Udemy (NASDAQ:UDMY) Rating Increased to Strong-Buy at Cantor Fitzgerald

Udemy (NASDAQ:UDMY) was upgraded by investment analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued on Tuesday, Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. Truist Financial lowered their price target on Udemy from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Canaccord Genuity Group started coverage on shares of Udemy in a research report on Thursday, August 8th. They issued a “buy” rating and a $12.00 target price on the stock. KeyCorp cut their price target on shares of Udemy from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Jefferies Financial Group decreased their price objective on shares of Udemy from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Udemy in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Udemy presently has an average rating of “Moderate Buy” and an average target price of $12.38.

Udemy Stock Performance

NASDAQ:UDMY opened at $7.12 on Tuesday. Udemy has a 1 year low of $6.67 and a 1 year high of $16.01. The stock has a market cap of $1.09 billion, a P/E ratio of -13.43 and a beta of 2.01. The stock has a 50-day simple moving average of $8.26 and a 200-day simple moving average of $9.95.

Insider Buying and Selling at Udemy

In related news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $8.50, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the completion of the sale, the chief executive officer now directly 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 Securities & Exchange Commission, which can be accessed through this link. Also, CTO Venu Venugopal sold 7,086 shares of the company’s 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 transaction, 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. In the last three months, insiders have sold 80,486 shares of company stock valued at $748,021. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Udemy

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Udemy by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 9,472,216 shares of the company’s stock worth $104,005,000 after buying an additional 116,346 shares during the last quarter. Greenvale Capital LLP grew its stake in Udemy by 2.3% in the 4th quarter. Greenvale Capital LLP now owns 6,600,000 shares of the company’s stock valued at $97,218,000 after acquiring an additional 150,000 shares during the last quarter. Invenomic Capital Management LP increased its holdings in Udemy by 22.9% during the 1st quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company’s stock valued at $30,167,000 after acquiring an additional 512,618 shares in the last quarter. Sea Cliff Partners Management LP acquired a new position in Udemy during the fourth quarter worth about $25,661,000. Finally, Inflection Point Investments LLP purchased a new stake in shares of Udemy in the fourth quarter valued at about $21,390,000. Hedge funds and other 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.