👀 Ones to watch: The MOST undervalued shares to buy right nowSee Undervalued Shares

Udemy CTO Bali Eren sells $319,665 in company stock

Published 07/11/2024, 23:16
UDMY
-

SAN FRANCISCO—Bali Eren, the Chief Technology Officer of Udemy, Inc. (NASDAQ:UDMY), has recently sold 35,518 shares of the company's common stock. The transaction, which took place on November 6, 2024, was conducted under a pre-established Rule 10b5-1 trading plan. The shares were sold at a weighted average price of $9.0001, totaling approximately $319,665.

Following this transaction, Eren retains ownership of 2,225,532 shares in Udemy. The sale was executed in multiple trades, with prices ranging between $9.00 and $9.03 per share. This move is part of Eren's ongoing financial strategy within the company.

In other recent news, Udemy, Inc. reported a year-over-year revenue increase of 6% to $195 million in the third quarter of 2024, surpassing its own financial expectations. The company's strategic focus on targeting large enterprise customers has contributed to a 14% growth in annual recurring revenue (ARR), exceeding $500 million. Udemy also highlighted its operational efficiency and AI-driven product enhancements leading to significant profitability improvements.

The company's adjusted EBITDA margins reached record highs, with the Udemy Business segment adding over 250 new customers and improving gross margins to 74%. Despite a decline in consumer revenue, Udemy raised its full-year 2024 revenue outlook to $780-$783 million, with a long-term goal of $130-$150 million in adjusted EBITDA by 2026.

Udemy's founder, Eren Bali, has rejoined the team as CTO, focusing on product strategy and operational efficiency. The company's partnership with Workday (NASDAQ:WDAY), integrating Udemy's content with Workday's skills cloud, is expected to promote internal mobility and customer engagement. These are some of the recent developments that reflect Udemy's strategic focus on large enterprises and operational efficiency.

InvestingPro Insights

While Udemy's CTO Bali Eren has recently sold a portion of his shares, it's important to consider the broader financial picture of the company. According to InvestingPro data, Udemy's market capitalization stands at $1.27 billion, reflecting its position in the online education sector.

InvestingPro Tips highlight that Udemy holds more cash than debt on its balance sheet, which could be seen as a positive sign of financial stability. This strong cash position may provide the company with flexibility for future investments or to weather potential market uncertainties.

Additionally, Udemy has shown impressive gross profit margins, with the latest data indicating a gross profit margin of 61.14% for the last twelve months as of Q3 2024. This robust margin suggests that the company has been effective in managing its direct costs relative to revenue.

It's worth noting that Udemy has experienced significant returns over various time frames. The company's stock has shown a strong return of 21.61% over the last month and 26.28% over the last three months. These positive trends could indicate growing investor confidence in Udemy's business model and future prospects.

For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Udemy, providing a deeper understanding of the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.