Udemy, Inc. (NASDAQ:UDMY - Get Free Report) shares gapped up before the market opened on Friday after Canaccord Genuity Group raised their price target on the stock from $12.00 to $14.00. The stock had previously closed at $7.82, but opened at $8.45. Canaccord Genuity Group currently has a buy rating on the stock. Udemy shares last traded at $10.01, with a volume of 1,537,610 shares.
A number of other brokerages have also issued reports on UDMY. Scotiabank started coverage on shares of Udemy in a report on Thursday, December 5th. They issued a "sector outperform" rating and a $10.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $11.00 price target on shares of Udemy in a research note on Friday. Finally, Cantor Fitzgerald cut their price target on shares of Udemy from $18.00 to $11.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $10.82.
Check Out Our Latest Stock Analysis on UDMY
Insider Buying and Selling
In related news, major shareholder Ltd Naspers sold 3,200,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 13,920,840 shares of the company's stock, valued at approximately $109,139,385.60. This represents a 18.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the firm's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $8.71, for a total value of $87,100.00. Following the transaction, the chief executive officer now owns 1,183,086 shares of the company's stock, valued at $10,304,679.06. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Vega Investment Solutions purchased a new position in Udemy in the 4th quarter valued at approximately $46,000. PharVision Advisers LLC acquired a new stake in shares of Udemy in the fourth quarter valued at $144,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Udemy by 17.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,864 shares of the company's stock valued at $1,497,000 after purchasing an additional 27,673 shares during the period. Voloridge Investment Management LLC grew its stake in Udemy by 11.5% during the 4th quarter. Voloridge Investment Management LLC now owns 254,072 shares of the company's stock worth $2,091,000 after purchasing an additional 26,289 shares in the last quarter. Finally, Wexford Capital LP acquired a new position in Udemy during the 4th quarter worth $99,000. Institutional investors and hedge funds own 79.48% of the company's stock.
Udemy Trading Down 0.6 %
The company has a market cap of $1.45 billion, a PE ratio of -15.79 and a beta of 1.85. The company has a fifty day simple moving average of $8.10 and a two-hundred day simple moving average of $8.00.
Udemy (NASDAQ:UDMY - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.10). Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The firm had revenue of $199.94 million for the quarter, compared to analysts' expectations of $194.70 million. On average, research analysts anticipate that Udemy, Inc. will post -0.47 EPS for the current fiscal year.
About Udemy
(
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.
Recommended Stories
Before you consider Udemy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Udemy wasn't on the list.
While Udemy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
