Hugo Sarrazin Buys 14,285 Shares of Udemy, Inc. (NASDAQ:UDMY) Stock

Udemy, Inc. (NASDAQ:UDMY) CEO Hugo Sarrazin acquired 14,285 shares of the stock in a transaction dated Tuesday, May 20th. The stock was acquired at an average cost of $7.00 per share, for a total transaction of $99,995.00. Following the purchase, the chief executive officer now directly owns 24,885 shares in the company, valued at approximately $174,195. The trade was a 134.76% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, May 21st, Hugo Sarrazin acquired 22,695 shares of Udemy stock. The stock was acquired at an average cost of $6.91 per share, for a total transaction of $156,822.45.
• 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, with a total value of $12,340.64.
• On Thursday, May 15th, Hugo Sarrazin bought 5,432 shares of Udemy stock. The stock was purchased at an average price of $6.99 per share, with a total value of $37,969.68.
• On Monday, May 12th, Hugo Sarrazin bought 3,400 shares of Udemy stock. The stock was purchased at an average price of $6.99 per share, with a total value of $23,766.00.

Udemy Stock Performance

UDMY stock opened at $6.87 on Friday. The stock has a market cap of $1.02 billion, a P/E ratio of -12.05 and a beta of 1.82. The firm has a 50 day simple moving average of $6.97 and a 200 day simple moving average of $7.90. Udemy, Inc. has a 52 week low of $5.68 and a 52 week high of $10.61.

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

Hedge Funds Weigh In On Udemy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UDMY. Assenagon Asset Management S.A. raised its position in Udemy by 1,814.5% during 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 acquiring an additional 2,538,728 shares in the last quarter. Federated Hermes Inc. raised 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 purchasing an additional 1,306,778 shares during the period. Vanguard Group Inc. raised its position in shares of Udemy by 12.2% in the first quarter. Vanguard Group Inc. now owns 10,663,298 shares of the company’s stock valued at $82,747,000 after purchasing an additional 1,156,006 shares during the period. Millennium Management LLC bought a new position in shares of Udemy in the fourth quarter valued at approximately $5,911,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Udemy in the fourth quarter valued at approximately $4,119,000. Institutional investors own 79.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Canaccord Genuity Group decreased their target price 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. William Blair cut shares of Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. Truist Financial reiterated a “hold” rating and issued a $7.00 target price (down from $10.00) on shares of Udemy in a report on Monday, April 7th. Morgan Stanley decreased their target price on shares of Udemy from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Finally, Robert W. Baird decreased their target price on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.