Udemy (NASDAQ:UDMY) Downgraded by Morgan Stanley

Udemy (NASDAQ:UDMY) was downgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued on Friday, FinViz reports. They presently have a $7.50 price objective on the stock, down from their prior price objective of $10.00. Morgan Stanley’s price objective would indicate a potential downside of 7.75% from the company’s previous close.

UDMY has been the topic of several other research reports. Bank of America cut shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 target price on the stock. in a report on Thursday, August 1st. Cantor Fitzgerald upgraded shares of Udemy to a “strong-buy” rating in a research note on Tuesday, August 13th. Canaccord Genuity Group began coverage on Udemy in a research note on Thursday, August 8th. They issued a “buy” rating and a $12.00 price target on the stock. Canaccord Genuity Group started coverage on Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of Udemy in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Udemy currently has a consensus rating of “Moderate Buy” and an average price target of $11.92.

Udemy Trading Up 1.2 %

NASDAQ UDMY opened at $8.13 on Friday. Udemy has a twelve month low of $6.67 and a twelve month high of $16.01. The stock has a market cap of $1.22 billion, a PE ratio of -15.34 and a beta of 1.99. The stock has a fifty day simple moving average of $7.99 and a 200-day simple moving average of $9.03.

Udemy (NASDAQ:UDMY) last released its earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). Udemy had a negative net margin of 11.39% and a negative return on equity of 26.62%. The firm had revenue of $194.36 million during the quarter, compared to analyst estimates of $194.17 million. Research analysts predict that Udemy will post -0.52 EPS for the current year.

Insider Transactions at Udemy

In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of Udemy stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total value of $362,250.00. Following the transaction, the chief financial officer now directly owns 1,001,761 shares in the company, valued at $8,064,176.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Udemy news, Director Eren Bali sold 15,000 shares of the 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 completion of the sale, the director now directly owns 1,639,477 shares of the company’s stock, valued at approximately $14,919,240.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sarah Blanchard sold 45,000 shares of Udemy stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total value of $362,250.00. Following the completion of the transaction, the chief financial officer now owns 1,001,761 shares in the company, valued at $8,064,176.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,000 shares of company stock worth $514,430. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Udemy

Hedge funds have recently modified their holdings of the stock. Ariadne Wealth Management LP acquired a new stake in Udemy in the second quarter valued at about $67,000. Quest Partners LLC lifted its holdings in shares of Udemy by 6,957.5% in the 2nd quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock valued at $77,000 after buying an additional 8,836 shares during the period. XTX Topco Ltd acquired a new stake in shares of Udemy in the 2nd quarter valued at approximately $93,000. Natixis boosted its stake in shares of Udemy by 60.8% in the first quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after buying an additional 3,391 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Udemy by 18.8% during 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 during the period. 79.48% of the stock is owned by institutional investors and hedge funds.

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.