Insider Selling: Udemy, Inc. (NASDAQ:UDMY) Major Shareholder Sells $25,088,000.00 in Stock

Udemy, Inc. (NASDAQ:UDMY) major shareholder Ltd Naspers sold 3,200,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the transaction, the insider now owns 13,920,840 shares in the company, valued at $109,139,385.60. The trade was a 18.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Udemy Price Performance

Shares of UDMY stock opened at $7.54 on Friday. The company has a 50-day moving average of $8.14 and a two-hundred day moving average of $8.07. Udemy, Inc. has a 1-year low of $6.67 and a 1-year high of $14.74. The firm has a market cap of $1.10 billion, a PE ratio of -11.97 and a beta of 1.87.

Udemy (NASDAQ:UDMY) last posted its earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The firm had revenue of $195.42 million during the quarter, compared to the consensus estimate of $192.69 million. During the same quarter last year, the firm earned ($0.10) EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that Udemy, Inc. will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Udemy

Several hedge funds have recently bought and sold shares of UDMY. Point72 DIFC Ltd acquired a new position in Udemy in the 3rd quarter valued at about $30,000. Nisa Investment Advisors LLC boosted its stake in shares of Udemy by 496.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock valued at $59,000 after purchasing an additional 6,010 shares during the period. Ariadne Wealth Management LP acquired a new position in shares of Udemy in the second quarter valued at approximately $67,000. Victory Capital Management Inc. purchased a new stake in Udemy during the 3rd quarter worth approximately $75,000. Finally, Falcon Wealth Planning acquired a new stake in Udemy during the 4th quarter worth approximately $85,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on UDMY. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Udemy in a report on Friday, January 17th. Scotiabank assumed coverage on Udemy in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective on the stock. Morgan Stanley cut Udemy from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $10.00 to $7.50 in a report on Friday, September 27th. Finally, Cantor Fitzgerald reduced their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.