Short Interest in Udemy, Inc. (NASDAQ:UDMY) Decreases By 17.2%

Udemy, Inc. (NASDAQ:UDMY) was the recipient of a significant decline in short interest in 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 stock are sold short. Based on an average daily volume of 793,700 shares, the short-interest ratio is presently 7.7 days.

Insider Buying and Selling at Udemy

In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was 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 of the company’s stock, valued at approximately $8,064,176.05. The trade was a 4.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the completion of the transaction, the chief executive officer now owns 1,203,727 shares in the company, valued at approximately $10,231,679.50. The trade was a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,518 shares of company stock valued at $766,912. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Udemy

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Udemy by 1.2% during the first quarter. Vanguard Group Inc. now owns 9,472,216 shares of the company’s stock worth $104,005,000 after purchasing an additional 116,346 shares in the last quarter. Sea Cliff Partners Management LP raised its holdings in Udemy by 27.9% during the second quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after purchasing an additional 811,702 shares in the last quarter. Invenomic Capital Management LP boosted its stake in Udemy by 22.9% in the first 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. Geode Capital Management LLC increased its position in Udemy by 0.3% during the third quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock worth $16,497,000 after buying an additional 5,972 shares during the period. Finally, State Street Corp boosted its stake in Udemy by 0.8% during the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company’s stock worth $14,392,000 after purchasing an additional 15,339 shares during the period. 79.48% of the stock is owned by institutional investors and hedge funds.

Udemy Price Performance

NASDAQ UDMY opened at $7.96 on Friday. The stock’s 50 day simple moving average is $8.01 and its 200-day simple moving average is $8.37. Udemy has a 1-year low of $6.67 and a 1-year high of $16.01. The company has a market cap of $1.16 billion, a PE ratio of -12.63 and a beta of 1.95.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on UDMY shares. Canaccord Genuity Group assumed coverage on shares of Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 price objective on the stock. Bank of America lowered Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price objective for the company. in a research report on Thursday, August 1st. Canaccord Genuity Group assumed coverage on Udemy in a research note on Thursday, August 8th. They set a “buy” rating and a $12.00 target price on the stock. Cantor Fitzgerald decreased their target price on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Robert W. Baird decreased their price target on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Udemy currently has an average rating of “Moderate Buy” and a consensus price target 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.