Roanoke Asset Management Corp NY reduced its position in shares of 2U Inc (NASDAQ:TWOU) by 16.7% during the first quarter, Holdings Channel reports. The firm owned 99,975 shares of the software maker’s stock after selling 19,975 shares during the period. 2U accounts for approximately 1.9% of Roanoke Asset Management Corp NY’s holdings, making the stock its 16th largest position. Roanoke Asset Management Corp NY owned 0.21% of 2U worth $3,965,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of 2U by 2,379.8% in the first quarter. Bank of Montreal Can now owns 80,346 shares of the software maker’s stock worth $3,187,000 after buying an additional 77,106 shares during the period. Macquarie Group Ltd. raised its stake in shares of 2U by 10.1% in the fourth quarter. Macquarie Group Ltd. now owns 74,573 shares of the software maker’s stock worth $2,248,000 after buying an additional 6,847 shares during the period. Teachers Advisors LLC raised its stake in shares of 2U by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 60,225 shares of the software maker’s stock worth $1,816,000 after buying an additional 2,930 shares during the period. Quadrature Capital Ltd bought a new stake in shares of 2U during the fourth quarter worth about $395,000. Finally, Norges Bank bought a new stake in shares of 2U during the fourth quarter worth about $1,805,000.
Shares of 2U Inc (NASDAQ:TWOU) traded down 0.80% during midday trading on Friday, hitting $43.30. 405,178 shares of the company were exchanged. The stock’s 50-day moving average is $39.27 and its 200-day moving average is $35.43. The stock’s market cap is $2.05 billion. 2U Inc has a one year low of $26.03 and a one year high of $44.42.
2U (NASDAQ:TWOU) last posted its quarterly earnings data on Thursday, February 23rd. The software maker reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm earned $57.40 million during the quarter, compared to analysts’ expectations of $56.39 million. 2U had a negative net margin of 11.41% and a negative return on equity of 11.24%. The business’s revenue was up 32.6% compared to the same quarter last year. Equities research analysts anticipate that 2U Inc will post ($0.12) EPS for the current year.
A number of brokerages have recently issued reports on TWOU. Needham & Company LLC restated a “buy” rating and issued a $49.00 target price (up previously from $43.00) on shares of 2U in a research note on Monday, April 10th. Credit Suisse Group AG restated an “outperform” rating and issued a $54.00 target price (up previously from $43.00) on shares of 2U in a research note on Tuesday, April 4th. TheStreet upgraded shares of 2U from a “d” rating to a “c” rating in a research note on Monday, March 27th. Finally, Zacks Investment Research upgraded shares of 2U from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Wednesday, March 1st. Nine equities research analysts have rated the stock with a buy rating, 2U has a consensus rating of “Buy” and a consensus target price of $43.38.
2U Company Profile
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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