Udemy, Inc. (NASDAQ:UDMY) CFO Sells $362,250.00 in Stock

Udemy, Inc. (NASDAQ:UDMY) CFO Sarah Blanchard sold 45,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total value of $362,250.00. Following the completion of the transaction, the chief financial officer now directly owns 1,001,761 shares in the company, valued at $8,064,176.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Udemy Price Performance

UDMY stock opened at $8.14 on Friday. The company has a market capitalization of $1.25 billion, a PE ratio of -15.36 and a beta of 2.01. Udemy, Inc. has a 12 month low of $6.67 and a 12 month high of $16.01. The firm’s 50-day moving average is $8.13 and its 200 day moving average is $9.63.

Udemy (NASDAQ:UDMY) last issued its earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). The firm had revenue of $194.36 million during the quarter, compared to analysts’ expectations of $194.17 million. Udemy had a negative return on equity of 26.62% and a negative net margin of 11.39%. Sell-side analysts forecast that Udemy, Inc. will post -0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Bank of America downgraded Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price objective on the stock. in a research report on Thursday, August 1st. KeyCorp cut their target price on Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Canaccord Genuity Group initiated coverage on Udemy in a research note on Thursday, August 8th. They issued a “buy” rating and a $12.00 price target for the company. Finally, Cantor Fitzgerald raised shares of Udemy to a “strong-buy” rating in a report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Udemy has an average rating of “Moderate Buy” and an average price target of $12.38.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Sea Cliff Partners Management LP bought a new position in shares of Udemy during the fourth quarter valued at approximately $25,661,000. Inflection Point Investments LLP purchased a new stake in Udemy during the fourth quarter worth $21,390,000. Silvercrest Asset Management Group LLC bought a new stake in Udemy during the 1st quarter valued at $8,109,000. Invenomic Capital Management LP increased its holdings in shares of Udemy by 22.9% in the 1st quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company’s stock valued at $30,167,000 after acquiring an additional 512,618 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Udemy by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 9,355,870 shares of the company’s stock worth $137,812,000 after acquiring an additional 495,380 shares in the last quarter. 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.