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Udemy, Inc. (NASDAQ:UDMY – Get Rating) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 2,960,000 shares, a decline of 20.9% from the August 15th total of 3,740,000 shares. Currently, 5.7% of the shares of the company are sold short. Based on an average daily volume of 766,000 shares, the short-interest ratio is presently 3.9 days.
Insider Activity
In other Udemy news, CTO Venu Venugopal sold 2,376 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $14.81, for a total transaction of $35,188.56. Following the sale, the chief technology officer now owns 277,298 shares of the company’s stock, valued at approximately $4,106,783.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Udemy news, CTO Venu Venugopal sold 2,376 shares of Udemy stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $14.81, for a total transaction of $35,188.56. Following the completion of the transaction, the chief technology officer now owns 277,298 shares of the company’s stock, valued at approximately $4,106,783.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gregory Scott Brown sold 3,959 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $14.81, for a total transaction of $58,632.79. Following the completion of the sale, the insider now directly owns 1,219,334 shares in the company, valued at $18,058,336.54. The disclosure for this sale can be found here. Insiders have sold a total of 11,387 shares of company stock valued at $168,641 over the last quarter. Company insiders own 39.20% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Industry Ventures L.L.C. purchased a new stake in Udemy during the 4th quarter valued at $16,948,000. Dragoneer Investment Group LLC bought a new stake in shares of Udemy in the fourth quarter worth about $3,908,000. FNY Investment Advisers LLC purchased a new position in Udemy during the 1st quarter valued at about $37,000. Davidson Kempner Capital Management LP bought a new position in Udemy during the 4th quarter valued at approximately $1,481,000. Finally, Naspers Ltd. purchased a new stake in Udemy in the 4th quarter worth approximately $334,541,000. 73.46% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on UDMY shares. Morgan Stanley lowered their price objective on Udemy from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. KeyCorp boosted their price objective on Udemy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. Jefferies Financial Group boosted their price target on shares of Udemy from $11.00 to $15.00 in a research note on Tuesday, May 31st. Finally, Piper Sandler raised their price objective on shares of Udemy from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Udemy has an average rating of “Moderate Buy” and a consensus price target of $24.17.
Udemy Price Performance
Udemy stock traded up $0.09 during trading hours on Thursday, reaching $14.95. The company had a trading volume of 51,605 shares, compared to its average volume of 467,692. Udemy has a 12-month low of $9.47 and a 12-month high of $32.62. The company has a 50-day moving average price of $13.64 and a 200 day moving average price of $12.63. The firm has a market cap of $2.09 billion and a price-to-earnings ratio of -14.95.
About Udemy
(Get Rating)
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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