Udemy (NASDAQ:UDMY) Sets New 12-Month Low – Here’s What Happened

by · The Cerbat Gem

Udemy, Inc. (NASDAQ:UDMYGet Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $4.83 and last traded at $4.9250, with a volume of 128007 shares trading hands. The stock had previously closed at $4.99.

Analysts Set New Price Targets

UDMY has been the subject of a number of recent research reports. Zacks Research cut shares of Udemy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. KeyCorp cut Udemy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, January 13th. Wall Street Zen raised Udemy from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 7th. Canaccord Genuity Group cut Udemy from a “buy” rating to a “hold” rating and cut their price target for the stock from $12.00 to $7.00 in a report on Wednesday, December 17th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Udemy in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.00.

Get Our Latest Analysis on UDMY

Udemy Stock Performance

The company’s fifty day moving average price is $5.40 and its two-hundred day moving average price is $6.25. The firm has a market capitalization of $713.60 million, a PE ratio of -162.45 and a beta of 1.73.

Udemy (NASDAQ:UDMYGet Free Report) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $195.68 million for the quarter, compared to analyst estimates of $193.09 million. Udemy had a negative net margin of 0.47% and a positive return on equity of 2.11%. Udemy’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the business earned $0.07 EPS. On average, equities analysts expect that Udemy, Inc. will post -0.09 earnings per share for the current year.

Insider Activity

In related news, CFO Sarah Blanchard sold 25,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $5.25, for a total transaction of $131,250.00. Following the completion of the sale, the chief financial officer owned 1,208,046 shares of the company’s stock, valued at approximately $6,342,241.50. This represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Udemy

Several institutional investors have recently bought and sold shares of UDMY. Janney Montgomery Scott LLC bought a new stake in Udemy in the second quarter valued at about $340,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Udemy by 109.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 504,823 shares of the company’s stock worth $3,549,000 after buying an additional 263,358 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Udemy in the 2nd quarter worth approximately $668,000. Y Intercept Hong Kong Ltd grew its position in shares of Udemy by 203.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 344,388 shares of the company’s stock worth $2,421,000 after acquiring an additional 230,994 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Udemy by 70.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,474,417 shares of the company’s stock valued at $31,366,000 after acquiring an additional 1,854,550 shares during the last quarter. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

About Udemy

(Get Free Report)

Udemy, Inc (NASDAQ: UDMY) operates a leading online learning marketplace that connects learners and instructors across a wide range of subject areas. The company’s platform hosts thousands of self-paced video courses covering technology, business, personal development, creative arts and more. Individual learners can purchase courses on demand, while instructors receive revenue share for teaching content to a global audience.

In addition to its consumer-facing marketplace, Udemy provides enterprise learning solutions under the Udemy for Business brand.

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