2U Inc. (TWOU) Position Cut by Hood River Capital Management LLC
Hood River Capital Management LLC decreased its stake in shares of 2U Inc. (NASDAQ:TWOU) by 37.0% during the second quarter, Holdings Channel reports. The institutional investor owned 262,326 shares of the company’s stock after selling 154,257 shares during the period. Hood River Capital Management LLC’s holdings in 2U were worth $7,715,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Granahan Investment Management Inc. MA raised its position in shares of 2U by 28.6% in the first quarter. Granahan Investment Management Inc. MA now owns 1,945,413 shares of the company’s stock valued at $43,966,000 after buying an additional 433,002 shares in the last quarter. Franklin Resources Inc. raised its position in shares of 2U by 8.6% in the first quarter. Franklin Resources Inc. now owns 4,597,724 shares of the company’s stock valued at $103,909,000 after buying an additional 363,706 shares in the last quarter. First Republic Investment Management Inc. raised its position in shares of 2U by 58.6% in the first quarter. First Republic Investment Management Inc. now owns 220,873 shares of the company’s stock valued at $4,991,000 after buying an additional 81,652 shares in the last quarter. Hamilton Lane Advisors LLC raised its position in shares of 2U by 151.3% in the second quarter. Hamilton Lane Advisors LLC now owns 55,426 shares of the company’s stock valued at $1,543,000 after buying an additional 33,370 shares in the last quarter. Finally, Barclays PLC purchased a new position in shares of 2U during the first quarter valued at about $504,000.
2U Inc. (NASDAQ:TWOU) traded down 0.25% on Thursday, reaching $36.19. The company’s stock had a trading volume of 264,745 shares. 2U Inc. has a 12 month low of $14.94 and a 12 month high of $38.91. The firm’s 50 day moving average is $35.90 and its 200-day moving average is $30.63. The firm’s market cap is $1.70 billion.
2U (NASDAQ:TWOU) last announced its earnings results on Thursday, August 4th. The company reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. 2U had a negative net margin of 13.20% and a negative return on equity of 11.97%. The company had revenue of $49.10 million for the quarter, compared to analysts’ expectations of $48.50 million. During the same period last year, the firm earned ($0.14) earnings per share. The business’s revenue for the quarter was up 39.3% on a year-over-year basis. On average, equities research analysts anticipate that 2U Inc. will post ($0.16) EPS for the current year.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded 2U from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Thursday, August 11th. Pacific Crest reiterated a “buy” rating and issued a $38.00 price objective on shares of 2U in a research note on Friday, August 5th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of 2U in a research note on Thursday, July 28th. Credit Suisse Group AG reiterated a “buy” rating on shares of 2U in a research note on Monday, August 1st. Finally, Compass Point upped their price objective on 2U from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $39.22.
In related news, Director Timothy M. Haley sold 82,927 shares of 2U stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $33.46, for a total value of $2,774,737.42. Following the transaction, the director now directly owns 13,801 shares of the company’s stock, valued at $461,781.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John M. Larson sold 45,000 shares of 2U stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $34.83, for a total transaction of $1,567,350.00. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.
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 an online learning environment, Online Campus, which acts as the hub for student and faculty academic and social interaction, and operations applications.
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