2U, Inc. (NASDAQ:TWOU) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $60.83 and last traded at $60.84, with a volume of 450,143 shares changing hands. The stock had previously closed at $59.73.
A number of equities research analysts have issued reports on the stock. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $65.00 price objective (up from $55.00) on shares of 2U in a report on Friday, October 6th. Robert W. Baird reaffirmed a “buy” rating and set a $66.00 price objective (up from $59.00) on shares of 2U in a report on Friday, October 6th. Needham & Company LLC reiterated a “buy” rating and set a $66.00 target price (up from $62.00) on shares of 2U in a research report on Friday, October 6th. Zacks Investment Research upgraded 2U from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, Compass Point reiterated a “buy” rating and set a $70.00 target price (up from $62.00) on shares of 2U in a research report on Monday, October 9th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $57.91.
The stock’s market capitalization is $2.89 billion. The company’s 50-day moving average price is $54.43 and its 200-day moving average price is $47.62.
In related news, Director Mark Chernis sold 4,500 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 19,825 shares in the company, valued at $1,048,742.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John M. Larson sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $46.79, for a total value of $7,018,500.00. Following the sale, the director now owns 16,065 shares of the company’s stock, valued at $751,681.35. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of TWOU. BlackRock Inc. increased its position in shares of 2U by 66,695.5% during the first quarter. BlackRock Inc. now owns 2,320,475 shares of the software maker’s stock worth $92,031,000 after purchasing an additional 2,317,001 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in 2U by 64.1% during the second quarter. Lord Abbett & CO. LLC now owns 1,378,603 shares of the software maker’s stock worth $64,684,000 after buying an additional 538,487 shares during the last quarter. Bamco Inc. NY acquired a new position in 2U during the second quarter worth $24,989,000. Columbus Circle Investors boosted its stake in 2U by 117.2% during the second quarter. Columbus Circle Investors now owns 914,482 shares of the software maker’s stock worth $82,111,000 after buying an additional 493,364 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in 2U by 545.8% during the second quarter. Pictet Asset Management Ltd. now owns 507,033 shares of the software maker’s stock worth $21,676,000 after buying an additional 428,515 shares during the last quarter.
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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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