Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali Sells 35,518 Shares

Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali sold 35,518 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total transaction of $319,662.00. Following the completion of the transaction, the chief technology officer now owns 2,225,532 shares of the company’s stock, valued at $20,029,788. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Udemy Stock Up 1.8 %

Shares of NASDAQ UDMY opened at $8.89 on Friday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -14.11 and a beta of 1.95. Udemy, Inc. has a 52 week low of $6.67 and a 52 week high of $16.01. The firm has a 50-day moving average price of $7.98 and a 200 day moving average price of $8.45.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.01 by $0.06. The business had revenue of $195.42 million for the quarter, compared to analyst estimates of $192.69 million. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) EPS. Equities research analysts expect that Udemy, Inc. will post -0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on UDMY shares. Cantor Fitzgerald decreased 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. Bank of America lowered shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 target price on the stock. in a research report on Thursday, August 1st. Truist Financial reduced their price target on shares of Udemy from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Canaccord Genuity Group assumed coverage on shares of Udemy in a research note on Thursday, August 8th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Robert W. Baird lowered their price target on Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Hedge Funds Weigh In On Udemy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UDMY. Royce & Associates LP lifted its position in shares of Udemy by 1.1% in the third quarter. Royce & Associates LP now owns 944,059 shares of the company’s stock valued at $7,024,000 after acquiring an additional 10,650 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Udemy in the 3rd quarter valued at about $75,000. Entropy Technologies LP purchased a new position in Udemy in the 3rd quarter valued at about $178,000. Harbor Capital Advisors Inc. boosted its stake in shares of Udemy by 28.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 20,433 shares of the company’s stock worth $152,000 after purchasing an additional 4,581 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Udemy by 106.5% during the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock worth $1,806,000 after buying an additional 125,235 shares in the last quarter. Institutional investors and hedge funds own 79.48% of the company’s stock.

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.