Udemy CFO Blanchard Continues Heavy Insider Selling Amid Declining Stock and Potential Coursera Merger Flurry

Insider Selling Continues in a Volatile Market

The most recent filing shows Chief Financial Officer Sarah Blanchard selling 10,747 shares of Udemy common stock at $5.19 each on January 15, 2026. The sale, while modest compared to her 2025‑year‑long activity, underscores a persistent pattern of off‑loading shares that has been unfolding for months. Blanchard has sold roughly 70,000 shares in 2025 alone, a move that coincides with Udemy’s steep quarterly decline (–13.32 % week‑to‑week) and a sharp year‑to‑date drop of 35.93 %. Investors should note that these transactions are tax‑related vesting releases rather than discretionary sales, yet the sheer volume may still signal insider confidence that the stock has reached a “price ceiling” or that the CFO is rebalancing her portfolio ahead of a potential merger with Coursera.

What It Means for Investors

For shareholders, the CFO’s consistent selling suggests that insiders view the current valuation as an attractive exit point, especially given Udemy’s negative price‑earnings ratio of –182.4 and a 52‑week low of $4.86. The company’s market cap of $749 M is shrinking as it faces competitive pressure from other e‑learning platforms and the uncertainty around its pending merger. If the merger proceeds, insiders may see a premium on the shares, justifying the current off‑loading pace. Conversely, if the deal stalls, the stock could remain under pressure, making the CFO’s sales a warning sign of potential liquidity needs or a lack of confidence in the company’s trajectory.

Blanchard Sarah: A Profile of Prudence and Timing

Blanchard’s transaction history reveals a disciplined approach to insider selling. Her first sale of 25,000 shares in mid‑December 2025 was followed by a series of smaller sales—ranging from 9,300 to 25,000 shares—throughout the year. These trades were typically executed at prices slightly above the closing price, indicating that she is likely timing her sales around short‑term price upticks. Historically, she has sold when the stock was trading near or above its 52‑week high, suggesting a strategy to capture upside while mitigating downside risk. Her pattern of selling after periods of market volatility (e.g., after the 2025‑quarter earnings release) hints at a conservative stance, favoring liquidity over long‑term equity exposure.

Looking Ahead

With Udemy poised to release its 2025 full‑year results and a merger on the horizon, the CFO’s continued selling may reflect both a tactical portfolio adjustment and a signal of cautious optimism. For investors, the key will be monitoring the merger’s progress and Udemy’s ability to rebound from a steep valuation decline. The CFO’s historical sales pattern indicates that insider confidence is conditional; should Udemy’s fundamentals improve, insiders may pause or reverse the selling trend, potentially providing a catalyst for the stock.