Udemy (NASDAQ:UDMY) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Udemy (NASDAQ:UDMY) in a research note issued to investors on Friday, Benzinga reports. The firm currently has a $20.00 price target on the stock.

UDMY has been the topic of several other reports. JPMorgan Chase & Co. upped their target price on shares of Udemy from $11.00 to $12.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Robert W. Baird lowered their price target on shares of Udemy from $15.00 to $13.00 and set an outperform rating on the stock in a research report on Friday. TheStreet lowered shares of Udemy from a c- rating to a d+ rating in a research report on Wednesday, March 6th. Jefferies Financial Group lowered their price target on shares of Udemy from $14.00 to $11.00 and set a hold rating on the stock in a research report on Monday, April 29th. Finally, Morgan Stanley lowered their price target on shares of Udemy from $15.00 to $13.00 and set an equal weight rating on the stock in a research report on Friday, April 19th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Udemy has an average rating of Moderate Buy and a consensus price target of $13.90.

Udemy Stock Performance

Shares of UDMY opened at $10.19 on Friday. The firm’s 50-day moving average is $10.63 and its two-hundred day moving average is $12.34. Udemy has a twelve month low of $8.46 and a twelve month high of $16.01.

Udemy (NASDAQ:UDMY) last issued its earnings results on Wednesday, February 14th. The company reported ($0.12) earnings per share for the quarter, topping 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 company had revenue of $189.55 million for the quarter, compared to analyst estimates of $185.71 million. On average, sell-side analysts predict that Udemy will post -0.47 earnings per share for the current year.

Insider Activity at Udemy

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

Hedge Funds Weigh In On Udemy

Large investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC purchased a new position in Udemy during the third quarter worth approximately $29,000. Daiwa Securities Group Inc. increased its position in shares of Udemy by 261.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock worth $70,000 after acquiring an additional 3,420 shares in the last quarter. RIA Advisory Group LLC acquired a new stake in shares of Udemy in the fourth quarter worth $76,000. SG Americas Securities LLC acquired a new stake in shares of Udemy in the third quarter worth $95,000. Finally, Principal Financial Group Inc. increased its position in shares of Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after acquiring an additional 1,904 shares in the last quarter. 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.