Xact Kapitalforvaltning AB acquired a new stake in 2U Inc (NASDAQ:TWOU) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,616 shares of the software maker’s stock, valued at approximately $362,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in 2U by 12.5% in the 4th quarter. BlackRock Inc. now owns 3,184,359 shares of the software maker’s stock valued at $205,423,000 after purchasing an additional 353,767 shares during the last quarter. Bamco Inc. NY raised its stake in 2U by 6.2% in the 4th quarter. Bamco Inc. NY now owns 2,454,547 shares of the software maker’s stock valued at $158,343,000 after purchasing an additional 143,176 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 2U by 32.7% in the 4th quarter. Bank of New York Mellon Corp now owns 743,018 shares of the software maker’s stock valued at $47,933,000 after purchasing an additional 183,113 shares during the last quarter. OppenheimerFunds Inc. raised its stake in 2U by 3.6% in the 4th quarter. OppenheimerFunds Inc. now owns 573,797 shares of the software maker’s stock valued at $37,015,000 after purchasing an additional 20,127 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in 2U by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 479,453 shares of the software maker’s stock valued at $30,929,000 after purchasing an additional 25,264 shares during the last quarter.
Several research analysts recently commented on TWOU shares. Robert W. Baird reissued a “buy” rating on shares of 2U in a research note on Tuesday, January 9th. Zacks Investment Research upgraded 2U from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Friday, January 12th. Needham & Company LLC upped their target price on 2U to $90.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Goldman Sachs initiated coverage on 2U in a report on Tuesday, March 27th. They issued a “neutral” rating and a $92.00 target price for the company. Finally, Barrington Research restated an “outperform” rating and issued a $92.00 target price (up from $80.00) on shares of 2U in a report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $86.17.
2U (NASDAQ:TWOU) last issued its earnings results on Monday, February 26th. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The company had revenue of $86.70 million during the quarter, compared to analysts’ expectations of $85.12 million. 2U had a negative return on equity of 9.54% and a negative net margin of 10.26%. The firm’s quarterly revenue was up 51.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS. equities analysts expect that 2U Inc will post -0.79 earnings per share for the current fiscal year.
In other news, Director Mark Chernis sold 10,000 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $85.65, for a total transaction of $856,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy M. Haley sold 45,000 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $88.67, for a total value of $3,990,150.00. Following the transaction, the director now owns 4,508 shares of the company’s stock, valued at $399,724.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,075 shares of company stock valued at $4,853,085. Company insiders own 8.40% of the company’s stock.
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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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