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

by · The Cerbat Gem

Udemy, Inc. (NASDAQ:UDMY – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $10.92.

UDMY has been the subject of several analyst reports. Cantor Fitzgerald reduced their price objective on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC lowered their price target on Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Udemy in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price objective on the stock. Finally, Morgan Stanley downgraded shares of Udemy from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $10.00 to $7.50 in a research note on Friday, September 27th.

Read Our Latest Report on UDMY

Insider Buying and Selling

In related news, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $8.71, for a total transaction of $87,100.00. Following the sale, the chief executive officer now owns 1,183,086 shares of the company’s stock, valued at $10,304,679.06. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Eren Bali sold 35,518 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total transaction of $319,662.00. Following the completion of the sale, the chief technology officer now owns 2,225,532 shares in the company, valued at approximately $20,029,788. This trade represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,518 shares of company stock valued at $491,762. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UDMY. Sea Cliff Partners Management LP increased its position in shares of Udemy by 27.9% in the second quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after acquiring an additional 811,702 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in Udemy by 939.8% in the third quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company’s stock worth $2,729,000 after buying an additional 331,521 shares during the last quarter. Verition Fund Management LLC bought a new stake in Udemy in the third quarter worth $1,630,000. Algert Global LLC boosted its position in Udemy by 150.8% during the second quarter. Algert Global LLC now owns 238,672 shares of the company’s stock worth $2,060,000 after purchasing an additional 143,498 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Udemy by 106.5% during the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock valued at $1,806,000 after acquiring an additional 125,235 shares during the period. Institutional investors and hedge funds own 79.48% of the company’s stock.

Udemy Stock Up 1.9 %

NASDAQ UDMY opened at $8.13 on Friday. The stock has a market capitalization of $1.19 billion, a PE ratio of -12.90 and a beta of 1.91. The firm has a 50 day moving average of $8.17 and a two-hundred day moving average of $8.10. Udemy has a 52 week low of $6.67 and a 52 week high of $15.34.

Udemy (NASDAQ:UDMY – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $195.42 million during the quarter, compared to analysts’ expectations of $192.69 million. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. Udemy’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.10) earnings per share. On average, equities research analysts expect that Udemy will post -0.47 earnings per share for the current fiscal year.

Udemy Company Profile

(Get Free Report

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.

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