Key Points
- CFO Sarah Blanchard sold 25,000 shares on Dec. 15 at an average price of $5.25 for $131,250, trimming her stake by 2.03% to 1,208,046 shares ( ~$6.34M value).
- Board authorized a $50 million repurchase program (up to ~5% of shares); institutional investors own 79.48% of Udemy, and analysts' consensus is a "Hold" with an average price target of $9.63.
- Udemy recently beat quarterly estimates with EPS of $0.13 (vs. $0.10 expected) and revenue of $195.68M, though the company still shows a slightly negative net margin and analysts expect -$0.09 EPS for the fiscal year.
Udemy, Inc. (NASDAQ:UDMY - Get Free Report) CFO Sarah Blanchard sold 25,000 shares of the firm's stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Udemy Price Performance
Shares of NASDAQ UDMY opened at $5.37 on Wednesday. The stock has a market capitalization of $786.06 million, a PE ratio of -178.94 and a beta of 1.74. Udemy, Inc. has a one year low of $4.86 and a one year high of $10.61. The business's fifty day moving average price is $5.70 and its 200-day moving average price is $6.57.
Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.03. The business had revenue of $195.68 million for the quarter, compared to analysts' expectations of $193.09 million. Udemy had a positive return on equity of 2.11% and a negative net margin of 0.47%.The firm's quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 EPS. As a group, equities analysts expect that Udemy, Inc. will post -0.09 EPS for the current fiscal year.
Udemy declared that its board has authorized a stock repurchase program on Wednesday, September 10th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.
Institutional Investors Weigh In On Udemy
Large investors have recently added to or reduced their stakes in the business. Westerly Capital Management LLC bought a new position in shares of Udemy in the third quarter worth approximately $15,878,000. Assenagon Asset Management S.A. grew its stake in Udemy by 70.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,474,417 shares of the company's stock worth $31,366,000 after buying an additional 1,854,550 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Udemy by 12.2% in the 1st quarter. Vanguard Group Inc. now owns 10,663,298 shares of the company's stock worth $82,747,000 after buying an additional 1,156,006 shares during the last quarter. UBS Group AG increased its holdings in shares of Udemy by 56.8% in the 3rd quarter. UBS Group AG now owns 1,786,371 shares of the company's stock worth $12,522,000 after buying an additional 646,755 shares during the last quarter. Finally, JPMorgan Chase & Co. raised 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 buying an additional 577,155 shares in the last quarter. Institutional investors own 79.48% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently commented on the stock. Canaccord Genuity Group restated a "buy" rating and set a $12.00 price target on shares of Udemy in a research note on Thursday, October 30th. Needham & Company LLC restated a "buy" rating and set a $11.00 target price on shares of Udemy in a research report on Thursday, October 30th. KeyCorp reaffirmed an "overweight" rating on shares of Udemy in a report on Thursday, December 11th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Udemy in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Udemy from a "buy" rating to a "strong-buy" rating in a report on Sunday, December 7th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $9.63.
View Our Latest Report on UDMY
Udemy Company Profile
(
Get Free Report)
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.
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