Insider Buying: Udemy, Inc. (NASDAQ:UDMY) CEO Acquires 5,432 Shares of Stock

Udemy, Inc. (NASDAQ:UDMY) CEO Hugo Sarrazin acquired 5,432 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average cost of $6.99 per share, for a total transaction of $37,969.68. Following the completion of the purchase, the chief executive officer now owns 8,832 shares of the company’s stock, valued at $61,735.68. This trade represents a 159.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hugo Sarrazin also recently made the following trade(s):

• On Monday, May 19th, Hugo Sarrazin bought 1,768 shares of Udemy stock. The stock was purchased at an average price of $6.98 per share, for a total transaction of $12,340.64.
• On Monday, May 12th, Hugo Sarrazin purchased 3,400 shares of Udemy stock. The shares were acquired at an average price of $6.99 per share, with a total value of $23,766.00.

Udemy Trading Down 1.3%

NASDAQ UDMY traded down $0.09 during trading hours on Monday, hitting $6.98. The company’s stock had a trading volume of 657,094 shares, compared to its average volume of 980,944. The company has a market capitalization of $1.04 billion, a PE ratio of -12.25 and a beta of 1.82. Udemy, Inc. has a 52 week low of $5.68 and a 52 week high of $10.61. The company’s 50-day simple moving average is $7.10 and its two-hundred day simple moving average is $7.94.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The business had revenue of $200.30 million during the quarter, compared to the consensus estimate of $197.19 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. Udemy’s revenue was up 1.8% compared to the same quarter last year. Research analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of UDMY. Assenagon Asset Management S.A. grew its position in shares of Udemy by 1,814.5% in the first quarter. Assenagon Asset Management S.A. now owns 2,678,641 shares of the company’s stock valued at $20,786,000 after purchasing an additional 2,538,728 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Udemy by 1,985.5% in the fourth quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company’s stock valued at $11,296,000 after acquiring an additional 1,306,778 shares during the period. Vanguard Group Inc. grew its stake in Udemy by 12.2% during the first quarter. Vanguard Group Inc. now owns 10,663,298 shares of the company’s stock valued at $82,747,000 after acquiring an additional 1,156,006 shares in the last quarter. Millennium Management LLC bought a new stake in Udemy during the 4th quarter worth approximately $5,911,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Udemy in the fourth quarter worth approximately $4,119,000. 79.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

UDMY has been the topic of a number of recent analyst reports. William Blair downgraded Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. JPMorgan Chase & Co. cut their price target on Udemy from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Cantor Fitzgerald reduced their price objective on shares of Udemy from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Udemy in a research report on Thursday, May 1st. Finally, Canaccord Genuity Group reduced their price target on shares of Udemy from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.86.

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.