2U, Inc. (TWOU) Stake Raised by Legal & General Group Plc
Legal & General Group Plc lifted its holdings in 2U, Inc. (NASDAQ:TWOU) by 40.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,259 shares of the software maker’s stock after buying an additional 4,666 shares during the quarter. Legal & General Group Plc’s holdings in 2U were worth $764,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of TWOU. BlackRock Inc. lifted its stake in shares of 2U by 66,695.5% during the 1st quarter. BlackRock Inc. now owns 2,320,475 shares of the software maker’s stock worth $92,031,000 after acquiring an additional 2,317,001 shares during the last quarter. Wellington Management Group LLP grew its position in 2U by 226.6% in the 1st quarter. Wellington Management Group LLP now owns 3,045,515 shares of the software maker’s stock valued at $120,786,000 after acquiring an additional 2,112,997 shares during the last quarter. Pictet Asset Management Ltd. grew its position in 2U by 545.8% in the 2nd quarter. Pictet Asset Management Ltd. now owns 507,033 shares of the software maker’s stock valued at $21,676,000 after acquiring an additional 428,515 shares during the last quarter. Russell Investments Group Ltd. grew its position in 2U by 540.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 406,412 shares of the software maker’s stock valued at $19,067,000 after acquiring an additional 342,963 shares during the last quarter. Finally, OppenheimerFunds Inc. bought a new position in 2U in the 1st quarter valued at $9,977,000.
A number of analysts have weighed in on TWOU shares. Zacks Investment Research upgraded 2U from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Thursday, July 6th. BidaskClub upgraded 2U from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. KeyCorp reissued an “overweight” rating and set a $50.00 target price on shares of 2U in a research note on Monday, July 10th. Citigroup Inc. began coverage on shares of 2U in a research note on Tuesday, July 18th. They set a “buy” rating and a $57.00 target price for the company. Finally, Credit Suisse Group began coverage on shares of 2U in a report on Friday, September 8th. They issued an “outperform” rating and a $58.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $55.27.
In related news, Director Mark Chernis sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $52.90, for a total transaction of $238,050.00. Following the completion of the transaction, the director now directly owns 19,825 shares in the company, valued at approximately $1,048,742.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John M. Larson sold 150,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $46.79, for a total value of $7,018,500.00. Following the transaction, the director now owns 16,065 shares of the company’s stock, valued at $751,681.35. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by company insiders.
2U, Inc. (NASDAQ:TWOU) opened at 57.35 on Wednesday. The company’s market cap is $2.75 billion. The stock’s 50 day moving average price is $51.83 and its 200-day moving average price is $46.36. 2U, Inc. has a 52-week low of $29.23 and a 52-week high of $57.67.
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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