Udemy (NASDAQ:UDMY) Shares Gap Down – Should You Sell?

Udemy, Inc. (NASDAQ:UDMY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $8.18, but opened at $8.00. Udemy shares last traded at $7.99, with a volume of 107,484 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on UDMY shares. Truist Financial decreased their target price on Udemy from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Canaccord Genuity Group assumed coverage on Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 target price for the company. Bank of America cut shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price target on the stock. in a research report on Thursday, August 1st. KeyCorp lowered their price objective on shares of Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Robert W. Baird reduced their target price on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Udemy presently has a consensus rating of “Moderate Buy” and an average price target of $11.92.

Udemy Stock Down 2.3 %

The company’s 50 day simple moving average is $7.94 and its 200-day simple moving average is $8.55. The firm has a market cap of $1.20 billion, a P/E ratio of -14.02 and a beta of 1.97.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). Udemy had a negative net margin of 11.39% and a negative return on equity of 26.62%. The business had revenue of $194.36 million for the quarter, compared to analysts’ expectations of $194.17 million. Equities research analysts predict that Udemy, Inc. will post -0.52 EPS for the current year.

Insider Buying and Selling

In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total value of $362,250.00. Following the completion of the sale, the chief financial officer now directly owns 1,001,761 shares of the company’s stock, valued at $8,064,176.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Udemy by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 9,355,870 shares of the company’s stock worth $137,812,000 after buying an additional 495,380 shares during the period. Principal Financial Group Inc. grew its holdings in Udemy by 18.8% during the 1st quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after acquiring an additional 1,904 shares in the last quarter. SpiderRock Advisors LLC purchased a new position in Udemy during the 1st quarter valued at about $750,000. Swiss National Bank raised its holdings in shares of Udemy by 2.2% in the 1st quarter. Swiss National Bank now owns 136,200 shares of the company’s stock valued at $1,495,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Udemy in the 1st quarter worth approximately $350,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

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.