Udemy Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqGS:UDMY Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
21 May 25	BuyUS$256,719	Hugo Sarrazin	Individual	36,980	US$7.00
19 May 25	BuyUS$50,282	Hugo Sarrazin	Individual	7,200	US$6.99
12 May 25	BuyUS$23,751	Hugo Sarrazin	Individual	3,400	US$6.99
19 Feb 25	SellUS$145,625	Heather Hiles	Individual	14,840	US$9.81
21 Jan 25	SellUS$25,088,000	Naspers Limited	Company	3,200,000	US$7.84

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of UDMY?
Owner Type	Number of Shares	Ownership Percentage
State or Government	40,058	0.0274%
General Public	3,337,481	2.28%
Individual Insiders	4,244,440	2.9%
Public Companies	13,920,840	9.51%
VC/PE Firms	38,032,260	26%
Institutions	86,801,686	59.3%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 83.04% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
26%	Insight Venture Management, LLC	38,032,260	US$193.2m	0%	9.08%
9.54%	Caledonia (Private) Investments Pty Limited	13,958,917	US$70.9m	25.1%	1.13%
9.51%	Naspers Limited	13,920,840	US$70.7m	0%	no data
8.13%	The Vanguard Group, Inc.	11,895,585	US$60.4m	3.81%	no data
5.04%	BlackRock, Inc.	7,375,458	US$37.5m	5.82%	no data
3.06%	Assenagon Asset Management S.A.	4,474,417	US$22.7m	70.8%	0.03%
2.73%	NewView Capital Management, LLC	3,997,791	US$20.3m	0%	22.21%
2.03%	Sea Cliff Partners Management, LP	2,973,718	US$15.1m	-8.65%	6.07%
1.63%	Geode Capital Management, LLC	2,384,127	US$12.1m	3.05%	no data
1.55%	Westerly Capital Management LLC	2,265,000	US$11.5m	0%	3.55%
1.49%	State Street Global Advisors, Inc.	2,177,428	US$11.1m	1.98%	no data
1.35%	Morgan Stanley	1,980,042	US$10.1m	99.5%	no data
1.33%	UBS Asset Management AG	1,950,769	US$9.9m	36%	no data
1.33%	Arrowstreet Capital, Limited Partnership	1,949,206	US$9.9m	-0.72%	0.01%
1.14%	Jacobs Levy Equity Management Inc	1,666,003	US$8.5m	35.6%	0.03%
1.05%	J. Goldman & Co., L.P.	1,541,451	US$7.8m	0%	0.29%
0.99%	Eren Bali	1,453,350	US$7.4m	0%	no data
0.96%	Federated Hermes, Inc.	1,401,925	US$7.1m	1.13%	0.01%
0.71%	D. E. Shaw & Co., L.P.	1,041,363	US$5.3m	1,110%	no data
0.64%	Charles Schwab Investment Management, Inc.	935,379	US$4.8m	12.4%	no data
0.63%	Cresset Asset Management, LLC	926,652	US$4.7m	-15.1%	0.02%
0.58%	Northern Trust Global Investments	848,330	US$4.3m	-1.04%	no data
0.57%	Voloridge Investment Management, LLC	833,776	US$4.2m	27.9%	0.01%
0.54%	AQR Capital Management, LLC	787,612	US$4.0m	34.3%	no data
0.53%	Royce & Associates, LP	779,689	US$4.0m	0%	0.04%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/12/01 14:38
End of Day Share Price	2025/11/28 00:00
Earnings	2025/09/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Udemy, Inc. is covered by 17 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Phillip Leytes	Berenberg
Curtis Nagle	BofA Global Research
Nafeesa Gupta	BofA Global Research