Udemy (NASDAQ:UDMY) Rating Lowered to “Market Perform” at William Blair

Udemy (NASDAQ:UDMY) was downgraded by research analysts at William Blair from an “outperform” rating to a “market perform” rating in a report released on Wednesday, Marketbeat reports.

A number of other equities analysts have also recently commented on UDMY. Canaccord Genuity Group lifted their price target on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Scotiabank assumed coverage on shares of Udemy in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target for the company. Morgan Stanley boosted their price objective on shares of Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Udemy in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Udemy presently has an average rating of “Moderate Buy” and an average price target of $10.95.

Udemy Stock Performance

NASDAQ UDMY opened at $7.91 on Wednesday. The company has a market capitalization of $1.17 billion, a P/E ratio of -13.88 and a beta of 1.76. Udemy has a 52-week low of $6.67 and a 52-week high of $11.60. The company has a fifty day moving average of $8.57 and a 200-day moving average of $8.23.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The firm had revenue of $199.94 million for the quarter, compared to analysts’ expectations of $194.70 million. As a group, analysts forecast that Udemy will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $9.43, for a total value of $94,300.00. Following the sale, the chief executive officer now owns 1,141,896 shares of the company’s stock, valued at approximately $10,768,079.28. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Eren Bali sold 69,482 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $9.00, for a total value of $625,338.00. Following the transaction, the chief technology officer now owns 2,156,050 shares of the company’s stock, valued at $19,404,450. This trade represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,294,322 shares of company stock worth $25,953,218. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Udemy

Large investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd purchased a new stake in shares of Udemy in the 3rd quarter worth $30,000. SBI Securities Co. Ltd. bought a new position in shares of Udemy in the 4th quarter worth $31,000. Quarry LP purchased a new stake in shares of Udemy during the 4th quarter worth $34,000. Vega Investment Solutions purchased a new position in Udemy in the fourth quarter valued at about $46,000. Finally, Nisa Investment Advisors LLC raised its holdings in Udemy by 496.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after purchasing an additional 6,010 shares in the last quarter. 79.48% of the stock is 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.