Udemy, Inc. (NASDAQ:UDMY) CEO Purchases $23,766.00 in Stock

Udemy, Inc. (NASDAQ:UDMY) CEO Hugo Sarrazin purchased 3,400 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $6.99 per share, for a total transaction of $23,766.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,400 shares of the company’s stock, valued at $23,766. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Udemy Stock Up 1.1%

UDMY opened at $7.12 on Friday. The firm has a 50-day moving average price of $7.15 and a 200-day moving average price of $7.95. Udemy, Inc. has a twelve month low of $5.68 and a twelve month high of $10.61. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -12.49 and a beta of 1.82.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The company had revenue of $200.30 million during the quarter, compared to the consensus estimate of $197.19 million. During the same period last year, the firm earned $0.03 EPS. Udemy’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, sell-side analysts expect that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Udemy

Large investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Udemy during the 4th quarter valued at $31,000. Quarry LP bought a new position in Udemy in the 4th quarter worth about $34,000. Vega Investment Solutions purchased a new position in Udemy during the 4th quarter valued at about $46,000. GAMMA Investing LLC increased its position in shares of Udemy by 558.3% during the first quarter. GAMMA Investing LLC now owns 6,945 shares of the company’s stock valued at $54,000 after buying an additional 5,890 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Udemy by 496.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after buying an additional 6,010 shares in the last quarter. 79.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on UDMY shares. William Blair lowered Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. Robert W. Baird reduced their price target on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Udemy in a report on Thursday, May 1st. Morgan Stanley lowered their price objective on shares of Udemy from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Cantor Fitzgerald dropped their target price on shares of Udemy from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.86.

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.