Udemy, Inc. (NASDAQ:UDMY) CEO Acquires $12,340.64 in Stock

Udemy, Inc. (NASDAQ:UDMY) CEO Hugo Sarrazin acquired 1,768 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was acquired at an average price of $6.98 per share, with a total value of $12,340.64. Following the completion of the transaction, the chief executive officer now directly owns 10,600 shares of the company’s stock, valued at $73,988. This trade represents a 20.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

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

• On Thursday, May 15th, Hugo Sarrazin purchased 5,432 shares of Udemy stock. The shares were purchased at an average price of $6.99 per share, for a total transaction of $37,969.68.
• On Monday, May 12th, Hugo Sarrazin purchased 3,400 shares of Udemy stock. The shares were purchased at an average price of $6.99 per share, for a total transaction of $23,766.00.

Udemy Price Performance

Udemy stock opened at $6.98 on Tuesday. Udemy, Inc. has a 1-year low of $5.68 and a 1-year high of $10.61. The stock has a market cap of $1.04 billion, a PE ratio of -12.25 and a beta of 1.82. The stock’s fifty day moving average is $7.08 and its two-hundred day moving average is $7.93.

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

Hedge Funds Weigh In On Udemy

A number of hedge funds and other institutional investors have recently made changes to their positions in UDMY. SBI Securities Co. Ltd. purchased a new stake in Udemy in the 4th quarter valued at approximately $31,000. Quarry LP acquired a new position in shares of Udemy during the 4th quarter worth approximately $34,000. Vega Investment Solutions acquired a new position in shares of Udemy during the 4th quarter worth approximately $46,000. GAMMA Investing LLC raised its position in shares of Udemy by 558.3% during the 1st quarter. GAMMA Investing LLC now owns 6,945 shares of the company’s stock worth $54,000 after purchasing an additional 5,890 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Udemy during the 4th quarter worth approximately $59,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Analyst Ratings Changes

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