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

Udemy, Inc. (NASDAQ:UDMY) saw a significant drop in short interest in 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 volume of 879,600 shares, the short-interest ratio is currently 4.4 days. Currently, 4.9% of the shares of the stock are short sold.

Insider Buying and Selling

In related news, CTO Venu Venugopal sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $13.79, for a total value of $55,160.00. Following the transaction, the chief technology officer now owns 352,013 shares in the company, valued at $4,854,259.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was 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 in the company, valued at $18,205,108. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Venu Venugopal sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $13.79, for a total value of $55,160.00. Following the completion of the transaction, the chief technology officer now owns 352,013 shares in the company, valued at approximately $4,854,259.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,981 shares of company stock worth $570,044. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

Several hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Udemy by 5.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,903 shares of the company’s stock valued at $205,000 after acquiring an additional 732 shares in the last quarter. Swiss National Bank increased its stake in shares of Udemy by 2.0% in the 3rd quarter. Swiss National Bank now owns 145,200 shares of the company’s stock valued at $1,379,000 after acquiring an additional 2,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Udemy by 28.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock valued at $125,000 after acquiring an additional 2,880 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Udemy in the 3rd quarter valued at $29,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of 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 acquiring an additional 3,420 shares in the last quarter. Institutional investors own 79.48% of the company’s stock.

Udemy Stock Performance

Shares of NASDAQ UDMY opened at $10.18 on Monday. The company’s 50 day moving average price is $10.71 and its 200-day moving average price is $12.32. Udemy has a 52-week low of $8.17 and a 52-week high of $16.01. The company 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 quarterly earnings data on Wednesday, February 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $189.55 million for the quarter, compared to the consensus estimate of $185.71 million. Udemy had a negative return on equity of 27.31% and a negative net margin of 14.72%. Analysts forecast that Udemy will post -0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on UDMY. TheStreet cut Udemy from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Piper Sandler reiterated a “neutral” rating and issued a $13.00 target price on shares of Udemy in a research report on Thursday, February 15th. KeyCorp lifted their target price on Udemy from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, January 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 target price on shares of Udemy in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. lifted their target price on Udemy from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.