2U, Inc. (TWOU) Stake Raised by First Mercantile Trust Co.
First Mercantile Trust Co. raised its position in 2U, Inc. (NASDAQ:TWOU) by 13.4% during the second quarter, Holdings Channel reports. The firm owned 29,765 shares of the software maker’s stock after buying an additional 3,508 shares during the period. First Mercantile Trust Co.’s holdings in 2U were worth $1,397,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in 2U by 87.7% in the fourth quarter. AQR Capital Management LLC now owns 18,685 shares of the software maker’s stock worth $563,000 after buying an additional 8,730 shares during the period. Nationwide Fund Advisors raised its position in 2U by 74.5% in the first quarter. Nationwide Fund Advisors now owns 39,968 shares of the software maker’s stock worth $1,585,000 after buying an additional 17,066 shares during the period. Macquarie Group Ltd. raised its position in 2U by 10.1% in the fourth quarter. Macquarie Group Ltd. now owns 74,573 shares of the software maker’s stock worth $2,248,000 after buying an additional 6,847 shares during the period. OppenheimerFunds Inc. acquired a new position in 2U during the first quarter worth $9,977,000. Finally, Cortina Asset Management LLC acquired a new position in 2U during the first quarter worth $2,342,000.
2U, Inc. (NASDAQ TWOU) opened at 45.97 on Friday. The company’s market capitalization is $2.20 billion. The company’s 50-day moving average price is $48.52 and its 200-day moving average price is $42.09. 2U, Inc. has a 52 week low of $29.23 and a 52 week high of $52.94.
A number of equities analysts have recently weighed in on TWOU shares. Zacks Investment Research lowered 2U from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. BMO Capital Markets upped their price objective on 2U from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Oppenheimer Holdings, Inc. upped their price objective on 2U from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday. KeyCorp reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of 2U in a research note on Monday, July 10th. Finally, Robert W. Baird upped their price objective on 2U from $49.00 to $59.00 and gave the stock an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $54.60.
In other news, Director John M. Larson sold 45,000 shares of 2U stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $41.42, for a total transaction of $1,863,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy M. Haley sold 23,296 shares of 2U stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $39.71, for a total transaction of $925,084.16. Following the sale, the director now directly owns 23,454 shares in the company, valued at approximately $931,358.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,796 shares of company stock worth $2,987,524. Corporate insiders own 8.40% of the company’s stock.
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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