2U, Inc. (TWOU) Sets New 1-Year High at $59.24
2U, Inc. (NASDAQ:TWOU) reached a new 52-week high during trading on Thursday . The stock traded as high as $59.24 and last traded at $59.11, with a volume of 107,990 shares changing hands. The stock had previously closed at $58.20.
TWOU has been the topic of several recent research reports. BidaskClub raised shares of 2U from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Zacks Investment Research raised shares of 2U from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Thursday, July 6th. KeyCorp reaffirmed an “overweight” rating and set a $50.00 price objective on shares of 2U in a report on Monday, July 10th. Citigroup Inc. initiated coverage on shares of 2U in a report on Tuesday, July 18th. They set a “buy” rating and a $57.00 price objective on the stock. Finally, Needham & Company LLC upped their price objective on shares of 2U from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $55.27.
The stock’s market cap is $2.85 billion. The stock has a 50 day moving average price of $52.13 and a 200 day moving average price of $46.44.
In related news, Director John M. Larson sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $46.79, for a total transaction of $7,018,500.00. Following the completion of the transaction, the director now directly owns 16,065 shares in the company, valued at approximately $751,681.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark Chernis sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $52.90, for a total value of $238,050.00. Following the transaction, the director now owns 19,825 shares of the company’s stock, valued at $1,048,742.50. The disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC grew its stake in shares of 2U by 64.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,378,603 shares of the software maker’s stock valued at $64,684,000 after acquiring an additional 538,487 shares during the period. Verition Fund Management LLC bought a new position in shares of 2U during the 2nd quarter valued at approximately $332,000. Ameritas Investment Partners Inc. grew its stake in shares of 2U by 21.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,844 shares of the software maker’s stock valued at $180,000 after acquiring an additional 677 shares during the period. California State Teachers Retirement System grew its stake in shares of 2U by 7.4% during the 2nd quarter. California State Teachers Retirement System now owns 77,583 shares of the software maker’s stock valued at $3,640,000 after acquiring an additional 5,373 shares during the period. Finally, Bank of Nova Scotia bought a new position in shares of 2U during the 2nd quarter valued at approximately $1,441,000.
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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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