Short Interest in Udemy, Inc. (NASDAQ:UDMY) Increases By 31.8%

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 6,380,000 shares, a growth of 31.8% from the May 31st total of 4,840,000 shares. Based on an average daily trading volume, of 833,400 shares, the short-interest ratio is currently 7.7 days. Currently, 8.6% of the company's stock are sold short.

Insiders Place Their Bets

In other Udemy news, Director Eren Bali sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $10.96, for a total transaction of $164,400.00. Following the sale, the director now directly owns 1,661,050 shares in the company, valued at approximately $18,205,108. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Sarah Blanchard sold 45,000 shares of Udemy stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $9.53, for a total value of $428,850.00. Following the sale, the chief financial officer now directly owns 1,096,663 shares in the company, valued at $10,451,198.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $10.96, for a total transaction of $164,400.00. Following the completion of the sale, the director now owns 1,661,050 shares in the company, valued at $18,205,108. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,486 shares of company stock worth $675,241. Company insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Udemy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pathway Capital Management LP acquired a new position in Udemy in the fourth quarter valued at about $3,983,000. Partners Group Holding AG acquired a new position in Udemy in the fourth quarter valued at about $1,928,000. Invenomic Capital Management LP raised its stake in Udemy by 5.5% in the fourth quarter. Invenomic Capital Management LP now owns 2,234,835 shares of the company's stock valued at $32,919,000 after purchasing an additional 116,432 shares in the last quarter. Greenvale Capital LLP raised its stake in Udemy by 2.3% in the fourth quarter. Greenvale Capital LLP now owns 6,600,000 shares of the company's stock valued at $97,218,000 after purchasing an additional 150,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Udemy by 19.3% in the third quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company's stock valued at $84,175,000 after purchasing an additional 1,433,980 shares in the last quarter. Institutional investors and hedge funds own 79.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. TheStreet cut shares of Udemy from a "c-" rating to a "d+" rating in a research note on Wednesday, March 6th. Robert W. Baird decreased their target price on shares of Udemy from $15.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, May 3rd. Morgan Stanley decreased their target price on shares of Udemy from $15.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday, April 19th. Cantor Fitzgerald reissued an "overweight" rating and issued a $20.00 target price on shares of Udemy in a research note on Friday, May 3rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $15.00 target price on shares of Udemy in a research note on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $13.90.

Udemy Stock Up 2.1 %

Shares of UDMY traded up $0.18 during midday trading on Friday, reaching $8.63. 2,010,856 shares of the stock were exchanged, compared to its average volume of 930,611. Udemy has a twelve month low of $7.91 and a twelve month high of $16.01. The company has a market cap of $1.32 billion, a P/E ratio of -16.28 and a beta of 2.02. The stock's 50 day simple moving average is $9.21 and its 200 day simple moving average is $11.32.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its earnings results on Thursday, May 2nd. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.02. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. The company had revenue of $196.85 million during the quarter, compared to the consensus estimate of $194.83 million. As a group, analysts predict that Udemy will post -0.45 earnings per share for the current 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.

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