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

Udemy, Inc. (NASDAQ:UDMYGet Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 4,790,000 shares, an increase of 26.7% from the February 29th total of 3,780,000 shares. Currently, 6.1% of the shares of the company are sold short. Based on an average trading volume of 962,100 shares, the short-interest ratio is presently 5.0 days.

Udemy Trading Down 0.9 %

NASDAQ UDMY opened at $10.98 on Monday. The business’s 50 day moving average is $12.11 and its two-hundred day moving average is $12.21. Udemy has a 12-month low of $8.17 and a 12-month high of $16.01.

Udemy (NASDAQ:UDMYGet Free Report) last released its earnings results on Wednesday, February 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.04. Udemy had a negative return on equity of 27.31% and a negative net margin of 14.72%. The company had revenue of $189.55 million for the quarter, compared to analysts’ expectations of $185.71 million. Research analysts anticipate that Udemy will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $10.97, for a total transaction of $164,550.00. Following the sale, the director now directly owns 1,676,050 shares of the company’s stock, valued at $18,386,268.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Udemy news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $10.97, for a total value of $164,550.00. Following the sale, the director now directly owns 1,676,050 shares of the company’s stock, valued at $18,386,268.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Venu Venugopal sold 6,981 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $10.82, for a total value of $75,534.42. Following the completion of the transaction, the chief technology officer now owns 334,319 shares in the company, valued at approximately $3,617,331.58. The disclosure for this sale can be found here. Insiders have sold a total of 54,981 shares of company stock valued at $673,734 over the last ninety days. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Several hedge funds have recently bought and sold shares of the company. NVP Associates LLC purchased a new position in Udemy during the fourth quarter worth $65,721,000. Sea Cliff Partners Management LP purchased a new position in Udemy in the fourth quarter valued at about $25,661,000. Invenomic Capital Management LP raised its position in Udemy by 410.1% in the second quarter. Invenomic Capital Management LP now owns 2,037,042 shares of the company’s stock valued at $21,857,000 after purchasing an additional 1,637,668 shares during the period. Inflection Point Investments LLP purchased a new stake in shares of Udemy during the fourth quarter worth about $21,390,000. Finally, Vanguard Group Inc. increased its position in shares of Udemy by 19.3% during the third quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock worth $84,175,000 after acquiring an additional 1,433,980 shares during the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on UDMY. Piper Sandler reissued a “neutral” rating and set a $13.00 target price on shares of Udemy in a research note on Thursday, February 15th. Truist Financial boosted their target price on Udemy from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. TheStreet downgraded Udemy from a “c-” rating to a “d+” rating in a report on Wednesday, March 6th. Robert W. Baird lifted their price target on Udemy from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. boosted their target price on Udemy from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Udemy currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Check Out Our Latest Report on Udemy

About Udemy

(Get Free Report)

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.

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