Gilder Gagnon Howe & Co. LLC Reduces Stake in 2U Inc. (TWOU)
Gilder Gagnon Howe & Co. LLC lowered its position in 2U Inc. (NASDAQ:TWOU) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,899,925 shares of the company’s stock after selling 186,130 shares during the period. 2U comprises approximately 2.3% of Gilder Gagnon Howe & Co. LLC’s portfolio, making the stock its 6th largest position. Gilder Gagnon Howe & Co. LLC owned about 8.40% of 2U worth $114,697,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new stake in 2U during the second quarter worth about $262,000. Quadrature Capital Ltd acquired a new position in shares of 2U during the first quarter worth approximately $324,000. Alpha Windward LLC acquired a new position in shares of 2U during the second quarter worth approximately $441,000. Barclays PLC acquired a new position in shares of 2U during the first quarter worth approximately $504,000. Finally, Hamilton Lane Advisors LLC boosted its position in shares of 2U by 151.3% in the second quarter. Hamilton Lane Advisors LLC now owns 55,426 shares of the company’s stock worth $1,543,000 after buying an additional 33,370 shares during the last quarter.
Shares of 2U Inc. (NASDAQ:TWOU) traded up 0.973% during midday trading on Wednesday, hitting $35.815. 50,527 shares of the stock were exchanged. The stock’s market cap is $1.68 billion. 2U Inc. has a 12 month low of $14.94 and a 12 month high of $38.91. The firm has a 50 day moving average of $35.96 and a 200-day moving average of $31.50.
2U (NASDAQ:TWOU) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. 2U had a negative net margin of 13.20% and a negative return on equity of 11.97%. The business earned $49.10 million during the quarter, compared to analyst estimates of $48.50 million. During the same quarter last year, the business earned ($0.14) earnings per share. 2U’s quarterly revenue was up 39.3% compared to the same quarter last year. Equities research analysts anticipate that 2U Inc. will post ($0.16) EPS for the current year.
A number of equities analysts recently commented on TWOU shares. Zacks Investment Research upgraded shares of 2U from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Thursday, August 11th. Pacific Crest reiterated a “buy” rating and issued a $38.00 target price on shares of 2U in a research report on Friday, August 5th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of 2U in a research report on Thursday, July 28th. Credit Suisse Group AG reiterated a “buy” rating on shares of 2U in a research report on Monday, August 1st. Finally, Compass Point lifted their target price on shares of 2U from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $38.88.
In other news, insider James Kenigsberg sold 5,468 shares of the stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $36.58, for a total value of $200,019.44. Following the sale, the insider now owns 58,654 shares of the company’s stock, valued at $2,145,563.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Timothy M. Haley sold 82,927 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $33.46, for a total transaction of $2,774,737.42. Following the completion of the sale, the director now directly owns 13,801 shares in the company, valued at approximately $461,781.46. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.
2U, Inc is a provider of an integrated solution consisting of cloud-based software-as-a-service (SaaS) combined with technology-enabled services (together, the Platform) that allows colleges and universities to deliver online degree programs. The Company’s SaaS technology consists of an online learning environment, Online Campus, which acts as the hub for student and faculty academic and social interaction, and operations applications.
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