Udemy (NASDAQ:UDMY) Stock Price Up 5.6% – Here’s What Happened

by · The Markets Daily

Udemy, Inc. (NASDAQ:UDMYGet Free Report)’s stock price shot up 5.6% on Monday . The stock traded as high as $4.63 and last traded at $4.6050. 651,851 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 1,993,126 shares. The stock had previously closed at $4.36.

Analyst Upgrades and Downgrades

UDMY has been the topic of a number of research analyst reports. KeyCorp downgraded shares of Udemy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Udemy in a research note on Wednesday, January 21st. Canaccord Genuity Group set a $5.00 price target on shares of Udemy in a research report on Monday, February 9th. Finally, Wall Street Zen raised shares of Udemy from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 7th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.75.

View Our Latest Stock Analysis on UDMY

Udemy Stock Up 0.2%

The company has a market capitalization of $675.15 million, a P/E ratio of 231.62 and a beta of 1.70. The company has a 50-day moving average of $4.80 and a two-hundred day moving average of $5.53.

Udemy (NASDAQ:UDMYGet Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $193.99 million during the quarter, compared to analyst estimates of $193.40 million. Udemy had a return on equity of 4.84% and a net margin of 0.48%.The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. As a group, equities analysts expect that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Udemy news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $4.78, for a total value of $119,500.00. Following the sale, the chief financial officer owned 1,455,763 shares in the company, valued at approximately $6,958,547.14. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. purchased a new position in Udemy during the second quarter valued at $56,000. State of Alaska Department of Revenue purchased a new stake in shares of Udemy in the third quarter worth $56,000. CIBC Bancorp USA Inc. bought a new position in shares of Udemy during the third quarter valued at $73,000. Prelude Capital Management LLC purchased a new position in shares of Udemy in the 3rd quarter worth about $79,000. Finally, Prudential Financial Inc. purchased a new position in shares of Udemy in the 2nd quarter worth about $79,000. Institutional investors own 79.48% of the company’s stock.

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.

See Also