Insider Selling: Udemy, Inc. (NASDAQ:UDMY) Director Sells 14,840 Shares of Stock

Udemy, Inc. (NASDAQ:UDMY) Director Heather Hiles sold 14,840 shares of Udemy stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total value of $145,580.40. Following the completion of the transaction, the director now owns 42,667 shares of the company’s stock, valued at approximately $418,563.27. This represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Udemy Price Performance

NASDAQ:UDMY traded up $0.15 during mid-day trading on Wednesday, hitting $10.10. The company’s stock had a trading volume of 2,518,045 shares, compared to its average volume of 1,034,451. Udemy, Inc. has a 1 year low of $6.67 and a 1 year high of $11.65. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -17.72 and a beta of 1.85. The business’s fifty day moving average is $8.16 and its two-hundred day moving average is $8.03.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.10). Udemy had a negative net margin of 10.84% and a negative return on equity of 26.50%. The business had revenue of $199.94 million during the quarter, compared to analysts’ expectations of $194.70 million. Analysts anticipate that Udemy, Inc. will post -0.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Udemy in a research report on Friday, February 14th. Scotiabank assumed coverage on Udemy in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price for the company. Cantor Fitzgerald dropped their target price 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 boosted their target price on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.82.

Institutional Investors Weigh In On Udemy

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Udemy by 0.3% in the third quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock valued at $16,497,000 after purchasing an additional 5,972 shares during the last quarter. State Street Corp raised its position in shares of Udemy by 0.8% in the third quarter. State Street Corp now owns 1,934,473 shares of the company’s stock worth $14,392,000 after acquiring an additional 15,339 shares during the period. Federated Hermes Inc. raised its position in shares of 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. FMR LLC raised its position in shares of Udemy by 2.8% in the third quarter. FMR LLC now owns 1,330,073 shares of the company’s stock worth $9,896,000 after acquiring an additional 36,380 shares during the period. Finally, Royce & Associates LP raised its position in shares of Udemy by 18.6% in the fourth quarter. Royce & Associates LP now owns 1,119,359 shares of the company’s stock worth $9,212,000 after acquiring an additional 175,300 shares during the period. 79.48% of the stock is owned by hedge funds and other institutional investors.

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.