Udemy, Inc. (NASDAQ:UDMY) Short Interest Down 17.2% in October

Udemy, Inc. (NASDAQ:UDMY) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 6,150,000 shares, a decline of 17.2% from the October 15th total of 7,430,000 shares. Approximately 7.9% of the company’s shares are sold short. Based on an average daily trading volume, of 793,700 shares, the short-interest ratio is currently 7.7 days.

Insider Transactions at Udemy

In related news, CTO Eren Bali sold 35,518 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total transaction of $319,662.00. Following the transaction, the chief technology officer now owns 2,225,532 shares in the company, valued at $20,029,788. The trade was a 1.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sarah Blanchard sold 45,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total value of $362,250.00. Following the transaction, the chief financial officer now owns 1,001,761 shares in the company, valued at approximately $8,064,176.05. This represents a 4.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,518 shares of company stock worth $766,912. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UDMY. Sea Cliff Partners Management LP lifted its position in Udemy by 27.9% in the 2nd quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock valued at $32,154,000 after acquiring an additional 811,702 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new position in Udemy in the 1st quarter valued at approximately $8,109,000. Invenomic Capital Management LP lifted its position in Udemy by 22.9% in the 1st quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company’s stock valued at $30,167,000 after acquiring an additional 512,618 shares in the last quarter. Industry Ventures L.L.C. bought a new position in Udemy in the 2nd quarter valued at approximately $3,452,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in Udemy by 645.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 437,531 shares of the company’s stock valued at $4,804,000 after buying an additional 378,819 shares during the last quarter. 79.48% of the stock is owned by institutional investors.

Udemy Stock Down 2.3 %

Shares of UDMY opened at $7.96 on Friday. The business’s 50 day moving average price is $8.01 and its 200-day moving average price is $8.38. Udemy has a 52 week low of $6.67 and a 52 week high of $16.01. The stock has a market cap of $1.16 billion, a P/E ratio of -12.63 and a beta of 1.95.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $195.42 million for the quarter, compared to analysts’ expectations of $192.69 million. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS. On average, equities analysts anticipate that Udemy will post -0.47 EPS for the current year.

Analysts Set New Price Targets

UDMY has been the topic of a number of research analyst reports. Truist Financial reduced their price target on Udemy from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Morgan Stanley downgraded Udemy from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $10.00 to $7.50 in a report on Friday, September 27th. Needham & Company LLC cut their price objective on Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Canaccord Genuity Group started coverage on Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Robert W. Baird cut their price objective on Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned 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 $11.00.

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.