Udemy (NASDAQ:UDMY) Hits New 52-Week Low - Here's What Happened

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) shares hit a new 52-week low during trading on Friday . The company traded as low as $6.67 and last traded at $6.65, with a volume of 150614 shares. The stock had previously closed at $7.20.

Analyst Ratings Changes

UDMY has been the subject of several analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $11.00 price objective on shares of Udemy in a research note on Wednesday, March 12th. William Blair cut Udemy from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 12th. Truist Financial reaffirmed a "hold" rating and set a $7.00 price objective (down from $10.00) on shares of Udemy in a report on Monday. Canaccord Genuity Group increased their target price on shares of Udemy from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, Morgan Stanley boosted their price target on shares of Udemy from $7.50 to $9.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $10.68.

Udemy Trading Up 17.6 %

The stock's 50-day moving average price is $8.43 and its two-hundred day moving average price is $8.20. The stock has a market capitalization of $1.00 billion, a P/E ratio of -11.93 and a beta of 1.81.

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Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). The firm had revenue of $199.94 million for the quarter, compared to the consensus estimate of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. On average, equities research analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $9.43, for a total value of $94,300.00. Following the completion of the transaction, the chief executive officer now owns 1,141,896 shares in the company, valued at $10,768,079.28. This trade represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $625,338.00. Following the completion of the sale, the chief technology officer now directly owns 2,156,050 shares in the company, valued at approximately $19,404,450. This trade represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,305,168 shares of company stock valued at $26,040,186. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Udemy

A number of large investors have recently made changes to their positions in UDMY. Federated Hermes Inc. lifted its holdings in Udemy by 1,985.5% during the 4th quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company's stock worth $11,296,000 after purchasing an additional 1,306,778 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Udemy during the fourth quarter valued at about $5,911,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Udemy in the fourth quarter worth about $4,119,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Udemy by 97.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 628,510 shares of the company's stock valued at $5,173,000 after acquiring an additional 310,003 shares during the period. Finally, Quantinno Capital Management LP purchased a new position in Udemy during the fourth quarter valued at approximately $2,350,000. 79.48% of the stock is owned by 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.