State Street Corp Acquires 136,860 Shares of 2U, Inc. (TWOU)
State Street Corp lifted its holdings in 2U, Inc. (NASDAQ:TWOU) by 20.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 803,225 shares of the software maker’s stock after acquiring an additional 136,860 shares during the quarter. State Street Corp owned 1.68% of 2U worth $37,690,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of 2U by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,550,031 shares of the software maker’s stock worth $166,567,000 after acquiring an additional 244,191 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of 2U by 2.9% in the second quarter. William Blair Investment Management LLC now owns 2,830,577 shares of the software maker’s stock worth $132,811,000 after buying an additional 79,191 shares during the period. BlackRock Inc. increased its stake in shares of 2U by 13.3% in the second quarter. BlackRock Inc. now owns 2,628,814 shares of the software maker’s stock worth $123,344,000 after buying an additional 308,339 shares during the period. Alliancebernstein L.P. increased its stake in shares of 2U by 16.2% in the second quarter. Alliancebernstein L.P. now owns 2,207,911 shares of the software maker’s stock worth $103,595,000 after buying an additional 307,691 shares during the period. Finally, Frontier Capital Management Co. LLC increased its stake in shares of 2U by 8.6% in the second quarter. Frontier Capital Management Co. LLC now owns 1,773,191 shares of the software maker’s stock worth $83,198,000 after buying an additional 140,890 shares during the period. Hedge funds and other institutional investors own 99.38% of the company’s stock.
In related news, Director John M. Larson sold 150,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $46.79, for a total value of $7,018,500.00. Following the transaction, the director now owns 16,065 shares in the company, valued at approximately $751,681.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark Chernis sold 4,500 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $52.90, for a total transaction of $238,050.00. Following the completion of the transaction, the director now owns 19,825 shares in the company, valued at approximately $1,048,742.50. The disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.
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Shares of 2U, Inc. (TWOU) opened at $62.51 on Wednesday. 2U, Inc. has a fifty-two week low of $29.23 and a fifty-two week high of $65.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.28 and a current ratio of 3.28.
2U (NASDAQ:TWOU) last announced its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.01. The company had revenue of $70.25 million for the quarter, compared to analysts’ expectations of $69.36 million. 2U had a negative net margin of 10.10% and a negative return on equity of 12.48%. 2U’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) EPS. research analysts expect that 2U, Inc. will post -0.65 earnings per share for the current year.
Several brokerages recently commented on TWOU. BidaskClub downgraded shares of 2U from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $56.00 target price (up from $54.00) on shares of 2U in a research note on Thursday, August 10th. Credit Suisse Group lifted their target price on shares of 2U from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. Barrington Research lifted their target price on shares of 2U to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. Finally, Citigroup Inc. started coverage on shares of 2U in a research report on Tuesday, July 18th. They set a “buy” rating and a $57.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $59.00.
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 a learning environment (Online Campus), which acts as the hub for all student and faculty academic and social interaction, and a suite of integrated applications, which the Company uses to launch, operate and support the Company’s clients’ programs.
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