average is $9.11 and its 200 day moving average is $11.18.

Udemy (NASDAQ:UDMY) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. The company had revenue of $196.85 million for the quarter, compared to analyst estimates of $194.83 million. As a group, equities analysts predict that Udemy, Inc. will post -0.45 EPS for the current year.

Institutional Investors Weigh In On Udemy

Hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. boosted its holdings in Udemy by 261.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock worth $70,000 after acquiring an additional 3,420 shares in the last quarter. RIA Advisory Group LLC bought a new stake in Udemy in the fourth quarter worth $76,000. Natixis boosted its holdings in Udemy by 60.8% in the first quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after acquiring an additional 3,391 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after acquiring an additional 1,904 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Udemy by 5.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,903 shares of the company’s stock worth $205,000 after acquiring an additional 732 shares in the last quarter. 79.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on UDMY. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Udemy in a research note on Friday, May 3rd. TheStreet cut Udemy from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Robert W. Baird reduced their target price on Udemy from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. KeyCorp reduced their target price on Udemy from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of Udemy in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Udemy presently has an average rating of “Moderate Buy” and an average price target of $13.90.

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.