Short Interest in Udemy, Inc. (NASDAQ:UDMY) Declines By 16.1%

Udemy, Inc. (NASDAQ:UDMY) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 5,040,000 shares, a decline of 16.1% from the February 13th total of 6,010,000 shares. Based on an average daily volume of 1,010,000 shares, the short-interest ratio is presently 5.0 days. Approximately 6.4% of the shares of the stock are sold short.

Insider Buying and Selling

In other Udemy news, CTO Eren Bali sold 69,482 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $9.00, for a total value of $625,338.00. Following the completion of the transaction, the chief technology officer now directly owns 2,156,050 shares in the company, valued at approximately $19,404,450. The trade was a 3.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $9.43, for a total value of $94,300.00. Following the completion of the transaction, the chief executive officer now owns 1,141,896 shares of the company’s stock, valued at $10,768,079.28. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,304,322 shares of company stock worth $26,033,418 in the last ninety days. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in Udemy in the 4th quarter valued at about $31,000. Point72 DIFC Ltd purchased a new position in Udemy in the 3rd quarter valued at about $30,000. Quarry LP acquired a new stake in shares of Udemy in the 4th quarter valued at about $34,000. Vega Investment Solutions acquired a new stake in shares of Udemy in the 4th quarter valued at about $46,000. Finally, State of Wyoming acquired a new stake in shares of Udemy in the 4th quarter valued at about $59,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

Udemy Trading Up 1.7 %

Shares of Udemy stock opened at $8.56 on Thursday. The company has a fifty day moving average price of $8.56 and a 200 day moving average price of $8.24. Udemy has a twelve month low of $6.67 and a twelve month high of $11.60. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -15.02 and a beta of 1.76.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $199.94 million during the quarter, compared to analysts’ expectations of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. Analysts forecast that Udemy will post -0.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on UDMY. Morgan Stanley boosted their price target on Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. William Blair cut shares of Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. Canaccord Genuity Group boosted their price objective on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Udemy in a research note on Wednesday, March 12th. Finally, Scotiabank assumed coverage on shares of Udemy in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Udemy presently has an average rating of “Moderate Buy” and a consensus price target of $10.95.

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.