Gregory Scott Brown Sells 10,000 Shares of Udemy, Inc. (NASDAQ:UDMY) Stock

Udemy, Inc. (NASDAQ:UDMY) CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the sale, the chief executive officer now owns 1,273,406 shares of the company’s stock, valued at $10,823,951. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Udemy Trading Up 0.9 %

NASDAQ UDMY opened at $8.58 on Wednesday. The firm has a 50-day simple moving average of $9.14 and a 200 day simple moving average of $11.20. Udemy, Inc. has a twelve month low of $7.91 and a twelve month high of $16.01.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. Udemy had a negative net margin of 10.82% and a negative return on equity of 23.10%. The firm had revenue of $196.85 million during the quarter, compared to analyst estimates of $194.83 million. As a group, sell-side analysts expect that Udemy, Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

UDMY has been the subject of a number of recent analyst reports. TheStreet cut shares of Udemy from a “c-” rating to a “d+” rating in a report on Wednesday, March 6th. Morgan Stanley decreased their price target on shares of Udemy from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Jefferies Financial Group decreased their price target on shares of Udemy from $14.00 to $11.00 and set a “hold” rating for the company in a report on Monday, April 29th. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Udemy in a report on Friday, May 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of Udemy in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Udemy has an average rating of “Moderate Buy” and an average target price of $13.90.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Pathway Capital Management LP acquired a new position in Udemy in the fourth quarter worth about $3,983,000. Partners Group Holding AG acquired a new position in Udemy in the fourth quarter worth about $1,928,000. Invenomic Capital Management LP raised its position in Udemy by 5.5% in the fourth quarter. Invenomic Capital Management LP now owns 2,234,835 shares of the company’s stock worth $32,919,000 after purchasing an additional 116,432 shares in the last quarter. Greenvale Capital LLP raised its position in Udemy by 2.3% in the fourth quarter. Greenvale Capital LLP now owns 6,600,000 shares of the company’s stock worth $97,218,000 after purchasing an additional 150,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Udemy by 19.3% during the third quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock worth $84,175,000 after buying an additional 1,433,980 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.