Udemy (NASDAQ:UDMY) Price Target Lowered to $10.00 at Truist Financial

Udemy (NASDAQ:UDMY) had its target price reduced by Truist Financial from $15.00 to $10.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Needham & Company LLC reissued a buy rating and issued a $15.00 target price on shares of Udemy in a report on Thursday, August 1st. Cantor Fitzgerald decreased their price objective on shares of Udemy from $20.00 to $18.00 and set an overweight rating for the company in a research note on Thursday, August 1st. Morgan Stanley reduced their price target on shares of Udemy from $15.00 to $13.00 and set an equal weight rating for the company in a research report on Friday, April 19th. Jefferies Financial Group lowered their price objective 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, Bank of America downgraded shares of Udemy from a buy rating to a neutral rating and set a $8.50 target price for the company. in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $12.45.

Udemy Stock Performance

NASDAQ:UDMY opened at $7.11 on Friday. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -13.30 and a beta of 2.01. Udemy has a one year low of $6.67 and a one year high of $16.01. The business’s 50-day simple moving average is $8.50 and its 200 day simple moving average is $10.28.

Insider Buying and Selling

In other Udemy news, CTO Venu Venugopal sold 7,086 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $9.89, for a total transaction of $70,080.54. Following the transaction, the chief technology officer now directly owns 429,927 shares in the company, valued at $4,251,978.03. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CTO Venu Venugopal sold 7,086 shares of Udemy stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $9.89, for a total value of $70,080.54. Following the transaction, the chief technology officer now owns 429,927 shares of the company’s stock, valued at $4,251,978.03. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eren Bali sold 15,000 shares of the business’s stock in a transaction 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 owns 1,639,477 shares of the company’s stock, valued at $14,919,240.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,486 shares of company stock worth $748,021. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Udemy

Several hedge funds and other institutional investors have recently made changes to their positions in UDMY. Pathway Capital Management LP bought a new stake in Udemy during the 4th quarter valued at approximately $3,983,000. Vanguard Group Inc. grew its stake in shares of Udemy by 1.2% in the first quarter. Vanguard Group Inc. now owns 9,472,216 shares of the company’s stock worth $104,005,000 after acquiring an additional 116,346 shares during the last quarter. Partners Group Holding AG bought a new position in Udemy during the fourth quarter worth $1,928,000. Invenomic Capital Management LP raised its stake in Udemy by 5.5% during the 4th quarter. Invenomic Capital Management LP now owns 2,234,835 shares of the company’s stock valued at $32,919,000 after purchasing an additional 116,432 shares during the last quarter. Finally, Greenvale Capital LLP raised its stake in Udemy by 2.3% during the 4th quarter. Greenvale Capital LLP now owns 6,600,000 shares of the company’s stock valued at $97,218,000 after purchasing an additional 150,000 shares during the last quarter. 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.