California Public Employees Retirement System lessened its stake in 2U Inc (NASDAQ:TWOU) by 13.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,432 shares of the software maker’s stock after selling 12,398 shares during the quarter. California Public Employees Retirement System owned 0.14% of 2U worth $6,554,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in 2U by 1,769.5% during the second quarter. Millennium Management LLC now owns 334,639 shares of the software maker’s stock worth $27,962,000 after purchasing an additional 316,739 shares during the last quarter. First Trust Advisors LP boosted its holdings in 2U by 9.5% during the second quarter. First Trust Advisors LP now owns 1,540,321 shares of the software maker’s stock worth $128,709,000 after purchasing an additional 133,393 shares during the last quarter. Paloma Partners Management Co acquired a new position in 2U during the second quarter worth $10,949,000. Zevenbergen Capital Investments LLC boosted its holdings in 2U by 11.7% during the second quarter. Zevenbergen Capital Investments LLC now owns 1,097,695 shares of the software maker’s stock worth $91,723,000 after purchasing an additional 115,020 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in 2U during the second quarter worth $7,563,000.
TWOU has been the subject of several recent research reports. BidaskClub cut shares of 2U from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. DA Davidson initiated coverage on shares of 2U in a report on Wednesday, August 29th. They set a “buy” rating and a $98.00 target price for the company. Piper Jaffray Companies initiated coverage on shares of 2U in a report on Thursday, September 6th. They set a “neutral” rating and a $94.00 target price for the company. ValuEngine upgraded shares of 2U from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 2nd. Finally, Barrington Research restated a “buy” rating and set a $100.00 target price on shares of 2U in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $91.15.
In other 2U news, COO Mark Chernis sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $84.04, for a total transaction of $840,400.00. Following the sale, the chief operating officer now directly owns 43,602 shares of the company’s stock, valued at $3,664,312.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher J. Paucek sold 75,000 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $84.42, for a total transaction of $6,331,500.00. Following the sale, the chief executive officer now directly owns 605,191 shares in the company, valued at $51,090,224.22. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.
NASDAQ TWOU opened at $64.31 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.71 and a current ratio of 5.71. 2U Inc has a 1 year low of $57.84 and a 1 year high of $98.58. The firm has a market cap of $4.32 billion and a price-to-earnings ratio of -118.54.
2U (NASDAQ:TWOU) last posted its quarterly earnings results on Thursday, August 2nd. The software maker reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.21. 2U had a negative net margin of 13.69% and a negative return on equity of 9.91%. The firm had revenue of $97.40 million for the quarter, compared to analyst estimates of $95.84 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The company’s quarterly revenue was up 49.8% compared to the same quarter last year. Equities research analysts anticipate that 2U Inc will post -0.71 EPS for the current year.
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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