2U, Inc. (NASDAQ:TWOU) Position Boosted by Russell Investments Group Ltd.
Russell Investments Group Ltd. boosted its position in shares of 2U, Inc. (NASDAQ:TWOU) by 540.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 406,412 shares of the software maker’s stock after buying an additional 342,963 shares during the period. Russell Investments Group Ltd.’s holdings in 2U were worth $19,067,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Suntrust Banks Inc. raised its position in 2U by 1.2% in the first quarter. Suntrust Banks Inc. now owns 8,307 shares of the software maker’s stock worth $329,000 after buying an additional 101 shares during the period. Bank of New York Mellon Corp increased its position in shares of 2U by 105.6% in the first quarter. Bank of New York Mellon Corp now owns 474,297 shares of the software maker’s stock worth $18,810,000 after buying an additional 243,634 shares in the last quarter. US Bancorp DE increased its position in shares of 2U by 16.3% in the first quarter. US Bancorp DE now owns 17,185 shares of the software maker’s stock worth $681,000 after buying an additional 2,408 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of 2U by 10.2% in the first quarter. Wells Fargo & Company MN now owns 574,323 shares of the software maker’s stock worth $22,777,000 after buying an additional 53,051 shares in the last quarter. Finally, First Mercantile Trust Co. increased its position in shares of 2U by 21.8% in the first quarter. First Mercantile Trust Co. now owns 26,257 shares of the software maker’s stock worth $1,041,000 after buying an additional 4,698 shares in the last quarter.
2U, Inc. (TWOU) traded down 1.227% on Tuesday, reaching $50.295. 907,502 shares of the company’s stock traded hands. The firm’s market cap is $2.39 billion. 2U, Inc. has a 12 month low of $29.23 and a 12 month high of $52.94. The firm’s 50-day moving average is $47.66 and its 200 day moving average is $41.48.
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A number of research analysts recently issued reports on the stock. KeyCorp restated an “overweight” rating and set a $50.00 price objective on shares of 2U in a report on Monday, July 10th. Needham & Company LLC boosted their price objective on shares of 2U from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday. Oppenheimer Holdings, Inc. boosted their price objective on shares of 2U from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday. Zacks Investment Research upgraded shares of 2U from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Thursday, July 6th. Finally, Citigroup Inc. initiated coverage on shares of 2U in a report on Tuesday, July 18th. They issued a “buy” rating and a $57.00 price target for the company. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. 2U currently has an average rating of “Buy” and an average target price of $54.00.
In other 2U news, Director Timothy M. Haley sold 23,296 shares of the firm’s 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 transaction, the director now directly owns 23,454 shares of the company’s stock, valued at $931,358.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John M. Larson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $41.42, for a total value of $1,863,900.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,210 shares of company stock valued at $3,004,564. Insiders own 8.40% of the company’s stock.
2U Company Profile
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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