Russell Investments Group Ltd. purchased a new position in shares of 2U, Inc. (NASDAQ:TWOU) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 24,851 shares of the software maker’s stock, valued at approximately $1,035,000.
A number of other large investors have also modified their holdings of the stock. Arizona State Retirement System boosted its stake in 2U by 1.6% during the 1st quarter. Arizona State Retirement System now owns 20,979 shares of the software maker’s stock worth $802,000 after purchasing an additional 329 shares during the period. Principal Financial Group Inc. boosted its stake in 2U by 6.2% during the 1st quarter. Principal Financial Group Inc. now owns 5,693 shares of the software maker’s stock worth $218,000 after purchasing an additional 332 shares during the period. Tompkins Financial Corp boosted its stake in 2U by 133.4% during the 1st quarter. Tompkins Financial Corp now owns 887 shares of the software maker’s stock worth $34,000 after purchasing an additional 507 shares during the period. The PNC Financial Services Group Inc. boosted its stake in 2U by 5.2% during the 1st quarter. The PNC Financial Services Group Inc. now owns 11,996 shares of the software maker’s stock worth $459,000 after purchasing an additional 598 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in shares of 2U by 4.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 14,316 shares of the software maker’s stock worth $597,000 after acquiring an additional 600 shares during the period.
In related news, insider Matthew J. Norden sold 27,250 shares of the firm’s stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $36.98, for a total value of $1,007,705.00. Following the sale, the insider now directly owns 73,292 shares of the company’s stock, valued at $2,710,338.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark Chernis sold 6,888 shares of 2U stock in a transaction that occurred on Monday, July 26th. The shares were sold at an average price of $45.71, for a total transaction of $314,850.48. Following the transaction, the chief operating officer now directly owns 289,975 shares in the company, valued at $13,254,757.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,763 shares of company stock valued at $3,444,249. Insiders own 4.50% of the company’s stock.
2U (NASDAQ:TWOU) last issued its quarterly earnings results on Wednesday, July 28th. The software maker reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. The business had revenue of $237.21 million during the quarter, compared to the consensus estimate of $233.32 million. 2U had a negative net margin of 17.79% and a negative return on equity of 13.52%. On average, analysts anticipate that 2U, Inc. will post -1.93 EPS for the current year.
Several research firms have recently commented on TWOU. Macquarie upgraded shares of 2U from a “neutral” rating to an “outperform” rating in a research note on Monday, July 12th. Barrington Research restated a “buy” rating and issued a $65.00 target price on shares of 2U in a research note on Friday, July 30th. Finally, Morgan Stanley increased their price target on shares of 2U from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, July 30th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $55.86.
2U, Inc engages in the provision of education technology for nonprofit colleges and universities. It operates through the following segments: Degree Program and Alternative Credential. The Degree Program segment provides technology and services to nonprofit colleges and universities to enable the online delivery of degree programs.
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