Brokerages Set Udemy, Inc. (NASDAQ:UDMY) PT at $10.92

Shares of Udemy, Inc. (NASDAQ:UDMY) have earned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $10.92.

Several equities research analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Udemy in a report on Friday, January 17th. Scotiabank assumed coverage on Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target on the stock. Morgan Stanley downgraded Udemy from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $10.00 to $7.50 in a report on Friday, September 27th. Finally, Cantor Fitzgerald cut their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th.

Udemy Trading Down 4.9 %

UDMY stock opened at $7.44 on Thursday. Udemy has a 12-month low of $6.67 and a 12-month high of $14.74. The business’s fifty day moving average price is $8.16 and its 200 day moving average price is $8.09.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The firm had revenue of $195.42 million for the quarter, compared to the consensus estimate of $192.69 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Udemy will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Udemy

In other Udemy news, major shareholder Ltd Naspers sold 3,200,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 13,920,840 shares of the company’s stock, valued at approximately $109,139,385.60. This trade represents a 18.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the sale, the chief executive officer now directly owns 1,203,727 shares of the company’s stock, valued at $10,231,679.50. The trade was a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,255,518 shares of company stock valued at $25,579,762 in the last three months. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Udemy

Hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new stake in Udemy during the 3rd quarter worth approximately $30,000. Nisa Investment Advisors LLC lifted its position in Udemy by 496.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after acquiring an additional 6,010 shares during the period. Ariadne Wealth Management LP acquired a new stake in Udemy during the 2nd quarter worth approximately $67,000. Victory Capital Management Inc. acquired a new stake in Udemy during the 3rd quarter worth approximately $75,000. Finally, Quest Partners LLC raised its stake 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 worth $77,000 after buying an additional 8,836 shares in the last quarter. 79.48% of the stock is owned by institutional investors and hedge funds.

About Udemy

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.