Udemy (NASDAQ:UDMY) Shares Gap Up to $9.89

Udemy, Inc. (NASDAQ:UDMY)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $9.89, but opened at $11.60. Udemy shares last traded at $10.81, with a volume of 889,783 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on UDMY shares. Morgan Stanley lowered their price objective on Udemy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Robert W. Baird reduced their price objective on shares of Udemy from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday. Truist Financial lifted their target price on shares of Udemy from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. TheStreet cut shares of Udemy from a “c-” rating to a “d+” rating in a report on Wednesday, March 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price objective on shares of Udemy in a research note on Friday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.90.

Udemy Price Performance

The firm has a market cap of $1.55 billion, a P/E ratio of -19.11 and a beta of 2.12. The company’s 50 day moving average is $10.65 and its two-hundred day moving average is $12.32.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.04. Udemy had a negative return on equity of 22.29% and a negative net margin of 10.82%. The firm had revenue of $189.55 million during the quarter, compared to analysts’ expectations of $185.71 million. Research analysts predict that Udemy, Inc. will post -0.47 EPS for the current year.

Insider Buying and Selling

In other Udemy news, CTO Venu Venugopal sold 6,981 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $10.82, for a total value of $75,534.42. Following the sale, the chief technology officer now owns 334,319 shares of the company’s stock, valued at approximately $3,617,331.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $10.96, for a total value of $164,400.00. Following the sale, the director now directly owns 1,661,050 shares in the company, valued at approximately $18,205,108. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Venu Venugopal sold 6,981 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $10.82, for a total value of $75,534.42. Following the completion of the transaction, the chief technology officer now directly owns 334,319 shares of the company’s stock, valued at $3,617,331.58. The disclosure for this sale can be found here. Insiders sold a total of 46,981 shares of company stock valued at $514,884 over the last ninety days. 3.20% of the stock is owned by company insiders.

Institutional Trading of Udemy

Several institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Udemy by 5.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,903 shares of the company’s stock valued at $205,000 after acquiring an additional 732 shares during the period. Principal Financial Group Inc. increased its position in shares of 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 in the last quarter. Swiss National Bank lifted its holdings in Udemy by 2.0% during the 3rd quarter. Swiss National Bank now owns 145,200 shares of the company’s stock valued at $1,379,000 after purchasing an additional 2,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Udemy by 28.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock valued at $125,000 after buying an additional 2,880 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in Udemy during the third quarter worth about $29,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

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.