Legal & General Group Plc Has $457,000 Stake in 2U, Inc. (NASDAQ:TWOU)
Legal & General Group Plc raised its position in 2U, Inc. (NASDAQ:TWOU) by 29.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,593 shares of the software maker’s stock after buying an additional 2,665 shares during the period. Legal & General Group Plc’s holdings in 2U were worth $457,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of 2U by 87.7% in the fourth quarter. AQR Capital Management LLC now owns 18,685 shares of the software maker’s stock valued at $563,000 after buying an additional 8,730 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of 2U by 74.5% in the first quarter. Nationwide Fund Advisors now owns 39,968 shares of the software maker’s stock valued at $1,585,000 after buying an additional 17,066 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of 2U by 10.1% in the fourth quarter. Macquarie Group Ltd. now owns 74,573 shares of the software maker’s stock valued at $2,248,000 after buying an additional 6,847 shares in the last quarter. OppenheimerFunds Inc. purchased a new position in shares of 2U during the first quarter valued at about $9,977,000. Finally, Cortina Asset Management LLC purchased a new position in shares of 2U during the first quarter valued at about $2,342,000.
Shares of 2U, Inc. (NASDAQ TWOU) traded down 1.57% during trading on Friday, hitting $49.54. 362,789 shares of the company’s stock were exchanged. The stock’s market cap is $2.36 billion. 2U, Inc. has a 1-year low of $29.23 and a 1-year high of $52.94. The stock’s 50-day moving average price is $47.66 and its 200-day moving average price is $41.48.
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TWOU has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $49.00 price target (up from $43.00) on shares of 2U in a report on Monday, April 10th. Zacks Investment Research downgraded shares of 2U from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. BidaskClub raised shares of 2U from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. BMO Capital Markets lifted their price target on shares of 2U from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Finally, Citigroup Inc. initiated coverage on shares of 2U in a report on Tuesday, July 18th. They set a “buy” rating and a $57.00 price target for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $51.14.
In other news, Director Mark Chernis sold 4,500 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $44.12, for a total value of $198,540.00. Following the completion of the transaction, the director now owns 19,825 shares of the company’s stock, valued at $874,679. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy M. Haley sold 23,296 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $39.71, for a total transaction of $925,084.16. Following the completion of the transaction, the director now directly owns 23,454 shares of the company’s stock, valued at approximately $931,358.34. The disclosure for this sale can be found here. Insiders sold 73,210 shares of company stock valued at $3,004,564 in the last three months. Company insiders own 8.40% 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 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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