Teacher Retirement System of Texas lifted its holdings in 2U, Inc. (NASDAQ:TWOU) by 18.8% during the second quarter, HoldingsChannel.com reports. The firm owned 8,934 shares of the software maker’s stock after purchasing an additional 1,411 shares during the period. Teacher Retirement System of Texas’ holdings in 2U were worth $372,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in TWOU. Melqart Asset Management UK Ltd bought a new stake in shares of 2U in the first quarter worth $29,761,000. Nuveen Asset Management LLC lifted its position in shares of 2U by 90.3% in the first quarter. Nuveen Asset Management LLC now owns 497,409 shares of the software maker’s stock worth $19,016,000 after purchasing an additional 236,015 shares in the last quarter. Greenvale Capital LLP lifted its position in shares of 2U by 9.4% in the first quarter. Greenvale Capital LLP now owns 2,650,000 shares of the software maker’s stock worth $101,309,000 after purchasing an additional 226,849 shares in the last quarter. HRT Financial LP bought a new stake in shares of 2U in the first quarter worth $6,929,000. Finally, Premier Fund Managers Ltd bought a new stake in shares of 2U in the first quarter worth $5,541,000.
TWOU has been the topic of a number of research reports. Macquarie raised shares of 2U from a “neutral” rating to an “outperform” rating in a research report on Monday, July 12th. Barrington Research reaffirmed a “buy” rating and set a $65.00 price target on shares of 2U in a research report on Friday, July 30th. Morgan Stanley upped their price target on shares of 2U from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, July 30th. Finally, Jefferies Financial Group dropped their price target on shares of 2U from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, May 18th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $55.86.
2U (NASDAQ:TWOU) last announced its quarterly earnings data on Wednesday, July 28th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. The firm had revenue of $237.21 million for 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%. As a group, equities research analysts expect that 2U, Inc. will post -1.93 earnings per share for the current year.
In other news, insider Matthew J. Norden sold 27,250 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 73,292 shares of the company’s stock, valued at $2,710,338.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark Chernis sold 6,888 shares of the stock in a transaction dated Monday, July 26th. The stock was sold at an average price of $45.71, for a total transaction of $314,850.48. Following the completion of the transaction, the chief operating officer now directly owns 289,975 shares of the company’s stock, valued at approximately $13,254,757.25. The disclosure for this sale can be found here. Insiders have sold 84,763 shares of company stock worth $3,444,249 over the last quarter. Corporate insiders own 4.50% of the company’s stock.
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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