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 Friday, December 6th. The stock was sold at an average price of $8.71, for a total value of $87,100.00. Following the transaction, the chief executive officer now directly owns 1,183,086 shares of the company’s stock, valued at approximately $10,304,679.06. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Gregory Scott Brown also recently made the following trade(s):

• On Tuesday, October 29th, Gregory Scott Brown sold 10,000 shares of Udemy stock. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00.

Udemy Trading Up 2.2 %

Udemy stock opened at $8.50 on Wednesday. The company has a 50-day moving average price of $8.07 and a 200 day moving average price of $8.14. Udemy, Inc. has a 12-month low of $6.67 and a 12-month high of $16.01. The stock has a market cap of $1.24 billion, a P/E ratio of -13.49 and a beta of 1.91.

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

Hedge Funds Weigh In On Udemy

Hedge funds have recently modified their holdings of the business. Barclays PLC raised its holdings in Udemy by 360.6% in the 3rd quarter. Barclays PLC now owns 155,719 shares of the company’s stock valued at $1,158,000 after buying an additional 121,911 shares during the period. Geode Capital Management LLC increased its position in shares of Udemy by 0.3% during the third quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock valued at $16,497,000 after acquiring an additional 5,972 shares during the last quarter. State Street Corp raised its stake in shares of Udemy by 0.8% in the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company’s stock valued at $14,392,000 after acquiring an additional 15,339 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Udemy in the 3rd quarter worth approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Udemy during the 3rd quarter worth approximately $103,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UDMY. Scotiabank assumed coverage on shares of Udemy in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 target price on the stock. Cantor Fitzgerald decreased their price target on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley lowered Udemy from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $10.00 to $7.50 in a research note on Friday, September 27th. Finally, Needham & Company LLC decreased their target price on Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.92.

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.