Shares of Udemy, Inc. (NASDAQ:UDMY - Get Free Report) dropped 5.4% during mid-day trading on Friday . The company traded as low as $7.84 and last traded at $7.84. Approximately 234,303 shares traded hands during trading, a decline of 73% from the average daily volume of 881,662 shares. The stock had previously closed at $8.29.
Analyst Ratings Changes
UDMY has been the subject of a number of recent research reports. Scotiabank initiated coverage on Udemy in a report on Thursday, December 5th. They issued a "sector outperform" rating and a $10.00 target price for the company. Morgan Stanley downgraded shares of Udemy from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $10.00 to $7.50 in a research note on Friday, September 27th. Needham & Company LLC lowered their price objective on shares of Udemy from $15.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald dropped their price target on Udemy from $18.00 to $11.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Udemy currently has an average rating of "Moderate Buy" and an average target price of $10.92.
View Our Latest Report on UDMY
Udemy Trading Down 4.2 %
The stock has a fifty day moving average of $8.12 and a 200 day moving average of $8.13.
Udemy (NASDAQ:UDMY - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.06. The firm had revenue of $195.42 million for the quarter, compared to analyst estimates of $192.69 million. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Analysts expect that Udemy, Inc. will post -0.47 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $8.71, for a total transaction of $87,100.00. Following the sale, the chief executive officer now directly owns 1,183,086 shares of the company's stock, valued at $10,304,679.06. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Eren Bali sold 35,518 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total value of $319,662.00. Following the sale, the chief technology officer now owns 2,225,532 shares in the company, valued at $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. Insiders have sold a total of 55,518 shares of company stock valued at $491,762 over the last ninety days. Company insiders own 3.20% of the company's stock.
Institutional Trading of Udemy
A number of institutional investors and hedge funds have recently made changes to their positions in UDMY. Assenagon Asset Management S.A. increased its holdings in Udemy by 102.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 117,556 shares of the company's stock worth $1,015,000 after acquiring an additional 59,614 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Udemy by 18.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 330,044 shares of the company's stock worth $2,848,000 after purchasing an additional 50,473 shares during the last quarter. Versor Investments LP purchased a new position in Udemy in the 2nd quarter valued at about $313,000. Rhumbline Advisers lifted its stake in Udemy by 9.7% in the 2nd quarter. Rhumbline Advisers now owns 131,847 shares of the company's stock valued at $1,138,000 after buying an additional 11,699 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Udemy by 24.4% in the 2nd quarter. Arizona State Retirement System now owns 23,597 shares of the company's stock worth $204,000 after buying an additional 4,635 shares during the last quarter. 79.48% of the stock is currently owned by hedge funds and other institutional investors.
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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