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

Udemy, Inc. (NASDAQ:UDMY) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 6,380,000 shares, an increase of 31.8% from the May 31st total of 4,840,000 shares. Based on an average daily volume of 833,400 shares, the short-interest ratio is currently 7.7 days. Currently, 8.6% of the shares of the company are short sold.

Insider Buying and Selling at Udemy

In other 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Eren Bali sold 15,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $10.96, for a total transaction of $164,400.00. Following the transaction, the director now owns 1,661,050 shares in the company, valued at $18,205,108. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Venu Venugopal sold 7,086 shares of the business’s stock in a transaction 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 completion of the sale, the chief technology officer now owns 429,927 shares of the company’s stock, valued at $4,251,978.03. The disclosure for this sale can be found here. Insiders have sold a total of 68,486 shares of company stock worth $675,241 over the last ninety days. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Several large investors have recently bought and sold shares of UDMY. Daiwa Securities Group Inc. raised its holdings in Udemy by 261.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after buying an additional 3,420 shares during the last quarter. RIA Advisory Group LLC acquired a new position in shares of Udemy during the fourth quarter worth $76,000. Natixis grew its stake in shares of Udemy by 60.8% in the first quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after purchasing an additional 3,391 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after purchasing an additional 1,904 shares during the period. Finally, AXQ Capital LP bought a new position in Udemy during the 3rd quarter worth $160,000. 79.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley decreased their target price on shares of Udemy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. Jefferies Financial Group dropped their price objective on Udemy from $14.00 to $11.00 and set a “hold” rating for the company in a report on Monday, April 29th. Robert W. Baird reduced their target price on Udemy from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Udemy in a research note on Friday, May 3rd. Finally, TheStreet downgraded shares of Udemy from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.90.

Udemy Price Performance

UDMY stock traded up $0.18 during trading on Friday, reaching $8.63. 2,010,856 shares of the company were exchanged, compared to its average volume of 930,611. The company has a 50-day moving average of $9.21 and a two-hundred day moving average of $11.32. Udemy has a twelve month low of $7.91 and a twelve month high of $16.01.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. Udemy had a negative net margin of 10.82% and a negative return on equity of 23.10%. The company had revenue of $196.85 million during the quarter, compared to the consensus estimate of $194.83 million. Research analysts anticipate that Udemy will post -0.45 EPS for the current fiscal year.

Udemy Company Profile

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.