Udemy (NASDAQ:UDMY) Cut to “Underweight” at Morgan Stanley

Morgan Stanley cut shares of Udemy (NASDAQ:UDMY) from an equal weight rating to an underweight rating in a research report released on Friday morning, Marketbeat.com reports. The firm currently has $7.50 target price on the stock, down from their previous target price of $10.00.

A number of other research firms have also weighed in on UDMY. KeyCorp lowered their target price on shares of Udemy from $14.00 to $13.00 and set an overweight rating on the stock in a report on Monday, July 22nd. Robert W. Baird lowered their target price on shares of Udemy from $13.00 to $11.00 and set an outperform rating on the stock in a report on Thursday, August 1st. Truist Financial lowered their target price on shares of Udemy from $15.00 to $10.00 and set a buy rating on the stock in a report on Friday, August 2nd. Cantor Fitzgerald upgraded shares of Udemy to a strong-buy rating in a report on Tuesday, August 13th. Finally, Canaccord Genuity Group started coverage on shares of Udemy in a report on Thursday, August 8th. They issued a buy rating and a $12.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Udemy presently has an average rating of Moderate Buy and an average target price of $11.92.

Udemy Trading Down 2.7 %

Shares of NASDAQ UDMY opened at $7.44 on Friday. The firm’s 50-day moving average price is $7.98 and its 200-day moving average price is $8.97. Udemy has a 1-year low of $6.67 and a 1-year high of $16.01.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). Udemy had a negative net margin of 11.39% and a negative return on equity of 26.62%. The company had revenue of $194.36 million for the quarter, compared to analyst estimates of $194.17 million. On average, analysts predict that Udemy will post -0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total value of $362,250.00. Following the sale, the chief financial officer now directly owns 1,001,761 shares in the company, valued at approximately $8,064,176.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total value of $362,250.00. Following the sale, the chief financial officer now directly owns 1,001,761 shares in the company, valued at approximately $8,064,176.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eren Bali sold 15,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $9.10, for a total transaction of $136,500.00. Following the completion of the sale, the director now owns 1,639,477 shares in the company, valued at $14,919,240.70. The disclosure for this sale can be found here. Insiders have sold 61,000 shares of company stock worth $505,830 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Udemy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ariadne Wealth Management LP purchased a new stake in shares of Udemy during the 2nd quarter valued at $67,000. Quest Partners LLC raised its position in shares of Udemy by 6,957.5% during the 2nd quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock valued at $77,000 after buying an additional 8,836 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Udemy during the 2nd quarter valued at $93,000. Natixis raised its position in shares of Udemy by 60.8% during the 1st quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after buying an additional 3,391 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Udemy by 18.8% during the 1st quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after purchasing an additional 1,904 shares during the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

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.