Udemy’s (UDMY) “Hold” Rating Reaffirmed at Truist Financial

Truist Financial reiterated their hold rating on shares of Udemy (NASDAQ:UDMY) in a research report report published on Monday, Marketbeat Ratings reports. The brokerage currently has a $7.00 price objective on the stock, down from their prior price objective of $10.00.

A number of other research analysts also recently weighed in on UDMY. Canaccord Genuity Group lifted their price target on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Udemy in a research note on Wednesday, March 12th. Morgan Stanley increased their price target on shares of Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Finally, William Blair downgraded shares of Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.68.

Udemy Trading Up 17.6 %

NASDAQ UDMY opened at $6.80 on Monday. Udemy has a 1 year low of $5.68 and a 1 year high of $11.60. The company has a market cap of $1.00 billion, a PE ratio of -11.93 and a beta of 1.81. The stock’s 50-day moving average price is $8.40 and its two-hundred day moving average price is $8.18.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.10). Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The firm had revenue of $199.94 million during the quarter, compared to analysts’ expectations of $194.70 million. Research analysts forecast that Udemy will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Ltd Naspers sold 3,200,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total value of $25,088,000.00. Following the completion of the sale, the insider now directly owns 13,920,840 shares in the company, valued at approximately $109,139,385.60. The trade was a 18.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Eren Bali sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.02, for a total value of $80,200.00. Following the sale, the chief technology officer now directly owns 2,146,050 shares of the company’s stock, valued at $17,211,321. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,305,168 shares of company stock valued at $26,040,186 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

A number of institutional investors and hedge funds have recently modified their holdings of UDMY. Charles Schwab Investment Management Inc. raised its holdings in Udemy by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company’s stock worth $5,669,000 after acquiring an additional 27,959 shares during the period. FMR LLC grew its position in shares of Udemy by 2.8% in the third quarter. FMR LLC now owns 1,330,073 shares of the company’s stock valued at $9,896,000 after purchasing an additional 36,380 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Udemy in the third quarter worth about $30,000. State Street Corp increased its stake in shares of Udemy by 0.8% in the third quarter. State Street Corp now owns 1,934,473 shares of the company’s stock worth $14,392,000 after purchasing an additional 15,339 shares during the period. Finally, Barclays PLC lifted its position in shares of Udemy by 360.6% during the 3rd quarter. Barclays PLC now owns 155,719 shares of the company’s stock worth $1,158,000 after purchasing an additional 121,911 shares during the last quarter. 79.48% of the stock is currently 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.