Bank of New York Mellon Corp lifted its position in shares of 2U Inc (NASDAQ:TWOU) by 32.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 743,018 shares of the software maker’s stock after buying an additional 183,113 shares during the quarter. Bank of New York Mellon Corp’s holdings in 2U were worth $47,933,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of 2U by 37.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the software maker’s stock valued at $232,000 after buying an additional 974 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of 2U by 7.0% during the 3rd quarter. Legal & General Group Plc now owns 17,392 shares of the software maker’s stock valued at $970,000 after buying an additional 1,133 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of 2U by 1.8% during the 3rd quarter. California Public Employees Retirement System now owns 72,100 shares of the software maker’s stock valued at $4,040,000 after buying an additional 1,300 shares in the last quarter. Swiss National Bank lifted its stake in shares of 2U by 1.8% during the 4th quarter. Swiss National Bank now owns 86,800 shares of the software maker’s stock valued at $5,599,000 after buying an additional 1,500 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of 2U by 3.5% during the 3rd quarter. Rhumbline Advisers now owns 51,137 shares of the software maker’s stock valued at $2,866,000 after buying an additional 1,720 shares in the last quarter.
In other 2U news, Director Mark Chernis sold 4,500 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $63.58, for a total value of $286,110.00. Following the sale, the director now owns 19,825 shares in the company, valued at approximately $1,260,473.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James Kenigsberg sold 9,545 shares of the business’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $62.86, for a total transaction of $599,998.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,120 shares of company stock worth $4,882,694. Corporate insiders own 8.40% of the company’s stock.
2U (NASDAQ:TWOU) last announced its quarterly earnings results on Monday, February 26th. The software maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $86.70 million for the quarter, compared to analysts’ expectations of $85.12 million. 2U had a negative net margin of 10.26% and a negative return on equity of 9.54%. The business’s quarterly revenue was up 51.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 EPS. equities analysts forecast that 2U Inc will post -0.79 earnings per share for the current year.
A number of research analysts recently weighed in on TWOU shares. Robert W. Baird restated a “buy” rating and set a $68.00 target price on shares of 2U in a research note on Friday, November 10th. Citigroup lifted their target price on shares of 2U from $57.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 20th. Zacks Investment Research upgraded shares of 2U from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Friday, January 12th. Needham & Company LLC lifted their target price on shares of 2U to $90.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, BMO Capital Markets lifted their target price on shares of 2U from $74.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. One 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’s stock. 2U presently has a consensus rating of “Buy” and an average target price of $83.55.
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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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