Udemy, Inc. (NASDAQ:UDMY) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Udemy, Inc. (NASDAQ:UDMY) have been assigned an average rating of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $10.95.

UDMY has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Udemy in a research report on Wednesday, March 12th. William Blair lowered Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. Scotiabank began coverage on Udemy in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price objective for the company. Morgan Stanley lifted their price objective on Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group upped their target price on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 14th.

Insider Transactions at Udemy

In other Udemy news, Director Heather Hiles sold 14,840 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total transaction of $145,580.40. Following the completion of the sale, the director now directly owns 42,667 shares of the company’s stock, valued at approximately $418,563.27. The trade was a 25.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the sale, the insider now directly owns 13,920,840 shares of the company’s stock, valued at $109,139,385.60. This represents a 18.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,304,322 shares of company stock worth $26,033,418. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UDMY. Barclays PLC grew its position in shares of Udemy by 360.6% during the 3rd quarter. Barclays PLC now owns 155,719 shares of the company’s stock worth $1,158,000 after buying an additional 121,911 shares during the period. Verition Fund Management LLC acquired a new stake in Udemy in the third quarter worth $1,630,000. SBI Securities Co. Ltd. acquired a new stake in Udemy in the fourth quarter worth $31,000. JPMorgan Chase & Co. boosted its position in shares of Udemy by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock worth $1,476,000 after purchasing an additional 41,145 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Udemy by 0.8% during the third quarter. State Street Corp now owns 1,934,473 shares of the company’s stock worth $14,392,000 after purchasing an additional 15,339 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors.

Udemy Stock Down 3.2 %

Shares of Udemy stock opened at $7.76 on Tuesday. Udemy has a 12-month low of $6.67 and a 12-month high of $11.60. The stock has a market capitalization of $1.15 billion, a P/E ratio of -13.61 and a beta of 1.76. The stock has a 50 day moving average price of $8.55 and a two-hundred day moving average price of $8.26.

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

About Udemy

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.