Royce & Associates LP cut its holdings in shares of 2U Inc (NASDAQ:TWOU) by 17.0% during the second quarter, Holdings Channel reports. The fund owned 29,348 shares of the software maker’s stock after selling 6,000 shares during the quarter. Royce & Associates LP’s holdings in 2U were worth $2,452,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of the stock. Atria Investments LLC purchased a new stake in shares of 2U in the 1st quarter valued at approximately $336,000. Mackay Shields LLC purchased a new stake in shares of 2U in the 1st quarter valued at approximately $664,000. American Century Companies Inc. grew its stake in shares of 2U by 45.8% in the 1st quarter. American Century Companies Inc. now owns 196,647 shares of the software maker’s stock valued at $16,524,000 after buying an additional 61,750 shares during the period. Swiss National Bank grew its stake in shares of 2U by 4.7% in the 1st quarter. Swiss National Bank now owns 90,900 shares of the software maker’s stock valued at $7,638,000 after buying an additional 4,100 shares during the period. Finally, Stephens Investment Management Group LLC grew its stake in shares of 2U by 1.6% in the 1st quarter. Stephens Investment Management Group LLC now owns 416,341 shares of the software maker’s stock valued at $34,985,000 after buying an additional 6,364 shares during the period.
Several research firms have recently weighed in on TWOU. BidaskClub raised shares of 2U from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 11th. Barrington Research reissued a “buy” rating and issued a $100.00 price target on shares of 2U in a research note on Friday, August 3rd. ValuEngine cut shares of 2U from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. BMO Capital Markets increased their price target on shares of 2U from $97.00 to $103.00 and gave the company an “outperform” rating in a research note on Monday, June 4th. Finally, DA Davidson began coverage on shares of 2U in a research note on Wednesday, August 29th. They issued a “buy” rating and a $98.00 price target for the company. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $89.31.
In related news, COO Mark Chernis sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $93.55, for a total transaction of $935,500.00. Following the completion of the transaction, the chief operating officer now owns 43,602 shares of the company’s stock, valued at approximately $4,078,967.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Earl Lewis sold 10,393 shares of the stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $95.74, for a total transaction of $995,025.82. Following the transaction, the director now directly owns 7,880 shares of the company’s stock, valued at approximately $754,431.20. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.
NASDAQ:TWOU opened at $85.51 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.71 and a quick ratio of 5.71. The company has a market cap of $5.13 billion, a P/E ratio of -158.35 and a beta of -0.04. 2U Inc has a fifty-two week low of $47.50 and a fifty-two week high of $98.58.
2U (NASDAQ:TWOU) last posted its quarterly earnings data on Thursday, August 2nd. The software maker reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.21. The firm had revenue of $97.40 million during the quarter, compared to analysts’ expectations of $95.84 million. 2U had a negative net margin of 13.69% and a negative return on equity of 9.91%. The firm’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.11) EPS. equities analysts forecast that 2U Inc will post -0.7 EPS for the current year.
2U Company Profile
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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