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Udemy, Inc. (NASDAQ:UDMY – Get Rating) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 1,970,000 shares, a decline of 32.1% from the October 31st total of 2,900,000 shares. Based on an average daily trading volume, of 529,700 shares, the days-to-cover ratio is currently 3.7 days. Approximately 3.5% of the company’s stock are sold short.
Udemy Stock Down 7.8 %
NASDAQ:UDMY opened at $14.24 on Wednesday. Udemy has a 52-week low of $9.47 and a 52-week high of $28.50. The stock’s 50-day simple moving average is $14.11 and its 200 day simple moving average is $13.48.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Caledonia Private Investments Pty Ltd raised its stake in shares of Udemy by 70.7% during the 2nd quarter. Caledonia Private Investments Pty Ltd now owns 6,503,198 shares of the company’s stock worth $66,398,000 after purchasing an additional 2,692,602 shares in the last quarter. Vanguard Group Inc. lifted its stake in Udemy by 17.2% in the third quarter. Vanguard Group Inc. now owns 5,424,381 shares of the company’s stock valued at $65,580,000 after acquiring an additional 797,005 shares during the last quarter. BlackRock Inc. lifted its stake in Udemy by 16.9% in the third quarter. BlackRock Inc. now owns 4,107,228 shares of the company’s stock valued at $49,657,000 after acquiring an additional 592,661 shares during the last quarter. State Street Corp grew its holdings in Udemy by 16.8% during the third quarter. State Street Corp now owns 1,264,896 shares of the company’s stock worth $15,293,000 after purchasing an additional 182,127 shares during the period. Finally, Credit Suisse AG boosted its stake in shares of Udemy by 9.1% during the 3rd quarter. Credit Suisse AG now owns 801,067 shares of the company’s stock worth $9,685,000 after acquiring an additional 66,722 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports 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. JPMorgan Chase & Co. lowered their target price on Udemy from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, November 3rd. Finally, Piper Sandler upped their price objective on Udemy from $13.00 to $14.50 and gave the stock a “neutral” rating in a research report on Friday, November 4th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.86.
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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