Udemy (NASDAQ:UDMY) Stock Price Down 4.8%

Udemy, Inc. (NASDAQ:UDMY)’s stock price fell 4.8% on Tuesday . The stock traded as low as $8.14 and last traded at $8.14. 223,660 shares were traded during trading, a decline of 75% from the average session volume of 908,347 shares. The stock had previously closed at $8.55.

Wall Street Analyst Weigh In

UDMY has been the topic of a number of recent analyst reports. KeyCorp dropped their target price on shares of Udemy from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Robert W. Baird cut their target price on Udemy from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price on shares of Udemy in a research report on Friday, May 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price target on shares of Udemy in a research report on Friday, May 3rd. Finally, Morgan Stanley decreased their price objective on Udemy from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.90.

Udemy Stock Performance

The company’s fifty day moving average is $8.91 and its two-hundred day moving average is $10.93. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -15.62 and a beta of 2.00.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $196.85 million for the quarter, compared to analyst estimates of $194.83 million. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. As a group, analysts forecast that Udemy, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Udemy

In other news, CTO Venu Venugopal sold 7,086 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $9.89, for a total transaction of $70,080.54. Following the transaction, the chief technology officer now directly owns 429,927 shares of the company’s stock, valued at $4,251,978.03. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $9.53, for a total value of $428,850.00. Following the transaction, the chief financial officer now directly owns 1,096,663 shares of the company’s stock, valued at approximately $10,451,198.39. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Venu Venugopal sold 7,086 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $9.89, for a total transaction of $70,080.54. Following the sale, the chief technology officer now directly owns 429,927 shares of the company’s stock, valued at approximately $4,251,978.03. The disclosure for this sale can be found here. Insiders sold 64,486 shares of company stock valued at $604,441 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in UDMY. Daiwa Securities Group Inc. increased its position in shares of Udemy by 261.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock worth $70,000 after purchasing an additional 3,420 shares during the last quarter. RIA Advisory Group LLC acquired a new stake in Udemy during the fourth quarter valued at approximately $76,000. Natixis lifted its holdings in Udemy by 60.8% during the 1st quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after buying an additional 3,391 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Udemy by 18.8% in the 1st quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after acquiring an additional 1,904 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Udemy by 10.7% in the 1st quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after acquiring an additional 1,553 shares during the last quarter. 79.48% of the stock is currently 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.