Udemy, Inc. (NASDAQ:UDMY) Short Interest Up 31.8% in June

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. TheStreet lowered Udemy from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Robert W. Baird decreased their price objective on Udemy from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price objective on shares of Udemy in a research report on Friday, May 3rd. Jefferies Financial Group decreased their price objective on Udemy from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Finally, KeyCorp reduced their price target on Udemy from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Udemy has a consensus rating of “Moderate Buy” and a consensus target price of $13.90.

Insider Buying and Selling

In related news, CTO Venu Venugopal sold 7,086 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $9.89, for a total transaction of $70,080.54. Following the sale, the chief technology officer now directly owns 429,927 shares in the company, valued at approximately $4,251,978.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Sarah Blanchard sold 45,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $9.53, for a total transaction of $428,850.00. Following the sale, the chief financial officer now directly owns 1,096,663 shares in the company, valued at approximately $10,451,198.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Venu Venugopal sold 7,086 shares of the stock in a transaction on 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 in the company, valued at $4,251,978.03. The disclosure for this sale can be found here. Insiders have sold a total of 53,486 shares of company stock worth $510,841 in the last three months. Insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

Hedge funds have recently added to or reduced their stakes in the business. Pathway Capital Management LP acquired a new stake in Udemy during the 4th quarter worth $3,983,000. Partners Group Holding AG acquired a new stake in shares of Udemy in the 4th quarter valued at about $1,928,000. Invenomic Capital Management LP raised its stake in shares of Udemy by 5.5% in the 4th 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 during the period. Greenvale Capital LLP raised its stake in shares of Udemy by 2.3% in the 4th 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 during the period. Finally, Vanguard Group Inc. raised its stake in shares of Udemy by 19.3% in the 3rd 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 during the period. Institutional investors and hedge funds own 79.48% of the company’s stock.

Udemy Stock Up 2.1 %

Shares of Udemy stock opened at $8.63 on Monday. Udemy has a 12 month low of $7.91 and a 12 month high of $16.01. The stock’s fifty day simple moving average is $9.21 and its 200 day simple moving average is $11.29.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $196.85 million for the quarter, compared to the consensus estimate 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, research analysts anticipate that Udemy will post -0.45 earnings per share for the current year.

About Udemy

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.