Credit Suisse AG lowered its position in 2U Inc (NASDAQ:TWOU) by 23.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,717 shares of the software maker’s stock after selling 36,457 shares during the period. Credit Suisse AG owned 0.25% of 2U worth $4,748,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of TWOU. Russell Investments Group Ltd. acquired a new position in shares of 2U during the fourth quarter worth $655,000. State Board of Administration of Florida Retirement System raised its position in shares of 2U by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 16,455 shares of the software maker’s stock worth $496,000 after buying an additional 140 shares in the last quarter. State Street Corp raised its position in shares of 2U by 4.7% in the fourth quarter. State Street Corp now owns 632,943 shares of the software maker’s stock worth $19,083,000 after buying an additional 28,168 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of 2U during the fourth quarter worth $226,000. Finally, AQR Capital Management LLC raised its position in shares of 2U by 87.7% in the fourth quarter. AQR Capital Management LLC now owns 18,685 shares of the software maker’s stock worth $563,000 after buying an additional 8,730 shares in the last quarter.
Shares of 2U Inc (TWOU) traded up 0.73% during midday trading on Friday, reaching $48.29. 322,032 shares of the company’s stock traded hands. The firm’s market capitalization is $2.31 billion. The stock’s 50-day moving average price is $48.58 and its 200 day moving average price is $42.65. 2U Inc has a one year low of $29.23 and a one year high of $52.94.
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A number of research firms have recently commented on TWOU. BMO Capital Markets raised their price objective on shares of 2U from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. Needham & Company LLC restated a “buy” rating and issued a $54.00 price objective (up from $49.00) on shares of 2U in a research report on Friday, May 5th. Zacks Investment Research lowered shares of 2U from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. BidaskClub upgraded shares of 2U from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Finally, KeyCorp restated an “overweight” rating and issued a $50.00 price objective on shares of 2U in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $54.60.
In other 2U news, Director Mark Chernis sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $44.12, for a total value of $198,540.00. Following the completion of the transaction, the director now directly owns 19,825 shares in the company, valued at approximately $874,679. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.40% of the company’s stock.
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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