Udemy, Inc. (NASDAQ:UDMY) Short Interest Up 26.2% in July

Udemy, Inc. (NASDAQ:UDMY) saw a large growth in short interest in July. As of July 15th, there was short interest totalling 7,940,000 shares, a growth of 26.2% from the June 30th total of 6,290,000 shares. Based on an average daily volume of 885,200 shares, the short-interest ratio is currently 9.0 days. Approximately 10.8% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. KeyCorp lowered their price target on Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Jefferies Financial Group lowered their price target on Udemy from $14.00 to $11.00 and set a “hold” rating for the company in a report on Monday, April 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price target on shares of Udemy in a report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of Udemy in a report on Friday, May 3rd. Finally, Robert W. Baird lowered their price target on Udemy from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Udemy presently has an average rating of “Moderate Buy” and an average target price of $13.80.

Insiders Place Their Bets

In related news, CTO Venu Venugopal sold 7,086 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $9.89, for a total value of $70,080.54. Following the completion of the transaction, the chief technology officer now owns 429,927 shares of the company’s stock, valued at approximately $4,251,978.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of Udemy stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $9.53, for a total value of $428,850.00. Following the completion of the sale, the chief financial officer now owns 1,096,663 shares in the company, valued at approximately $10,451,198.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Venu Venugopal sold 7,086 shares of Udemy stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $9.89, for a total value of $70,080.54. Following the completion of the sale, the chief technology officer now owns 429,927 shares of the company’s stock, valued at approximately $4,251,978.03. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,486 shares of company stock worth $604,441. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

A number of institutional investors and hedge funds have recently bought and sold shares of UDMY. Vanguard Group Inc. boosted its holdings in Udemy by 19.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock worth $84,175,000 after acquiring an additional 1,433,980 shares during the period. SG Americas Securities LLC raised its position in shares of Udemy by 317.5% in the 4th quarter. SG Americas Securities LLC now owns 41,883 shares of the company’s stock valued at $617,000 after purchasing an additional 31,850 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Udemy in the 4th quarter valued at approximately $3,057,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Udemy by 5.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,903 shares of the company’s stock valued at $205,000 after purchasing an additional 732 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Udemy by 261.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after purchasing an additional 3,420 shares in the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Udemy Stock Performance

Shares of NASDAQ:UDMY traded down $0.07 during trading on Monday, reaching $8.92. 893,837 shares of the stock were exchanged, compared to its average volume of 902,857. Udemy has a 12-month low of $7.91 and a 12-month high of $16.01. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -16.96 and a beta of 2.00. The firm’s 50-day moving average price is $8.61 and its 200 day moving average price is $10.46.

Udemy (NASDAQ:UDMY) last released its quarterly 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. The firm had revenue of $196.85 million during the quarter, compared to analysts’ expectations of $194.83 million. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. As a group, equities research analysts forecast that Udemy will post -0.45 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.