TimesSquare Capital Management LLC increased its stake in shares of 2U Inc (NASDAQ:TWOU) by 0.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,901,080 shares of the software maker’s stock after buying an additional 13,000 shares during the quarter. TimesSquare Capital Management LLC owned about 3.25% of 2U worth $71,557,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Meridian Wealth Management LLC purchased a new stake in 2U in the first quarter valued at $50,000. Icon Wealth Partners LLC purchased a new stake in 2U in the first quarter valued at $55,000. Daiwa Securities Group Inc. purchased a new stake in 2U in the second quarter valued at $33,000. FUKOKU MUTUAL LIFE INSURANCE Co purchased a new stake in 2U in the first quarter valued at $85,000. Finally, BNP Paribas Arbitrage SA raised its position in 2U by 27.8% in the second quarter. BNP Paribas Arbitrage SA now owns 1,596 shares of the software maker’s stock valued at $60,000 after purchasing an additional 347 shares during the period.
In other news, Director Gregory K. Peters bought 72,358 shares of 2U stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average cost of $13.95 per share, with a total value of $1,009,394.10. Following the acquisition, the director now owns 98,102 shares of the company’s stock, valued at $1,368,522.90. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider James Kenigsberg sold 7,353 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $38.91, for a total value of $286,105.23. Following the completion of the sale, the insider now directly owns 142,341 shares of the company’s stock, valued at $5,538,488.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 154,608 shares of company stock valued at $2,263,302. Insiders own 4.92% of the company’s stock.
2U (NASDAQ:TWOU) last released 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. The business had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $124.38 million. 2U had a negative return on equity of 7.63% and a negative net margin of 11.39%. The business’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) EPS. Equities analysts expect that 2U Inc will post -2.1 EPS for the current year.
A number of equities research analysts have commented on the company. TheStreet downgraded 2U from a “c-” rating to a “d” rating in a research report on Tuesday, May 21st. Robert W. Baird downgraded 2U from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $58.00 to $29.00 in a research report on Wednesday, July 31st. Credit Suisse Group reduced their target price on 2U from $55.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Barrington Research downgraded 2U from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC downgraded 2U from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $47.00.
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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