Needham & Company LLC restated their buy rating on shares of 2U, Inc. (NASDAQ:TWOU) in a research note released on Friday morning, MarketBeat.com reports. The brokerage currently has a $66.00 target price on the software maker’s stock, up from their previous target price of $62.00.

Several other research firms also recently commented on TWOU. Robert W. Baird boosted their price objective on 2U from $49.00 to $59.00 and gave the company an outperform rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded 2U from a buy rating to a hold rating in a report on Thursday, July 13th. BidaskClub upgraded 2U from a buy rating to a strong-buy rating in a report on Thursday, June 22nd. Credit Suisse Group boosted their price objective on 2U from $54.00 to $58.00 and gave the company an outperform rating in a report on Tuesday, August 8th. Finally, Barrington Research boosted their price objective on 2U to $56.00 and gave the company an outperform rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $57.18.

2U (NASDAQ:TWOU) opened at 58.92 on Friday. The firm’s 50-day moving average price is $52.75 and its 200-day moving average price is $46.68. The firm’s market cap is $2.82 billion. 2U has a 52-week low of $29.23 and a 52-week high of $60.50.

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In related news, Director John M. Larson sold 150,000 shares of 2U stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $46.79, for a total transaction of $7,018,500.00. Following the transaction, the director now owns 16,065 shares of the company’s stock, valued at $751,681.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Chernis sold 4,500 shares of 2U stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $52.90, for a total value of $238,050.00. Following the transaction, the director now directly owns 19,825 shares in the company, valued at approximately $1,048,742.50. The disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC boosted its position in shares of 2U by 64.1% during the second quarter. Lord Abbett & CO. LLC now owns 1,378,603 shares of the software maker’s stock valued at $64,684,000 after buying an additional 538,487 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of 2U during the second quarter valued at approximately $332,000. Ameritas Investment Partners Inc. boosted its position in shares of 2U by 21.4% during the second quarter. Ameritas Investment Partners Inc. now owns 3,844 shares of the software maker’s stock valued at $180,000 after buying an additional 677 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of 2U by 7.4% during the second quarter. California State Teachers Retirement System now owns 77,583 shares of the software maker’s stock valued at $3,640,000 after buying an additional 5,373 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new position in shares of 2U during the second quarter valued at approximately $1,441,000.

About 2U

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.

Analyst Recommendations for 2U (NASDAQ:TWOU)

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