Udemy (NASDAQ:UDMY) Stock Price Down 11.6% – Time to Sell?

Udemy, Inc. (NASDAQ:UDMY)’s stock price fell 11.6% on Monday . The stock traded as low as $5.84 and last traded at $5.88. 113,528 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 936,454 shares. The stock had previously closed at $6.65.

Analysts Set New Price Targets

UDMY has been the topic of a number of research reports. Canaccord Genuity Group boosted their target price on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Morgan Stanley upped their price objective on shares of Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of Udemy in a research note on Wednesday, March 12th. Truist Financial reaffirmed a “hold” rating and issued a $7.00 target price (down from $10.00) on shares of Udemy in a research report on Monday. Finally, William Blair lowered Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.68.

Udemy Price Performance

The company has a market cap of $892.37 million, a P/E ratio of -10.60 and a beta of 1.81. The stock has a fifty day moving average price of $8.54 and a two-hundred day moving average price of $8.25.

Udemy (NASDAQ:UDMY) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The company had revenue of $199.94 million during the quarter, compared to analysts’ expectations of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. Equities analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity at Udemy

In related news, major shareholder Ltd Naspers sold 3,200,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 13,920,840 shares in the company, valued at approximately $109,139,385.60. This trade represents a 18.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Eren Bali sold 10,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.02, for a total transaction of $80,200.00. Following the completion of the transaction, the chief technology officer now owns 2,146,050 shares in the company, valued at approximately $17,211,321. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,305,168 shares of company stock valued at $26,040,186 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Udemy

Large investors have recently modified their holdings of the stock. Intech Investment Management LLC bought a new position in Udemy during the third quarter valued at $161,000. Charles Schwab Investment Management Inc. lifted its position in shares of Udemy by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company’s stock valued at $5,669,000 after buying an additional 27,959 shares during the last quarter. FMR LLC grew its stake in shares of Udemy by 2.8% during the 3rd quarter. FMR LLC now owns 1,330,073 shares of the company’s stock worth $9,896,000 after acquiring an additional 36,380 shares during the period. Point72 DIFC Ltd purchased a new stake in Udemy in the 3rd quarter worth about $30,000. Finally, State Street Corp raised its stake in Udemy by 0.8% in the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company’s stock valued at $14,392,000 after acquiring an additional 15,339 shares during the period. Hedge funds and other institutional investors 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.