Wedbush Securities Inc. Takes $664,000 Position in 2U, Inc. (NASDAQ:TWOU)


Share on StockTwits

Wedbush Securities Inc. acquired a new stake in 2U, Inc. (NASDAQ:TWOU) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,375 shares of the software maker’s stock, valued at approximately $664,000.

A number of other institutional investors have also bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. raised its stake in 2U by 3.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,272,370 shares of the software maker’s stock valued at $250,958,000 after buying an additional 215,827 shares in the last quarter. Nikko Asset Management Americas Inc. raised its stake in 2U by 3.6% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 6,272,370 shares of the software maker’s stock valued at $250,958,000 after buying an additional 215,827 shares in the last quarter. BlackRock Inc. raised its stake in 2U by 5.0% in the fourth quarter. BlackRock Inc. now owns 3,262,647 shares of the software maker’s stock valued at $130,539,000 after buying an additional 156,126 shares in the last quarter. Riverbridge Partners LLC grew its holdings in shares of 2U by 79.8% during the first quarter. Riverbridge Partners LLC now owns 3,239,743 shares of the software maker’s stock worth $123,855,000 after purchasing an additional 1,437,968 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of 2U by 9.5% during the fourth quarter. First Trust Advisors LP now owns 2,800,084 shares of the software maker’s stock worth $112,031,000 after purchasing an additional 242,787 shares during the last quarter.

Shares of TWOU stock opened at $39.04 on Tuesday. 2U, Inc. has a fifty-two week low of $23.87 and a fifty-two week high of $59.74. The stock has a market cap of $2.90 billion, a P/E ratio of -11.35 and a beta of 1.10. The business has a fifty day simple moving average of $39.15 and a 200-day simple moving average of $39.49. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.28.

2U (NASDAQ:TWOU) last posted its quarterly earnings data on Tuesday, April 27th. The software maker reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.11. The business had revenue of $232.47 million for the quarter, compared to analyst estimates of $219.49 million. 2U had a negative return on equity of 20.04% and a negative net margin of 30.92%. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.33) earnings per share. On average, sell-side analysts anticipate that 2U, Inc. will post -2.28 earnings per share for the current year.

In other 2U news, CTO James Kenigsberg sold 41,042 shares of the firm’s stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $47.00, for a total value of $1,928,974.00. Following the sale, the chief technology officer now directly owns 129,671 shares of the company’s stock, valued at approximately $6,094,537. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.50% of the stock is owned by company insiders.

Several equities analysts have issued reports on TWOU shares. Barrington Research raised their price objective on 2U from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 12th. Zacks Investment Research lowered 2U from a “buy” rating to a “hold” rating in a report on Thursday, April 15th. Piper Sandler raised their price objective on 2U from $49.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 12th. DA Davidson raised their price objective on 2U from $34.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, February 12th. They noted that the move was a valuation call. Finally, Morgan Stanley decreased their price objective on 2U from $55.00 to $53.00 and set an “equal weight” rating for the company in a research report on Thursday, April 29th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $50.08.

2U Profile

2U, Inc operates as an education technology company in the United States, Hong Kong, South Africa, and the United Kingdom. The company operates in 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.

Read More: What are convertible shares? 

Want to see what other hedge funds are holding TWOU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 2U, Inc. (NASDAQ:TWOU).

Institutional Ownership by Quarter for 2U (NASDAQ:TWOU)

Receive News & Ratings for 2U Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 2U and related companies with MarketBeat.com's FREE daily email newsletter.