Udemy (NASDAQ:UDMY) Rating Lowered to Neutral at Bank of America

Bank of America downgraded shares of Udemy (NASDAQ:UDMY) from a buy rating to a neutral rating in a report issued on Thursday morning, Marketbeat Ratings reports. They currently have $8.50 price objective on the stock.

A number of other analysts also recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of Udemy from $14.00 to $11.00 and set a hold rating on the stock in a report on Monday, April 29th. Cantor Fitzgerald reissued an overweight rating and set a $20.00 price objective on shares of Udemy in a report on Friday, May 3rd. Morgan Stanley decreased their price objective on shares of Udemy from $15.00 to $13.00 and set an equal weight rating on the stock in a report on Friday, April 19th. KeyCorp decreased their price objective on shares of Udemy from $14.00 to $13.00 and set an overweight rating on the stock in a report on Monday, July 22nd. Finally, Robert W. Baird decreased their price objective on shares of Udemy from $13.00 to $11.00 and set an outperform rating on the stock in a report on Thursday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $12.45.

Udemy Stock Down 1.5 %

Shares of Udemy stock opened at $7.41 on Thursday. Udemy has a 52-week low of $6.92 and a 52-week high of $16.01. The company’s 50-day simple moving average is $8.50 and its 200-day simple moving average is $10.28. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -13.98 and a beta of 2.01.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Udemy had a negative net margin of 11.39% and a negative return on equity of 25.00%. The business had revenue of $196.85 million for the quarter, compared to analyst estimates of $194.83 million. Equities research analysts anticipate that Udemy will post -0.45 EPS for the current year.

Insider Activity

In other news, Director Eren Bali sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $9.10, for a total value of $136,500.00. Following the completion of the transaction, the director now owns 1,639,477 shares of the company’s stock, valued at $14,919,240.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Sarah Blanchard sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $9.53, for a total transaction of $428,850.00. Following the completion of the transaction, the chief financial officer now owns 1,096,663 shares of the company’s stock, valued at $10,451,198.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $9.10, for a total transaction of $136,500.00. Following the transaction, the director now directly owns 1,639,477 shares of the company’s stock, valued at approximately $14,919,240.70. The disclosure for this sale can be found here. Insiders sold a total of 79,486 shares of company stock valued at $740,941 over the last 90 days. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Udemy

Several large investors have recently made changes to their positions in UDMY. Pathway Capital Management LP bought a new position in shares of Udemy during the fourth quarter valued at approximately $3,983,000. Vanguard Group Inc. grew its holdings in shares of Udemy by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 9,355,870 shares of the company’s stock valued at $137,812,000 after purchasing an additional 495,380 shares during the last quarter. Partners Group Holding AG bought a new position in shares of Udemy during the fourth quarter valued at approximately $1,928,000. Invenomic Capital Management LP grew its holdings in Udemy by 5.5% in the 4th quarter. Invenomic Capital Management LP now owns 2,234,835 shares of the company’s stock worth $32,919,000 after buying an additional 116,432 shares in the last quarter. Finally, Greenvale Capital LLP grew its holdings in Udemy by 2.3% in the 4th quarter. Greenvale Capital LLP now owns 6,600,000 shares of the company’s stock worth $97,218,000 after buying an additional 150,000 shares in the last quarter. 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.