Udemy (NASDAQ:UDMY) Reaches New 52-Week Low – Time to Sell?

Udemy, Inc. (NASDAQ:UDMY) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $4.09 and last traded at $4.17, with a volume of 25394 shares. The stock had previously closed at $4.73.

Analyst Upgrades and Downgrades

UDMY has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Udemy in a research note on Wednesday, January 21st. KeyCorp cut shares of Udemy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, January 13th. Finally, Canaccord Genuity Group set a $5.00 target price on shares of Udemy in a report on Monday, February 9th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.17.

Udemy Price Performance

The firm’s fifty day simple moving average is $4.78 and its 200 day simple moving average is $5.26. The company has a market capitalization of $618.04 million, a price-to-earnings ratio of 211.86 and a beta of 1.68.

Udemy (NASDAQ:UDMY) last announced its earnings results on Thursday, February 5th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Udemy had a net margin of 0.48% and a return on equity of 4.84%. The company had revenue of $193.99 million during the quarter, compared to analysts’ expectations of $193.40 million. During the same period last year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities research analysts forecast that Udemy, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Udemy

In other news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $4.78, for a total value of $119,500.00. Following the transaction, the chief financial officer owned 1,455,763 shares in the company, valued at $6,958,547.14. This represents a 1.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. acquired a new position in Udemy in the 2nd quarter valued at approximately $56,000. State of Alaska Department of Revenue acquired a new stake in shares of Udemy during the 3rd quarter valued at $56,000. CIBC Bancorp USA Inc. purchased a new position in shares of Udemy during the 3rd quarter valued at $73,000. Prelude Capital Management LLC purchased a new position in shares of Udemy during the 3rd quarter valued at $79,000. Finally, Prudential Financial Inc. purchased a new position in shares of Udemy during the 2nd quarter valued at $79,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

Udemy Company Profile

Udemy, Inc (NASDAQ: UDMY) operates a leading online learning marketplace that connects learners and instructors across a wide range of subject areas. The company’s platform hosts thousands of self-paced video courses covering technology, business, personal development, creative arts and more. Individual learners can purchase courses on demand, while instructors receive revenue share for teaching content to a global audience.

In addition to its consumer-facing marketplace, Udemy provides enterprise learning solutions under the Udemy for Business brand.