Truist Financial Trims Udemy (NASDAQ:UDMY) Target Price to $10.00

Udemy (NASDAQ:UDMY) had its target price reduced by Truist Financial from $15.00 to $10.00 in a research report sent to investors on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

UDMY has been the topic of a number of other research reports. Cantor Fitzgerald dropped their target price on shares of Udemy from $20.00 to $18.00 and set an overweight rating on the stock in a research report on Thursday, August 1st. Bank of America lowered shares of Udemy from a buy rating to a neutral rating and set a $8.50 price objective for the company. in a research report on Thursday, August 1st. KeyCorp decreased their target price on Udemy from $14.00 to $13.00 and set an overweight rating on the stock in a research report on Monday, July 22nd. Needham & Company LLC reaffirmed a buy rating and issued a $15.00 price target on shares of Udemy in a report on Thursday, August 1st. Finally, Jefferies Financial Group decreased their price objective on Udemy from $14.00 to $11.00 and set a hold rating on the stock in a report on Monday, April 29th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $12.45.

Udemy Stock Down 4.0 %

Shares of NASDAQ:UDMY opened at $7.11 on Friday. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -13.30 and a beta of 2.01. The business has a 50 day moving average price of $8.50 and a 200 day moving average price of $10.28. Udemy has a twelve month low of $6.67 and a twelve month high of $16.01.

Insider Buying and Selling at Udemy

In other news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the sale, the chief executive officer now owns 1,273,406 shares of the company’s stock, valued at approximately $10,823,951. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Udemy news, CTO Venu Venugopal sold 7,086 shares of Udemy stock in a transaction on Friday, May 17th. The stock was sold at an average price of $9.89, for a total value of $70,080.54. Following the completion of the transaction, the chief technology officer now owns 429,927 shares in the company, valued at approximately $4,251,978.03. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,273,406 shares of the company’s stock, valued at $10,823,951. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,486 shares of company stock valued at $748,021. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Udemy

A number of hedge funds have recently added to or reduced their stakes in UDMY. Daiwa Securities Group Inc. grew its stake in shares of Udemy by 261.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after purchasing an additional 3,420 shares during the last quarter. RIA Advisory Group LLC acquired a new position in shares of Udemy during the fourth quarter valued at $76,000. Natixis boosted its holdings in Udemy by 60.8% in the first quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after acquiring an additional 3,391 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Udemy by 18.8% during the 1st quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after purchasing an additional 1,904 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in Udemy by 10.7% during the 1st quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after purchasing an additional 1,553 shares during the period. Institutional investors 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.