M&T Bank Corp lifted its stake in 2U Inc (NASDAQ:TWOU) by 32.3% in the second quarter, HoldingsChannel reports. The fund owned 19,351 shares of the software maker’s stock after purchasing an additional 4,729 shares during the quarter. M&T Bank Corp’s holdings in 2U were worth $728,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TWOU. TimesSquare Capital Management LLC increased its stake in shares of 2U by 7.4% during the first quarter. TimesSquare Capital Management LLC now owns 1,888,080 shares of the software maker’s stock valued at $133,770,000 after acquiring an additional 130,620 shares during the period. Atria Investments LLC acquired a new position in shares of 2U during the 2nd quarter valued at $209,000. ARK Investment Management LLC increased its position in shares of 2U by 171.3% during the 2nd quarter. ARK Investment Management LLC now owns 1,403,952 shares of the software maker’s stock valued at $52,845,000 after purchasing an additional 886,408 shares during the period. Baillie Gifford & Co. raised its stake in shares of 2U by 26.1% in the 2nd quarter. Baillie Gifford & Co. now owns 1,798,034 shares of the software maker’s stock worth $67,678,000 after buying an additional 372,148 shares in the last quarter. Finally, FDx Advisors Inc. raised its stake in shares of 2U by 22.6% in the 2nd quarter. FDx Advisors Inc. now owns 10,198 shares of the software maker’s stock worth $384,000 after buying an additional 1,879 shares in the last quarter.

Several brokerages recently weighed in on TWOU. Robert W. Baird cut 2U from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $58.00 to $29.00 in a research note on Wednesday, July 31st. KeyCorp assumed coverage on shares of 2U in a research report on Tuesday, July 16th. They issued an “overweight” rating and a $56.00 price target on the stock. Berenberg Bank downgraded shares of 2U from a “buy” rating to a “hold” rating and cut their price target for the company from $81.00 to $17.00 in a report on Thursday, August 1st. BMO Capital Markets lowered shares of 2U from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $45.00 to $25.00 in a research report on Wednesday, July 31st. Finally, TheStreet cut shares of 2U from a “c-” rating to a “d” rating in a research note on Tuesday, May 21st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $47.00.

Shares of NASDAQ:TWOU traded up $0.70 during midday trading on Wednesday, reaching $19.35. The company had a trading volume of 34,758 shares, compared to its average volume of 2,184,857. The company has a fifty day simple moving average of $19.61 and a two-hundred day simple moving average of $44.37. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -30.86 and a beta of 0.55. 2U Inc has a 1-year low of $11.37 and a 1-year high of $86.93. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.19 and a current ratio of 2.19.

2U (NASDAQ:TWOU) last posted its quarterly earnings data on Tuesday, July 30th. The software maker reported ($0.43) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.59) by $0.16. 2U had a negative return on equity of 7.63% and a negative net margin of 11.39%. The firm had revenue of $135.50 million for the quarter, compared to the consensus estimate of $124.38 million. During the same quarter in the previous year, the company earned ($0.19) EPS. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. Analysts expect that 2U Inc will post -2.11 EPS for the current year.

In other 2U news, Director Gregory K. Peters bought 72,358 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average price of $13.95 per share, with a total value of $1,009,394.10. Following the completion of the transaction, the director now directly owns 98,102 shares in the company, valued at approximately $1,368,522.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James Kenigsberg sold 7,353 shares of 2U stock in a transaction on Friday, July 12th. The shares were sold at an average price of $38.91, for a total value of $286,105.23. Following the transaction, the insider now owns 142,341 shares in the company, valued at approximately $5,538,488.31. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 159,608 shares of company stock valued at $2,264,302. Corporate insiders own 4.92% of the company’s stock.

2U Company Profile

2U, Inc operates as an education technology company in the United States, Hong Kong, South Africa, and the United Kingdom. The company operates through two segments, Graduate Program Segment and Short Course Segment. It offers front-end technology and services, including online learning platform, student and faculty and immersion support, accessibility, admissions application advising, in-program student field placements, and faculty recruiting.

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Institutional Ownership by Quarter for 2U (NASDAQ:TWOU)

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