Udemy (NASDAQ:UDMY) PT Lowered to $13.00 at KeyCorp

Udemy (NASDAQ:UDMY) had its price objective reduced by KeyCorp from $14.00 to $13.00 in a report released on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently commented on the company. Jefferies Financial Group cut their target price on Udemy from $14.00 to $11.00 and set a hold rating on the stock in a research note on Monday, April 29th. Cantor Fitzgerald reissued an overweight rating and issued a $20.00 target price on shares of Udemy in a research report on Friday, May 3rd. Morgan Stanley reduced their price target on shares of Udemy from $15.00 to $13.00 and set an equal weight rating for the company in a research note on Friday, April 19th. Needham & Company LLC reissued a buy rating and set a $15.00 price objective on shares of Udemy in a report on Friday, May 3rd. Finally, Robert W. Baird lowered their price target on Udemy from $15.00 to $13.00 and set an outperform rating on the stock in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $13.80.

Udemy Price Performance

Shares of NASDAQ:UDMY opened at $8.52 on Monday. The business has a fifty day moving average price of $8.66 and a 200-day moving average price of $10.54. The company has a market capitalization of $1.30 billion, a PE ratio of -15.96 and a beta of 2.00. Udemy has a 1-year low of $7.91 and a 1-year high of $16.01.

Udemy (NASDAQ:UDMY) last issued its earnings results on Thursday, May 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. Udemy had a negative net margin of 10.82% and a negative return on equity of 23.10%. The business had revenue of $196.85 million during the quarter, compared to analysts’ expectations of $194.83 million. On average, sell-side analysts anticipate that Udemy will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Udemy

In other news, CTO Venu Venugopal sold 7,086 shares of Udemy stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $9.89, for a total transaction of $70,080.54. Following the transaction, the chief technology officer now directly owns 429,927 shares of the company’s stock, valued at approximately $4,251,978.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Sarah Blanchard sold 45,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $9.53, for a total value of $428,850.00. Following the completion of the transaction, the chief financial officer now owns 1,096,663 shares of the company’s stock, valued at $10,451,198.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Venu Venugopal sold 7,086 shares of Udemy stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $9.89, for a total value of $70,080.54. Following the sale, the chief technology officer now directly owns 429,927 shares in the company, valued at approximately $4,251,978.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,486 shares of company stock valued at $604,441. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sea Cliff Partners Management LP purchased a new position in shares of Udemy in the fourth quarter worth $25,661,000. Inflection Point Investments LLP bought a new stake in Udemy in the 4th quarter valued at $21,390,000. Vanguard Group Inc. lifted its stake in Udemy by 19.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock worth $84,175,000 after purchasing an additional 1,433,980 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new position in shares of Udemy during the 1st quarter valued at about $8,109,000. Finally, Invenomic Capital Management LP increased its holdings in shares of Udemy by 22.9% in the first quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company’s stock worth $30,167,000 after purchasing an additional 512,618 shares during the last quarter. 79.48% of the stock is currently owned by institutional investors.

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.