Udemy, Inc. (NASDAQ:UDMY – Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday after Cantor Fitzgerald lowered their price target on the stock from $20.00 to $18.00. Cantor Fitzgerald currently has an overweight rating on the stock. Udemy traded as low as $6.92 and last traded at $7.74, with a volume of 542067 shares traded. The stock had previously closed at $9.24.
Several other equities analysts have also commented on UDMY. Morgan Stanley dropped their price objective on shares of Udemy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. KeyCorp reduced their price objective on Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Robert W. Baird cut their target price on Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of Udemy in a research note on Friday, May 3rd. Finally, Jefferies Financial Group decreased their target price on shares of Udemy from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.95.
Insiders Place Their Bets
In other news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $9.10, for a total transaction of $136,500.00. Following the completion of the sale, the director now directly owns 1,639,477 shares of the company’s stock, valued at approximately $14,919,240.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $9.10, for a total value of $136,500.00. Following the completion of the transaction, the director now owns 1,639,477 shares of the company’s stock, valued at approximately $14,919,240.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Venu Venugopal sold 7,086 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $9.89, for a total value of $70,080.54. Following the completion of the sale, the chief technology officer now owns 429,927 shares of the company’s stock, valued at approximately $4,251,978.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,486 shares of company stock worth $740,941. 3.20% of the stock is owned by insiders.
Institutional Investors Weigh In On Udemy
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pathway Capital Management LP acquired a new stake in Udemy in the fourth quarter valued at approximately $3,983,000. Vanguard Group Inc. grew its stake in shares of Udemy by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 9,355,870 shares of the company’s stock worth $137,812,000 after acquiring an additional 495,380 shares during the last quarter. Partners Group Holding AG acquired a new position in Udemy during the 4th quarter valued at $1,928,000. Invenomic Capital Management LP grew its position in Udemy by 5.5% in the 4th quarter. Invenomic Capital Management LP now owns 2,234,835 shares of the company’s stock worth $32,919,000 after purchasing an additional 116,432 shares during the last quarter. Finally, Greenvale Capital LLP increased its holdings in shares of Udemy by 2.3% during the 4th quarter. Greenvale Capital LLP now owns 6,600,000 shares of the company’s stock worth $97,218,000 after purchasing an additional 150,000 shares during the period. 79.48% of the stock is owned by hedge funds and other institutional investors.
Udemy Stock Down 18.8 %
The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -14.15 and a beta of 2.00. The stock’s 50-day moving average price is $8.57 and its 200 day moving average price is $10.39.
Udemy (NASDAQ:UDMY – Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $196.85 million for the quarter, compared to analysts’ expectations of $194.83 million. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. On average, research analysts predict that Udemy, Inc. will post -0.45 EPS for the current year.
Udemy Company Profile
Udemy, Inc, a learning company, that operates a marketplace platform for learning skills in the United States and internationally. The company offers skill acquisition, development, and validation courses for organizations and individuals, through direct-to-consumer or Udemy Business offerings in various languages.