Udemy (NASDAQ:UDMY) Reaches New 1-Year Low – Time to Sell?

Shares of Udemy, Inc. (NASDAQ:UDMY) reached a new 52-week low during trading on Monday . The stock traded as low as $4.68 and last traded at $4.8480, with a volume of 183 shares. The stock had previously closed at $4.81.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on UDMY shares. Weiss Ratings restated a “sell (e+)” rating on shares of Udemy in a report on Wednesday, January 21st. Wall Street Zen upgraded Udemy from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 7th. KeyCorp downgraded Udemy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, January 13th. Zacks Research downgraded Udemy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. Finally, Canaccord Genuity Group cut Udemy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $12.00 to $7.00 in a research report on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.00.

Udemy Price Performance

The firm has a market capitalization of $728.24 million, a P/E ratio of -165.78 and a beta of 1.72. The business has a 50 day moving average price of $5.39 and a 200 day moving average price of $6.20.

Insider Activity 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 transaction of $131,250.00. Following the completion of the transaction, the chief financial officer directly owned 1,208,046 shares in the company, valued at $6,342,241.50. The trade was a 2.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Udemy

Large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. boosted its holdings in Udemy by 15.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 28,671 shares of the company’s stock valued at $168,000 after purchasing an additional 3,828 shares during the period. Mirador Capital Partners LP lifted its stake in shares of Udemy by 99.6% in the fourth quarter. Mirador Capital Partners LP now owns 35,925 shares of the company’s stock valued at $210,000 after buying an additional 17,925 shares during the period. SG Americas Securities LLC grew its position in Udemy by 52.5% during the fourth quarter. SG Americas Securities LLC now owns 64,460 shares of the company’s stock worth $377,000 after buying an additional 22,194 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Udemy by 57.4% during the third quarter. JPMorgan Chase & Co. now owns 1,108,057 shares of the company’s stock valued at $7,767,000 after acquiring an additional 404,100 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new position in Udemy in the 3rd quarter valued at approximately $73,000. 79.48% of the stock is currently owned by institutional investors and hedge funds.

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.