Naspers Ltd (JO:NPNJn) (JSE:NPN), through its subsidiary MIH Edtech Investments B.V., has sold 3.2 million shares of Udemy Inc (NASDAQ:UDMY) common stock, according to a recent SEC filing. The online education platform, which InvestingPro data shows has experienced a challenging -43.5% return over the past year, currently maintains a market capitalization of $1.1 billion. The shares were sold at a price of $7.84 each, totaling approximately $25.09 million. Following this transaction, Naspers' indirect ownership in Udemy now stands at 13,920,840 shares. The sale reflects Naspers' continued management of its investment portfolio, with the transaction executed on January 21, 2025. According to InvestingPro analysis, Udemy appears undervalued at current levels, with nine analysts recently revising earnings estimates upward for the upcoming period. The company maintains impressive gross profit margins of 61% and holds more cash than debt on its balance sheet. Discover more insights about Udemy and 1,400+ other stocks with InvestingPro's comprehensive research reports.
In other recent news, Udemy, a prominent online learning platform, reported substantial growth in its third quarter of 2024. The company's revenue increased by 6% year-over-year to $195 million, primarily due to its strategic focus on large enterprise customers, which now account for approximately 75% of revenue. Furthermore, Udemy's annual recurring revenue (ARR) experienced a 14% growth, exceeding $500 million.
In terms of company developments, Udemy recently welcomed new members to its board, including Marylou Maco, Avaya's Chief Revenue and Customer Experience Officer, and Debra Chrapaty, Chief Technology Officer at Toast (NYSE:TOST). These strategic appointments come at a time when Udemy is expanding its market presence and leveraging emerging technologies such as generative AI.
On the analyst front, Canaccord Genuity maintained a Buy rating on Udemy, highlighting the impact of Generation Artificial Intelligence (GenAI) on skills-based learning. The firm also noted Udemy's robust forecast for EBITDA growth over the next three years and the company's strong financial position, holding more cash than debt on its balance sheet. In line with these developments, Udemy has raised its full-year 2024 revenue outlook to $780-$783 million.
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