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Insider Selling: Venugopal Venu, Udemy Inc [UDMY] Chief Technology Officer divested 1,000 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Udemy Inc shares valued at $8,600 were sold by Venugopal Venu on Jul 01 ’24. At $8.60 per share, Venugopal Venu sold 1,000 shares. The insider’s holdings dropped to 421,269 shares worth approximately $3.64 million following the completion of this transaction.

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Also, Brown Gregory Scott sold 10,000 shares, netting a total of over 85,000 in proceeds. Following the sale of shares at $8.50 each, the insider now holds 1,273,406 shares.

Before that, Venugopal Venu had sold 1,000 shares from its account. In a trade valued at $8,310, the Chief Technology Officer traded Udemy Inc shares for $8.31 each. Upon closing the transaction, the insider’s holdings decreased to 1,000 shares, worth approximately $3.65 million.

Analysts at Piper Sandler downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid July. As of March 30, 2022, Cantor Fitzgerald has initiated its “an Overweight” rating for UDMY. Earlier on March 17, 2022, Berenberg initiated its rating. Their recommendation was “a Buy” for UDMY stock.

Analyzing UDMY Stock Performance

During the last five days, there has been a surge of approximately 6.53%. Over the course of the year, Udemy Inc shares have dropped approximately -41.28%. Shares of the company reached a 52-week high of $14.74 on 02/12/24 and a 52-week low of $7.91 on 06/21/24. A 50-day SMA is recorded $9.17, while a 200-day SMA reached $11.29. Nevertheless, trading volume fell to 0.43 million shares from 0.76 million shares the previous day.

Support And Resistance Levels for Udemy Inc (UDMY)

According to the 24-hour chart, there is a support level at 8.50, which, if violated, would cause prices to drop to 8.35. In the upper region, resistance lies at 8.76. The next price resistance is at 8.88. RSI (Relative Strength Index) is 50.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.26, which suggests the price will decrease in the coming days. Percent R is at 27.14%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.

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