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

Shares of Udemy, Inc. (NASDAQ:UDMY) 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.

Analyst Ratings Changes

A number of brokerages have commented on UDMY. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price objective on shares of Udemy in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of Udemy from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Morgan Stanley lowered 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 reduced their price objective on shares of Udemy from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Friday. Finally, TheStreet downgraded shares of Udemy from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on 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 company’s fifty day moving average price is $10.65 and its 200 day moving average price is $12.32. The company has a market cap of $1.55 billion, a PE ratio of -19.11 and a beta of 2.12.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data 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 net margin of 10.82% and a negative return on equity of 22.29%. The firm had revenue of $189.55 million during the quarter, compared to analyst estimates of $185.71 million. On average, analysts forecast that Udemy, Inc. will post -0.47 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Udemy

Several large investors have recently added to or reduced their stakes in UDMY. Venturi Wealth Management LLC purchased a new stake in Udemy during the third quarter valued at about $29,000. Daiwa Securities Group Inc. boosted its holdings in Udemy by 261.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock worth $70,000 after buying an additional 3,420 shares during the period. RIA Advisory Group LLC purchased a new position in Udemy in the 4th quarter valued at approximately $76,000. SG Americas Securities LLC bought a new stake in Udemy during the 3rd quarter valued at $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Udemy by 28.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock valued at $125,000 after acquiring an additional 2,880 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.