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

Udemy, Inc. (NASDAQ:UDMY) CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $9.43, for a total value of $94,300.00. Following the transaction, the chief executive officer now directly owns 1,141,896 shares in the company, valued at approximately $10,768,079.28. This trade represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Udemy Stock Down 2.0 %

UDMY stock opened at $9.17 on Monday. The firm has a market cap of $1.35 billion, a PE ratio of -16.09 and a beta of 1.76. The business has a 50 day moving average of $8.54 and a 200-day moving average of $8.22. Udemy, Inc. has a 12-month low of $6.67 and a 12-month high of $11.65.

Udemy (NASDAQ:UDMY) last released its earnings results 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 net margin of 10.84% and a negative return on equity of 27.93%. The business had revenue of $199.94 million during the quarter, compared to the consensus estimate of $194.70 million. On average, research analysts expect that Udemy, Inc. will post -0.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Scotiabank assumed coverage on Udemy in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target on the stock. Morgan Stanley boosted their price objective on Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Udemy in a report on Friday, February 14th. Finally, Canaccord Genuity Group boosted their price objective on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

Hedge Funds Weigh In On Udemy

Institutional investors have recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new position in Udemy in the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Udemy during the fourth quarter worth $31,000. Quarry LP purchased a new stake in shares of Udemy during the fourth quarter worth $34,000. Vega Investment Solutions purchased a new stake in shares of Udemy during the fourth quarter worth $46,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Udemy by 496.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after acquiring an additional 6,010 shares in the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

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.