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

Udemy, Inc. (NASDAQ:UDMY) saw a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 4,170,000 shares, a decline of 17.3% from the February 28th total of 5,040,000 shares. Based on an average daily volume of 1,120,000 shares, the short-interest ratio is presently 3.7 days. Currently, 5.4% of the company’s shares are sold short.

Udemy Price Performance

NASDAQ:UDMY opened at $7.76 on Tuesday. Udemy has a 1-year low of $6.67 and a 1-year high of $11.60. The firm’s fifty day moving average price is $8.55 and its 200 day moving average price is $8.26. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -13.61 and a beta of 1.76.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Heather Hiles sold 14,840 shares of the 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 approximately $418,563.27. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total value of $25,088,000.00. Following the completion of the sale, the insider now directly owns 13,920,840 shares in the company, valued at $109,139,385.60. This represents a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,304,322 shares of company stock valued at $26,033,418 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of Udemy during the fourth quarter worth $31,000. Point72 DIFC Ltd purchased a new position in Udemy during the third quarter worth about $30,000. Quarry LP acquired a new stake in Udemy in the 4th quarter worth about $34,000. Vega Investment Solutions purchased a new position in shares of Udemy during the 4th quarter worth about $46,000. Finally, State of Wyoming purchased a new position in shares of Udemy during the 4th quarter worth about $59,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

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.