Udemy, Inc. (NASDAQ:UDMY) Sees Large Drop in Short Interest – MarketBeat

0
75

Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
Udemy, Inc. (NASDAQ:UDMYGet 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.

Recommended Stories

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Udemy, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Udemy wasn’t on the list.
While Udemy currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Complete the form below to receive the latest headlines and analysts’ recommendations for your stocks with our free daily email newsletter:
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat’s trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what’s happening in the market right now with MarketBeat’s real-time news feed. Export data to Excel for your own analysis.
As Featured By:
326 E 8th St #105, Sioux Falls, SD 57103
[email protected]
(844) 978-6257
© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.

source