Udemy, Inc. (NASDAQ:UDMY) CTO Sells $80,200.00 in Stock

Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali sold 10,000 shares of Udemy stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.02, for a total value of $80,200.00. Following the completion of the sale, the chief technology officer now directly owns 2,146,050 shares of the company’s stock, valued at approximately $17,211,321. This represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Eren Bali also recently made the following trade(s):

• On Friday, February 14th, Eren Bali sold 69,482 shares of Udemy stock. The shares were sold at an average price of $9.00, for a total value of $625,338.00.

Udemy Price Performance

Shares of UDMY opened at $8.56 on Thursday. The stock’s 50-day moving average is $8.56 and its two-hundred day moving average is $8.24. The stock has a market cap of $1.26 billion, a PE ratio of -15.02 and a beta of 1.76. Udemy, Inc. has a 12 month low of $6.67 and a 12 month high of $11.60.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The company had revenue of $199.94 million for the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. On average, research analysts anticipate that Udemy, Inc. will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vega Investment Solutions acquired a new position in shares of Udemy in the fourth quarter worth about $46,000. PharVision Advisers LLC acquired a new position in shares of Udemy in the fourth quarter worth about $144,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Udemy by 17.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,864 shares of the company’s stock worth $1,497,000 after acquiring an additional 27,673 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in shares of Udemy by 11.5% in the fourth quarter. Voloridge Investment Management LLC now owns 254,072 shares of the company’s stock worth $2,091,000 after acquiring an additional 26,289 shares in the last quarter. Finally, Wexford Capital LP acquired a new position in shares of Udemy in the fourth quarter worth about $99,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on UDMY shares. Canaccord Genuity Group lifted their price objective on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Morgan Stanley lifted their price objective on Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. William Blair downgraded Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. Scotiabank initiated coverage on Udemy in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of Udemy in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

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.