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

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on UDMY shares. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Udemy in a research report on Wednesday, March 12th. Morgan Stanley lifted their price target on Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Scotiabank began coverage on Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target on the stock. William Blair downgraded Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. Finally, Canaccord Genuity Group raised their price objective on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.95.

Insider Buying and Selling

In other news, major shareholder Ltd Naspers sold 3,200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the sale, the insider now owns 13,920,840 shares of the company’s stock, valued at $109,139,385.60. This trade represents a 18.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $9.43, for a total transaction of $94,300.00. Following the sale, the chief executive officer now directly owns 1,141,896 shares in the company, valued at $10,768,079.28. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,304,322 shares of company stock worth $26,033,418. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Udemy

Institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new stake in Udemy in the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Udemy in the fourth quarter valued at approximately $31,000. Quarry LP acquired a new position in Udemy during the fourth quarter worth $34,000. Vega Investment Solutions acquired a new position in Udemy during the fourth quarter worth $46,000. Finally, Nisa Investment Advisors LLC grew its holdings in Udemy by 496.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after acquiring an additional 6,010 shares during the period. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Udemy Stock Performance

Shares of Udemy stock opened at $8.39 on Tuesday. Udemy has a one year low of $6.67 and a one year high of $11.60. The company has a market cap of $1.24 billion, a PE ratio of -14.72 and a beta of 1.76. The business has a 50-day simple moving average of $8.56 and a 200-day simple moving average of $8.24.

Udemy (NASDAQ:UDMY) last posted its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). The business had revenue of $199.94 million for the quarter, compared to analysts’ expectations of $194.70 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. On average, sell-side analysts predict that Udemy will post -0.09 earnings per share for the current fiscal year.

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.