SG Americas Securities LLC bought a new stake in 2U, Inc. (NASDAQ:TWOU – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 17,017 shares of the software maker’s stock, valued at approximately $69,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ARK Investment Management LLC grew its holdings in 2U by 1.7% in the 1st quarter. ARK Investment Management LLC now owns 9,325,605 shares of the software maker’s stock valued at $63,880,000 after buying an additional 159,590 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 2U by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,153,185 shares of the software maker’s stock worth $44,707,000 after purchasing an additional 458,189 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of 2U by 4.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,817,383 shares of the software maker’s stock worth $12,450,000 after purchasing an additional 77,706 shares in the last quarter. Invesco Ltd. grew its holdings in shares of 2U by 11.1% during the 1st quarter. Invesco Ltd. now owns 1,769,009 shares of the software maker’s stock worth $23,492,000 after purchasing an additional 177,100 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of 2U by 4.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,577,531 shares of the software maker’s stock worth $9,859,000 after purchasing an additional 69,662 shares in the last quarter. Institutional investors and hedge funds own 90.55% of the company’s stock.
Wall Street Analysts Forecast Growth
TWOU has been the topic of several recent research reports. Robert W. Baird lowered 2U from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $12.00 to $4.00 in a report on Wednesday, August 9th. Barrington Research reissued an “outperform” rating and set a $7.00 price objective on shares of 2U in a report on Thursday, August 10th. Credit Suisse Group decreased their price objective on 2U from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, August 9th. Piper Sandler decreased their price objective on 2U from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, August 10th. Finally, Needham & Company LLC cut their target price on 2U from $15.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.04.
Insider Buying and Selling at 2U
In other news, insider Aaron Mccullough bought 45,700 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $3.14 per share, for a total transaction of $143,498.00. Following the completion of the transaction, the insider now directly owns 348,524 shares in the company, valued at approximately $1,094,365.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.80% of the company’s stock.
2U Trading Down 1.8 %
Shares of TWOU opened at $2.21 on Friday. The stock has a fifty day moving average price of $3.13 and a two-hundred day moving average price of $4.07. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.76 and a current ratio of 0.76. 2U, Inc. has a 52-week low of $2.12 and a 52-week high of $13.15. The company has a market cap of $179.94 million, a price-to-earnings ratio of -0.48 and a beta of 1.28.
2U (NASDAQ:TWOU – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The software maker reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.08). 2U had a negative net margin of 38.89% and a negative return on equity of 15.18%. The business had revenue of $222.09 million during the quarter, compared to the consensus estimate of $233.67 million. Analysts predict that 2U, Inc. will post -0.45 EPS for the current fiscal year.
2U Profile
2U, Inc operates as an online education platform company in the United States and internationally. The company operates through two segments, Degree Program and Alternative Credential. The Degree Program segment provides the technology and services to nonprofit colleges and universities to enable the online delivery of degree programs.
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