Legal & General Group Plc trimmed its position in 2U Inc (NASDAQ:TWOU) by 5.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 42,722 shares of the software maker’s stock after selling 2,640 shares during the period. Legal & General Group Plc owned about 0.07% of 2U worth $907,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in 2U in the 4th quarter worth about $2,783,000. Nisa Investment Advisors LLC bought a new stake in 2U in the 1st quarter worth about $34,000. Marshall Wace North America L.P. bought a new stake in 2U in the 4th quarter worth about $80,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in 2U by 99.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,286 shares of the software maker’s stock worth $133,000 after purchasing an additional 3,132 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in 2U by 16.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,493 shares of the software maker’s stock valued at $156,000 after acquiring an additional 900 shares during the last quarter.
Shares of TWOU stock opened at $37.96 on Wednesday. The stock has a market capitalization of $2.41 billion, a P/E ratio of -8.77 and a beta of 0.73. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $34.91 and its 200 day moving average is $25.87. 2U Inc has a 12 month low of $11.37 and a 12 month high of $40.55.
2U (NASDAQ:TWOU) last announced its quarterly earnings results on Thursday, April 30th. The software maker reported ($0.33) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.10. The company had revenue of $175.50 million for the quarter, compared to analysts’ expectations of $175.32 million. 2U had a negative net margin of 43.60% and a negative return on equity of 19.90%. 2U’s revenue was up 43.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) EPS. On average, equities analysts predict that 2U Inc will post -3.3 EPS for the current year.
A number of research analysts have weighed in on the stock. Robert W. Baird upgraded shares of 2U from a “neutral” rating to an “outperform” rating and set a $30.00 target price on the stock in a research note on Monday, May 4th. ValuEngine cut shares of 2U from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 1st. Barrington Research reiterated an “outperform” rating and issued a $30.00 target price (up from $25.00) on shares of 2U in a research note on Friday, May 1st. Needham & Company LLC reiterated a “buy” rating and issued a $44.00 target price on shares of 2U in a research note on Tuesday, June 16th. Finally, BMO Capital Markets boosted their target price on shares of 2U from $31.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, May 18th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $32.92.
In related news, CTO James Kenigsberg sold 33,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $32.87, for a total transaction of $1,084,710.00. Following the sale, the chief technology officer now owns 157,971 shares of the company’s stock, valued at approximately $5,192,506.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.50% of the company’s stock.
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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