Udemy (NASDAQ:UDMY) Shares Gap Down – Time to Sell?

Shares of Udemy, Inc. (NASDAQ:UDMY) gapped down before the market opened on Friday . The stock had previously closed at $8.18, but opened at $8.00. Udemy shares last traded at $7.99, with a volume of 107,484 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on UDMY. Cantor Fitzgerald raised Udemy to a “strong-buy” rating in a research note on Tuesday, August 13th. Morgan Stanley lowered shares of Udemy from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $10.00 to $7.50 in a report on Friday, September 27th. Bank of America lowered shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 target price for the company. in a research note on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of Udemy in a research note on Thursday, August 1st. Finally, Truist Financial lowered their price objective on shares of Udemy from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Udemy presently has an average rating of “Moderate Buy” and an average target price of $11.92.

Udemy Price Performance

The stock has a market cap of $1.19 billion, a P/E ratio of -14.35 and a beta of 1.97. The stock’s fifty day simple moving average is $7.93 and its 200-day simple moving average is $8.58.

Udemy (NASDAQ:UDMY) last released its earnings results on Wednesday, July 31st. The company reported ($0.20) EPS 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. Analysts forecast that Udemy, Inc. will post -0.52 EPS for the current year.

Insider Transactions at Udemy

In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total value of $362,250.00. Following the transaction, the chief financial officer now directly owns 1,001,761 shares of the company’s stock, valued at $8,064,176.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.20% of the stock is owned by insiders.

Institutional Trading of Udemy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Udemy by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 9,355,870 shares of the company’s stock worth $137,812,000 after buying an additional 495,380 shares in the last quarter. Principal Financial Group Inc. boosted its position 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 acquiring an additional 1,904 shares in the last quarter. SpiderRock Advisors LLC bought a new stake in Udemy in the first quarter valued at about $750,000. Swiss National Bank raised its position in Udemy by 2.2% in the first quarter. Swiss National Bank now owns 136,200 shares of the company’s stock worth $1,495,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Udemy during the first quarter worth about $350,000. 79.48% of the stock is currently owned by institutional investors and hedge funds.

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.