Vanguard Group Inc. increased its stake in 2U Inc (NASDAQ:TWOU) by 3.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,305,840 shares of the software maker’s stock after buying an additional 104,328 shares during the period. Vanguard Group Inc. owned about 7.00% of 2U worth $131,109,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased its position in 2U by 226.6% in the first quarter. Wellington Management Group LLP now owns 3,045,515 shares of the software maker’s stock valued at $120,786,000 after buying an additional 2,112,997 shares during the period. Alliancebernstein L.P. increased its position in 2U by 61.2% in the first quarter. Alliancebernstein L.P. now owns 1,900,220 shares of the software maker’s stock valued at $75,363,000 after buying an additional 721,672 shares during the period. OppenheimerFunds Inc. purchased a new position in 2U during the first quarter valued at about $9,977,000. Bank of New York Mellon Corp increased its position in 2U by 105.6% in the first quarter. Bank of New York Mellon Corp now owns 474,297 shares of the software maker’s stock valued at $18,810,000 after buying an additional 243,634 shares during the period. Finally, Elk Creek Partners LLC purchased a new position in 2U during the first quarter valued at about $9,593,000.
2U Inc (NASDAQ TWOU) traded up 0.73% during mid-day trading on Friday, reaching $48.29. The company’s stock had a trading volume of 322,032 shares. The firm has a 50-day moving average of $48.58 and a 200 day moving average of $42.65. 2U Inc has a 1-year low of $29.23 and a 1-year high of $52.94. The firm’s market capitalization is $2.31 billion.
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Several brokerages recently weighed in on TWOU. Robert W. Baird boosted their target price on shares of 2U from $49.00 to $59.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th. BidaskClub downgraded shares of 2U from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research downgraded shares of 2U from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. BMO Capital Markets reissued an “outperform” rating and issued a $56.00 target price (up previously from $54.00) on shares of 2U in a research note on Thursday, August 10th. Finally, Credit Suisse Group lifted their price target on 2U from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $54.60.
In other news, Director Mark Chernis sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $44.12, for a total transaction of $198,540.00. Following the completion of the sale, the director now directly owns 19,825 shares of the company’s stock, valued at approximately $874,679. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.40% of the stock is owned by company insiders.
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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