Analysts Set Udemy, Inc. (NASDAQ:UDMY) Price Target at $9.00

Shares of Udemy, Inc. (NASDAQ:UDMY) have earned an average rating of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $9.00.

Several equities research analysts have recently weighed in on UDMY shares. Canaccord Genuity Group cut Udemy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $12.00 to $7.00 in a research report on Wednesday, December 17th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Udemy in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Udemy in a research report on Wednesday, January 21st. Zacks Research downgraded shares of Udemy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 28th. Finally, Wall Street Zen raised shares of Udemy from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 7th.

Insider Transactions at Udemy

In other news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $5.25, for a total value of $131,250.00. Following the sale, the chief financial officer directly owned 1,208,046 shares in the company, valued at approximately $6,342,241.50. This represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.20% of the stock is owned by company insiders.

Institutional Trading of Udemy

Large investors have recently added to or reduced their stakes in the company. Focus Partners Wealth grew its position in shares of Udemy by 1.9% during the 1st quarter. Focus Partners Wealth now owns 79,437 shares of the company’s stock valued at $616,000 after acquiring an additional 1,468 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Udemy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,071 shares of the company’s stock valued at $420,000 after acquiring an additional 2,399 shares during the period. The Manufacturers Life Insurance Company grew its position in Udemy by 5.4% during the second quarter. The Manufacturers Life Insurance Company now owns 50,299 shares of the company’s stock worth $354,000 after buying an additional 2,597 shares in the last quarter. Stoneridge Investment Partners LLC grew its stake in Udemy by 8.6% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 44,447 shares of the company’s stock worth $312,000 after buying an additional 3,535 shares in the last quarter. Finally, 111 Capital boosted its holdings in shares of Udemy by 27.6% in the 2nd quarter. 111 Capital now owns 17,098 shares of the company’s stock worth $120,000 after purchasing an additional 3,702 shares in the last quarter. 79.48% of the stock is owned by institutional investors.

Udemy Stock Down 0.8%

Shares of NASDAQ:UDMY opened at $4.81 on Monday. The firm has a fifty day moving average of $5.39 and a two-hundred day moving average of $6.20. Udemy has a 12-month low of $4.75 and a 12-month high of $10.61. The firm has a market capitalization of $704.09 million, a P/E ratio of -160.28 and a beta of 1.72.

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.