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

Udemy, Inc. (NASDAQ:UDMY)’s share price gapped up before the market opened 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on UDMY shares. TheStreet lowered shares of Udemy from a “c-” rating to a “d+” rating in a report on Wednesday, March 6th. Morgan Stanley lowered their price target on Udemy from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Udemy in a research note on Friday. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price target on shares of Udemy in a research report on Friday. Finally, Robert W. Baird lowered their price target on shares of Udemy from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Friday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Udemy presently has an average rating of “Moderate Buy” and a consensus target price of $13.90.

Udemy Trading Up 2.4 %

The stock has a fifty day moving average of $10.66 and a 200-day moving average of $12.30. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -14.07 and a beta of 2.12.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Udemy had a negative return on equity of 27.31% and a negative net margin of 14.72%. The firm had revenue of $189.55 million for the quarter, compared to analysts’ expectations of $185.71 million. As a group, equities research analysts forecast that Udemy, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Udemy

In other Udemy news, Director Eren Bali sold 15,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $10.97, for a total transaction of $164,550.00. Following the completion of the transaction, the director now owns 1,676,050 shares of the company’s stock, valued at approximately $18,386,268.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $10.97, for a total value of $164,550.00. Following the completion of the transaction, the director now directly owns 1,676,050 shares in the company, valued at $18,386,268.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $11.04, for a total value of $110,400.00. Following the transaction, the chief executive officer now owns 1,163,328 shares of the company’s stock, valued at approximately $12,843,141.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,981 shares of company stock valued at $514,884. Insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

Large investors have recently made changes to their positions in the business. Venturi Wealth Management LLC acquired a new position in Udemy during the 3rd quarter worth about $29,000. Daiwa Securities Group Inc. grew its stake in shares of Udemy by 261.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after purchasing an additional 3,420 shares during the last quarter. RIA Advisory Group LLC acquired a new stake in shares of Udemy in the fourth quarter valued at approximately $76,000. SG Americas Securities LLC acquired a new position in Udemy during the 3rd quarter worth $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Udemy by 28.0% in the 3rd 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 during the last quarter. 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.