Udemy, Inc. (NASDAQ:UDMY) Sees Significant Decrease in Short Interest

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 stock are sold short. Based on an average trading volume of 879,600 shares, the days-to-cover ratio is currently 4.4 days.

Analysts Set New Price Targets

UDMY has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of Udemy in a research report on Thursday, April 4th. Jefferies Financial Group reduced their price target on Udemy from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Monday. Robert W. Baird upped their price objective on Udemy from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. TheStreet lowered shares of Udemy from a “c-” rating to a “d+” rating in a report on Wednesday, March 6th. Finally, Piper Sandler reissued a “neutral” rating and set a $13.00 price target on shares of Udemy in a report on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Udemy currently has an average rating of “Moderate Buy” and a consensus target price of $14.40.

Udemy Price Performance

UDMY stock opened at $10.02 on Wednesday. Udemy has a 1 year low of $8.17 and a 1 year high of $16.01. The firm has a market capitalization of $1.54 billion, a PE ratio of -13.92 and a beta of 2.14. The business has a 50 day simple moving average of $10.68 and a 200-day simple moving average of $12.33.

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. Udemy had a negative net margin of 14.72% and a negative return on equity of 27.31%. The firm had revenue of $189.55 million during the quarter, compared to analyst estimates of $185.71 million. On average, equities research analysts expect that Udemy will post -0.47 EPS for the current year.

Insiders Place Their Bets

In other Udemy news, Director Eren Bali sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $10.97, for a total transaction of $164,550.00. Following the sale, the director now owns 1,676,050 shares of the company’s stock, valued at approximately $18,386,268.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $11.04, for a total value of $110,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,163,328 shares in the company, valued at $12,843,141.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $10.97, for a total value of $164,550.00. Following the completion of the sale, the director now owns 1,676,050 shares in the company, valued at approximately $18,386,268.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,981 shares of company stock valued at $570,044. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Udemy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SpiderRock Advisors LLC acquired a new position in shares of Udemy in the 1st quarter worth approximately $750,000. Principal Financial Group Inc. lifted its stake in Udemy by 18.8% during the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after purchasing an additional 1,904 shares in the last quarter. Seven Post Investment Office LP purchased a new position in shares of Udemy during the first quarter worth $208,000. Assenagon Asset Management S.A. acquired a new stake in shares of Udemy in the first quarter valued at $636,000. Finally, Summit Trail Advisors LLC raised its holdings in shares of Udemy by 90.5% in the 1st quarter. Summit Trail Advisors LLC now owns 35,363 shares of the company’s stock valued at $388,000 after buying an additional 16,798 shares during the period. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

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.