Udemy, Inc. (NASDAQ:UDMY) Short Interest Update

Udemy, Inc. (NASDAQ:UDMY) saw a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 3,880,000 shares, a drop of 14.0% from the March 31st total of 4,510,000 shares. Based on an average daily trading volume, of 879,600 shares, the days-to-cover ratio is currently 4.4 days. Currently, 4.9% of the shares of the company are sold short.

Insider Transactions at Udemy

In other Udemy news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $10.96, for a total value of $164,400.00. Following the transaction, the director now owns 1,661,050 shares of the company’s stock, valued at $18,205,108. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Venu Venugopal sold 6,981 shares of Udemy stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $10.82, for a total value of $75,534.42. Following the sale, the chief technology officer now directly owns 334,319 shares in the company, valued at approximately $3,617,331.58. The sale 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 firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $10.96, for a total transaction of $164,400.00. Following the completion of the sale, the director now owns 1,661,050 shares in the company, valued at approximately $18,205,108. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,981 shares of company stock worth $570,044. 3.20% of the stock is currently owned by insiders.

Institutional Trading of Udemy

Several hedge funds and other institutional investors have recently modified their holdings of UDMY. Sea Cliff Partners Management LP acquired a new position in Udemy during the fourth quarter worth $25,661,000. Inflection Point Investments LLP acquired a new position in shares of Udemy during the 4th quarter valued at about $21,390,000. Vanguard Group Inc. increased its holdings in shares of Udemy by 19.3% during the 3rd quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock valued at $84,175,000 after acquiring an additional 1,433,980 shares during the last quarter. Pathway Capital Management LP acquired a new stake in Udemy in the 4th quarter worth approximately $3,983,000. Finally, Federated Hermes Inc. acquired a new stake in Udemy in the 4th quarter worth approximately $3,303,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Udemy Trading Down 2.7 %

Shares of UDMY stock opened at $10.02 on Wednesday. The stock’s fifty day simple moving average is $10.68 and its 200-day simple moving average is $12.33. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -13.92 and a beta of 2.14. Udemy has a 1-year low of $8.17 and a 1-year high of $16.01.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Udemy had a negative net margin of 14.72% and a negative return on equity of 27.31%. The business had revenue of $189.55 million during the quarter, compared to analyst estimates of $185.71 million. On average, sell-side analysts predict that Udemy will post -0.47 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on UDMY. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of Udemy in a report on Thursday, April 4th. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of Udemy in a research report on Thursday, February 15th. Robert W. Baird increased their price objective on shares of Udemy from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Morgan Stanley dropped their target price on Udemy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Finally, KeyCorp upped their target price on Udemy from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.40.

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.