Udemy (NASDAQ:UDMY) Given “Hold” Rating at Truist Financial

Udemy (NASDAQ:UDMY)‘s stock had its “hold” rating restated by investment analysts at Truist Financial in a research note issued on Monday,Benzinga reports. They currently have a $7.00 price objective on the stock, down from their prior price objective of $10.00. Truist Financial’s target price indicates a potential upside of 13.07% from the stock’s current price.

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

Udemy Stock Performance

NASDAQ:UDMY traded down $0.46 during mid-day trading on Monday, hitting $6.19. 113,528 shares of the company’s stock traded hands, compared to its average volume of 936,520. The company has a market cap of $914.68 million, a PE ratio of -10.32 and a beta of 1.81. The firm’s 50 day simple moving average is $8.54 and its 200 day simple moving average is $8.25. Udemy has a 1 year low of $5.85 and a 1 year high of $11.60.

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

Insider Transactions at Udemy

In other news, Director Heather Hiles sold 14,840 shares of Udemy stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the sale, the director now owns 42,667 shares in the company, valued at $418,563.27. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the completion of the transaction, the insider now owns 13,920,840 shares of the company’s stock, valued at $109,139,385.60. This trade represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,305,168 shares of company stock worth $26,040,186. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Udemy

Institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC increased its holdings in Udemy by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 59,465 shares of the company’s stock worth $489,000 after purchasing an additional 3,450 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Udemy during the 4th quarter worth approximately $31,000. Point72 DIFC Ltd acquired a new position in shares of Udemy during the third quarter valued at $30,000. Quarry LP acquired a new stake in shares of Udemy in the fourth quarter valued at approximately $34,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Udemy by 14.0% during the 4th 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 during the period. 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.