William Blair Downgrades Udemy (NASDAQ:UDMY) to Market Perform

William Blair downgraded shares of Udemy (NASDAQ:UDMY) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports.

A number of other equities analysts have also commented on the stock. Canaccord Genuity Group lifted their price target on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Udemy in a research report on Wednesday. Morgan Stanley lifted their price target on shares of Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Finally, Scotiabank began coverage on shares of Udemy in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.95.

Udemy Stock Down 12.3 %

NASDAQ UDMY opened at $8.03 on Wednesday. The stock has a market capitalization of $1.19 billion, a PE ratio of -14.09 and a beta of 1.76. The company has a 50 day moving average price of $8.58 and a two-hundred day moving average price of $8.23. Udemy has a 12-month low of $6.67 and a 12-month high of $11.65.

Udemy (NASDAQ:UDMY) last posted its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The business had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. As a group, equities analysts anticipate that Udemy will post -0.09 EPS for the current year.

Insider Buying and Selling

In other Udemy news, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the sale, the insider now owns 13,920,840 shares in the company, valued at $109,139,385.60. The trade was a 18.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $9.43, for a total transaction of $94,300.00. Following the sale, the chief executive officer now owns 1,141,896 shares in the company, valued at $10,768,079.28. This represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,294,322 shares of company stock valued at $25,953,218. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Udemy

A number of institutional investors have recently bought and sold shares of the business. MetLife Investment Management LLC boosted its stake in Udemy by 6.2% during the fourth quarter. MetLife Investment Management LLC now owns 59,465 shares of the company’s stock worth $489,000 after buying an additional 3,450 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Udemy during the fourth quarter worth $31,000. Point72 DIFC Ltd acquired a new stake in Udemy during the third quarter worth $30,000. Quarry LP acquired a new stake in Udemy during the fourth quarter worth $34,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Udemy by 14.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,064 shares of the company’s stock worth $297,000 after buying an additional 4,418 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.