Udemy (NASDAQ:UDMY) Trading Down 6.8% – What’s Next?

Shares of Udemy, Inc. (NASDAQ:UDMY) traded down 6.8% during mid-day trading on Tuesday . The stock traded as low as $5.46 and last traded at $5.4250. 735,482 shares were traded during mid-day trading, a decline of 54% from the average session volume of 1,608,418 shares. The stock had previously closed at $5.82.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on UDMY shares. Wall Street Zen upgraded Udemy from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Udemy in a research report on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Udemy in a research note on Thursday, October 30th. Canaccord Genuity Group downgraded Udemy from a “buy” rating to a “hold” rating and cut their price objective for the company from $12.00 to $7.00 in a report on Wednesday, December 17th. Finally, KeyCorp downgraded shares of Udemy from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.00.

Udemy Price Performance

The stock has a market capitalization of $749.47 million, a P/E ratio of -170.61 and a beta of 1.73. The stock’s 50-day simple moving average is $5.43 and its 200 day simple moving average is $6.39.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $195.68 million for the quarter, compared to analyst estimates of $193.09 million. Udemy had a negative net margin of 0.47% and a positive return on equity of 2.11%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. As a group, analysts expect that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Sarah Blanchard sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $5.25, for a total transaction of $131,250.00. Following the completion of the sale, the chief financial officer owned 1,208,046 shares in the company, valued at $6,342,241.50. The trade was a 2.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Udemy

Institutional investors have recently added to or reduced their stakes in the company. Westerly Capital Management LLC acquired a new position in Udemy in the 3rd quarter valued at $15,878,000. Assenagon Asset Management S.A. grew its stake in shares of Udemy by 70.8% in the third quarter. Assenagon Asset Management S.A. now owns 4,474,417 shares of the company’s stock valued at $31,366,000 after acquiring an additional 1,854,550 shares in the last quarter. UBS Group AG increased its position in Udemy by 56.8% during the third quarter. UBS Group AG now owns 1,786,371 shares of the company’s stock worth $12,522,000 after acquiring an additional 646,755 shares during the period. JPMorgan Chase & Co. raised its stake in Udemy by 455.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 703,957 shares of the company’s stock worth $4,949,000 after purchasing an additional 577,155 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in Udemy in the 3rd quarter valued at about $3,831,000. 79.48% of the stock is currently owned by institutional investors.

Udemy Company Profile

Udemy, Inc (NASDAQ: UDMY) operates a leading online learning marketplace that connects learners and instructors across a wide range of subject areas. The company’s platform hosts thousands of self-paced video courses covering technology, business, personal development, creative arts and more. Individual learners can purchase courses on demand, while instructors receive revenue share for teaching content to a global audience.

In addition to its consumer-facing marketplace, Udemy provides enterprise learning solutions under the Udemy for Business brand.