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 Udemy stock in a transaction on 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 sale, the insider now directly owns 13,920,840 shares of the company’s stock, valued at $109,139,385.60. This represents a 18.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Udemy Price Performance

Shares of UDMY traded down $0.38 during midday trading on Wednesday, hitting $7.44. The stock had a trading volume of 1,141,099 shares, compared to its average volume of 684,921. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -11.81 and a beta of 1.87. The company has a 50 day simple moving average of $8.20 and a two-hundred day simple moving average of $8.09. Udemy, Inc. has a twelve month low of $6.67 and a twelve month high of $14.74.

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

Institutional Investors Weigh In On Udemy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sea Cliff Partners Management LP grew its holdings in shares of Udemy by 27.9% in the 2nd quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock valued at $32,154,000 after acquiring an additional 811,702 shares in the last quarter. Summit Trail Advisors LLC grew its stake in Udemy by 939.8% in the third quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company’s stock valued at $2,729,000 after purchasing an additional 331,521 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Udemy during the 3rd quarter worth approximately $1,630,000. Algert Global LLC boosted its holdings in shares of Udemy by 150.8% in the 2nd quarter. Algert Global LLC now owns 238,672 shares of the company’s stock valued at $2,060,000 after buying an additional 143,498 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Udemy by 106.5% during the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock worth $1,806,000 after buying an additional 125,235 shares during the last quarter. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on UDMY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Udemy in a research note on Friday, January 17th. Cantor Fitzgerald lowered their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Scotiabank started coverage on shares of Udemy in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target on the stock. Finally, Morgan Stanley downgraded shares of Udemy from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $10.00 to $7.50 in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.92.

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.