Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali Sells 10,000 Shares

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

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 Stock Up 2.3 %

Shares of Udemy stock traded up $0.19 during trading on Monday, hitting $8.39. 1,301,818 shares of the company were exchanged, compared to its average volume of 901,696. The firm has a 50 day moving average price of $8.57 and a 200 day moving average price of $8.24. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -14.72 and a beta of 1.76. Udemy, Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $11.60.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data 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). The company had revenue of $199.94 million during the quarter, compared to analysts’ expectations of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. Analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on UDMY shares. Canaccord Genuity Group increased their price objective on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Scotiabank began coverage on shares of Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective on the stock. Morgan Stanley upped their target price on shares of Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Udemy in a research report on Wednesday, March 12th. Finally, William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.95.

Hedge Funds Weigh In On Udemy

Institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Management LLC increased its stake in shares of Udemy by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 59,465 shares of the company’s stock valued at $489,000 after acquiring an additional 3,450 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Udemy during the fourth quarter worth approximately $31,000. Point72 DIFC Ltd acquired a new position in shares of Udemy in the 3rd quarter valued at $30,000. Quarry LP acquired a new position in shares of Udemy in the 4th quarter valued at $34,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Udemy by 14.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,064 shares of the company’s stock valued at $297,000 after buying an additional 4,418 shares during the period. Hedge funds and other institutional investors 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.