Udemy (NASDAQ:UDMY) CFO Sells $131,250.00 in Stock

Udemy, Inc. (NASDAQ:UDMY) CFO Sarah Blanchard sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $5.25, for a total value of $131,250.00. Following the sale, the chief financial officer directly owned 1,208,046 shares of the company’s stock, valued at $6,342,241.50. This represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Udemy Stock Performance

Shares of UDMY opened at $5.22 on Tuesday. The firm has a market cap of $763.37 million, a PE ratio of -173.78 and a beta of 1.75. Udemy, Inc. has a 52-week low of $4.86 and a 52-week high of $10.61. The business’s 50 day moving average price is $5.72 and its two-hundred day moving average price is $6.58.

Udemy (NASDAQ:UDMY) last issued its earnings results on Wednesday, October 29th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $195.68 million for the quarter, compared to analyst estimates of $193.09 million. Udemy had a negative net margin of 0.47% and a positive return on equity of 2.11%. Udemy’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. Research analysts predict that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Udemy declared that its board has initiated a share buyback program on Wednesday, September 10th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

UDMY has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of Udemy in a research note on Thursday, October 30th. Zacks Research lowered Udemy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 28th. KeyCorp reissued an “overweight” rating on shares of Udemy in a research report on Thursday. Wall Street Zen upgraded shares of Udemy from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Udemy in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Udemy presently has an average rating of “Hold” and a consensus target price of $9.63.

Hedge Funds Weigh In On Udemy

Several hedge funds have recently modified their holdings of the company. Westerly Capital Management LLC purchased a new position in shares of Udemy in the 3rd quarter worth approximately $15,878,000. Assenagon Asset Management S.A. boosted its position in Udemy by 70.8% in the third quarter. Assenagon Asset Management S.A. now owns 4,474,417 shares of the company’s stock worth $31,366,000 after purchasing an additional 1,854,550 shares during the last quarter. Vanguard Group Inc. grew its stake in Udemy by 12.2% in the 1st quarter. Vanguard Group Inc. now owns 10,663,298 shares of the company’s stock valued at $82,747,000 after purchasing an additional 1,156,006 shares during the period. UBS Group AG grew its stake in Udemy by 56.8% in the 3rd quarter. UBS Group AG now owns 1,786,371 shares of the company’s stock valued at $12,522,000 after purchasing an additional 646,755 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Udemy by 455.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 703,957 shares of the company’s stock valued at $4,949,000 after purchasing an additional 577,155 shares during the last quarter. Institutional investors own 79.48% of the company’s stock.

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.