2U, Inc. (NASDAQ:TWOU) Shares Sold by Gilder Gagnon Howe & Co. LLC
Gilder Gagnon Howe & Co. LLC cut its position in shares of 2U, Inc. (NASDAQ:TWOU) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,191,599 shares of the software maker’s stock after selling 18,964 shares during the period. 2U comprises approximately 2.2% of Gilder Gagnon Howe & Co. LLC’s investment portfolio, making the stock its 6th largest position. Gilder Gagnon Howe & Co. LLC owned approximately 6.71% of 2U worth $149,750,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in shares of 2U during the fourth quarter worth approximately $655,000. AQR Capital Management LLC raised its stake 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 worth $563,000 after buying an additional 8,730 shares during the last quarter. Norges Bank purchased a new stake in shares of 2U during the fourth quarter worth approximately $1,805,000. Quadrature Capital Ltd purchased a new stake in shares of 2U during the fourth quarter worth approximately $395,000. Finally, Teachers Advisors LLC raised its stake in shares of 2U by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 60,225 shares of the software maker’s stock worth $1,816,000 after buying an additional 2,930 shares during the last quarter.
Shares of 2U, Inc. (NASDAQ TWOU) opened at 49.54 on Monday. The firm’s market capitalization is $2.36 billion. The company has a 50-day moving average price of $47.66 and a 200-day moving average price of $41.48. 2U, Inc. has a 12 month low of $29.23 and a 12 month high of $52.94.
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A number of brokerages recently commented on TWOU. Citigroup Inc. began coverage on 2U in a research report on Tuesday, July 18th. They issued a “buy” rating and a $57.00 price objective for the company. Zacks Investment Research lowered 2U from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. BidaskClub upgraded 2U from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. KeyCorp reiterated an “overweight” rating and issued a $50.00 price objective on shares of 2U in a research report on Monday, July 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price objective (up from $49.00) on shares of 2U in a research report on Friday, May 5th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $51.14.
In other 2U news, 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 value of $925,084.16. Following the completion of the transaction, the director now directly owns 23,454 shares in the company, valued at $931,358.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders sold 73,210 shares of company stock valued at $3,004,564 over the last quarter. Corporate 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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