Short Interest in Udemy, Inc. (NASDAQ:UDMY) Declines By 14.0%

Udemy, Inc. (NASDAQ:UDMY) was the target of a significant drop in short interest in 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. Approximately 4.9% of the company’s shares are short sold. Based on an average trading volume of 879,600 shares, the short-interest ratio is presently 4.4 days.

Insider Transactions at Udemy

In other news, CTO Venu Venugopal sold 4,000 shares of Udemy stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.79, for a total value of $55,160.00. Following the transaction, the chief technology officer now directly owns 352,013 shares of the company’s stock, valued at $4,854,259.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total transaction of $110,400.00. Following the transaction, the chief executive officer now directly owns 1,163,328 shares of the company’s stock, valued at $12,843,141.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Venu Venugopal sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.79, for a total transaction of $55,160.00. Following the transaction, the chief technology officer now directly owns 352,013 shares in the company, valued at $4,854,259.27. The disclosure for this sale can be found here. Insiders have sold a total of 50,981 shares of company stock valued at $570,044 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Udemy by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 9,355,870 shares of the company’s stock valued at $137,812,000 after buying an additional 495,380 shares during the period. Greenvale Capital LLP increased its holdings in Udemy by 2.3% in the 4th quarter. Greenvale Capital LLP now owns 6,600,000 shares of the company’s stock valued at $97,218,000 after buying an additional 150,000 shares during the period. Invenomic Capital Management LP increased its holdings in Udemy by 5.5% in the 4th quarter. Invenomic Capital Management LP now owns 2,234,835 shares of the company’s stock valued at $32,919,000 after buying an additional 116,432 shares during the period. Sea Cliff Partners Management LP bought a new stake in Udemy in the 4th quarter valued at $25,661,000. Finally, Inflection Point Investments LLP bought a new stake in Udemy in the 4th quarter valued at $21,390,000. Institutional investors own 79.48% of the company’s stock.

Udemy Trading Up 2.7 %

Shares of UDMY stock opened at $10.18 on Monday. Udemy has a 1 year low of $8.17 and a 1 year high of $16.01. The firm’s fifty day simple moving average is $10.71 and its 200 day simple moving average is $12.32. The firm has a market capitalization of $1.56 billion, a P/E ratio of -14.14 and a beta of 2.14.

Udemy (NASDAQ:UDMY) last announced its 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 for the quarter, compared to analyst estimates of $185.71 million. Equities research analysts anticipate that Udemy will post -0.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. TheStreet cut shares of Udemy from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Piper Sandler reiterated a “neutral” rating and issued a $13.00 target price on shares of Udemy in a research note on Thursday, February 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 target price on shares of Udemy in a research note on Thursday, February 15th. KeyCorp lifted their target price on shares of Udemy from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, January 12th. Finally, Robert W. Baird boosted their price objective on shares of Udemy from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Udemy currently has an average rating of “Moderate Buy” and an average price target of $14.78.

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.