Udemy, Inc. (NASDAQ:UDMY – Get Rating) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 2,660,000 shares, an increase of 29.8% from the December 31st total of 2,050,000 shares. Based on an average trading volume of 533,900 shares, the short-interest ratio is currently 5.0 days. Currently, 4.7% of the shares of the stock are sold short.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on UDMY. KeyCorp increased their price objective on shares of Udemy from $16.00 to $19.00 and gave the stock an "overweight" rating in a research report on Friday, November 18th. Piper Sandler raised their price target on shares of Udemy from $13.00 to $14.50 and gave the company a "neutral" rating in a research report on Friday, November 4th. JPMorgan Chase & Co. decreased their price target on shares of Udemy from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, November 3rd. Finally, Robert W. Baird decreased their price target on shares of Udemy from $20.00 to $16.00 in a research report on Monday, December 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $18.17.
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Insider Buying and Selling at Udemy
In other news, insider Gregory Scott Brown sold 317,740 shares of the firm's stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $10.67, for a total transaction of $3,390,285.80. Following the completion of the sale, the insider now owns 965,262 shares in the company, valued at approximately $10,299,345.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Venu Venugopal sold 5,177 shares of the stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $12.13, for a total transaction of $62,797.01. Following the completion of the transaction, the chief technology officer now owns 270,530 shares of the company's stock, valued at approximately $3,281,528.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gregory Scott Brown sold 317,740 shares of the stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $10.67, for a total transaction of $3,390,285.80. Following the transaction, the insider now directly owns 965,262 shares of the company's stock, valued at approximately $10,299,345.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 637,279 shares of company stock worth $7,232,557. Insiders own 39.20% of the company's stock.
Hedge Funds Weigh In On Udemy
Large investors have recently bought and sold shares of the company. IFP Advisors Inc purchased a new position in Udemy during the 3rd quarter worth $32,000. Daiwa Securities Group Inc. grew its stake in Udemy by 70.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the company's stock valued at $35,000 after acquiring an additional 1,200 shares during the last quarter. Point72 Hong Kong Ltd boosted its stake in shares of Udemy by 141.9% during the 3rd quarter. Point72 Hong Kong Ltd now owns 3,184 shares of the company's stock worth $38,000 after purchasing an additional 1,868 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Udemy during the 1st quarter worth about $46,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Udemy during the 2nd quarter worth about $58,000. Hedge funds and other institutional investors own 73.26% of the company's stock.
Udemy Trading Up 5.3 %
Shares of Udemy stock traded up $0.62 during trading hours on Friday, hitting $12.35. The company had a trading volume of 291,051 shares, compared to its average volume of 397,632. The company's 50-day moving average is $12.01 and its two-hundred day moving average is $13.22. Udemy has a twelve month low of $9.47 and a twelve month high of $17.26.
Udemy (NASDAQ:UDMY – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.07). The business had revenue of $158.43 million for the quarter, compared to analyst estimates of $155.18 million. Udemy had a negative return on equity of 36.30% and a negative net margin of 23.37%. On average, equities analysts forecast that Udemy will post -1.01 EPS for the current fiscal year.
Udemy Company Profile
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Udemy, Inc operates a marketplace platform for teaching and learning skills in the United States and internationally. The company offers technical and business skills, and personal development courses for individual learners and enterprise customers. Its platform provides 49 million learners with access to approximately 180,000 courses through direct-to-consumer or Udemy Business offerings in approximately 75 languages.
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