Udemy (NASDAQ:UDMY) Shares Down 6.3% – Time to Sell?

Udemy, Inc. (NASDAQ:UDMY)’s stock price was down 6.3% during trading on Wednesday . The stock traded as low as $8.77 and last traded at $8.58. Approximately 361,899 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 884,215 shares. The stock had previously closed at $9.16.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Scotiabank initiated coverage on Udemy in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective for the company. Morgan Stanley increased their target price on Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. William Blair lowered shares of Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Udemy in a research note on Wednesday. Finally, Canaccord Genuity Group boosted their target price on shares of Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.95.

Udemy Trading Down 1.5 %

The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -13.88 and a beta of 1.76. The business has a 50-day moving average price of $8.57 and a two-hundred day moving average price of $8.23.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The company had revenue of $199.94 million for the quarter, compared to the consensus estimate of $194.70 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. On average, equities research analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity at Udemy

In other news, CTO Eren Bali sold 69,482 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $9.00, for a total transaction of $625,338.00. Following the completion of the transaction, the chief technology officer now directly owns 2,156,050 shares in the company, valued at approximately $19,404,450. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $9.43, for a total value of $94,300.00. Following the completion of the sale, the chief executive officer now owns 1,141,896 shares in the company, valued at approximately $10,768,079.28. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,294,322 shares of company stock worth $25,953,218 in the last ninety days. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC grew its position in Udemy by 6.2% in the 4th quarter. MetLife Investment Management LLC now owns 59,465 shares of the company’s stock valued at $489,000 after buying an additional 3,450 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Udemy during the 4th quarter valued at $31,000. Point72 DIFC Ltd acquired a new position in shares of Udemy during the 3rd quarter valued at $30,000. Quarry LP acquired a new stake in shares of Udemy in the fourth quarter valued at $34,000. Finally, Price T Rowe Associates Inc. MD raised its position in Udemy by 14.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,064 shares of the company’s stock worth $297,000 after acquiring an additional 4,418 shares in the last quarter. Institutional investors and hedge funds 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.