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

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 3,130,000 shares, a decline of 24.9% from the March 15th total of 4,170,000 shares. Currently, 4.0% of the shares of the stock are sold short. Based on an average trading volume of 1,280,000 shares, the short-interest ratio is presently 2.4 days.

Insider Buying and Selling

In other news, CTO Eren Bali sold 10,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.02, for a total transaction of $80,200.00. Following the completion of the sale, the chief technology officer now directly owns 2,146,050 shares of the company's stock, valued at $17,211,321. This trade represents a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Heather Hiles sold 14,840 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total value of $145,580.40. Following the sale, the director now directly owns 42,667 shares in the company, valued at $418,563.27. This trade represents a 25.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 105,168 shares of company stock valued at $952,186 over the last three months. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its stake in shares of Udemy by 1,814.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,678,641 shares of the company's stock valued at $20,786,000 after purchasing an additional 2,538,728 shares in the last quarter. GAMMA Investing LLC grew its stake in Udemy by 558.3% during the first quarter. GAMMA Investing LLC now owns 6,945 shares of the company's stock worth $54,000 after buying an additional 5,890 shares during the last quarter. Vega Investment Solutions acquired a new stake in shares of Udemy during the fourth quarter worth approximately $46,000. PharVision Advisers LLC bought a new position in shares of Udemy in the fourth quarter valued at approximately $144,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Udemy by 17.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,864 shares of the company's stock worth $1,497,000 after acquiring an additional 27,673 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on UDMY. JPMorgan Chase & Co. cut their price target on shares of Udemy from $11.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday. Canaccord Genuity Group raised their target price on Udemy from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. William Blair lowered Udemy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 12th. Needham & Company LLC restated a "buy" rating and set a $11.00 price objective on shares of Udemy in a research report on Wednesday, March 12th. Finally, Truist Financial reiterated a "hold" rating and issued a $7.00 target price (down previously from $10.00) on shares of Udemy in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $10.29.

Udemy Price Performance

Shares of NASDAQ UDMY traded up $0.01 during mid-day trading on Thursday, hitting $6.65. The company had a trading volume of 1,462,918 shares, compared to its average volume of 974,747. Udemy has a 12 month low of $5.68 and a 12 month high of $11.60. The firm has a market cap of $986.68 million, a P/E ratio of -11.54 and a beta of 1.81. The business's 50-day simple moving average is $8.06 and its 200-day simple moving average is $8.08.

Udemy (NASDAQ:UDMY - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.10). Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The firm had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. As a group, sell-side analysts predict that Udemy will post -0.09 EPS 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.