Strs Ohio Trims Holdings in 2U Inc (TWOU)
Strs Ohio reduced its holdings in shares of 2U Inc (NASDAQ:TWOU) by 54.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,873 shares of the software maker’s stock after selling 3,427 shares during the period. Strs Ohio’s holdings in 2U were worth $240,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of TWOU. Cerebellum GP LLC bought a new position in shares of 2U in the second quarter worth approximately $135,000. Bayesian Capital Management LP bought a new position in shares of 2U in the first quarter worth approximately $253,000. Commonwealth Equity Services LLC bought a new position in shares of 2U in the second quarter worth approximately $304,000. Sowell Financial Services LLC bought a new position in shares of 2U in the first quarter worth approximately $343,000. Finally, Pier 88 Investment Partners LLC boosted its position in shares of 2U by 33.1% in the second quarter. Pier 88 Investment Partners LLC now owns 5,495 shares of the software maker’s stock worth $459,000 after purchasing an additional 1,365 shares during the period.
TWOU has been the subject of a number of recent analyst reports. DA Davidson initiated coverage on shares of 2U in a research report on Wednesday, August 29th. They issued a “buy” rating and a $98.00 price target for the company. ValuEngine upgraded shares of 2U from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 2nd. Barrington Research reiterated a “buy” rating and issued a $100.00 price target on shares of 2U in a research report on Friday, August 3rd. BidaskClub lowered shares of 2U from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st. Finally, BMO Capital Markets upped their price target on shares of 2U from $97.00 to $103.00 and gave the stock an “outperform” rating in a research report on Monday, June 4th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $89.64.
2U (NASDAQ:TWOU) last issued its earnings results on Thursday, August 2nd. The software maker reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.21. 2U had a negative net margin of 13.69% and a negative return on equity of 9.91%. The firm had revenue of $97.40 million during the quarter, compared to analyst estimates of $95.84 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. 2U’s revenue for the quarter was up 49.8% on a year-over-year basis. research analysts forecast that 2U Inc will post -0.71 EPS for the current year.
In related news, CEO Christopher J. Paucek sold 75,000 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $84.42, for a total transaction of $6,331,500.00. Following the sale, the chief executive officer now owns 605,191 shares of the company’s stock, valued at $51,090,224.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Mark Chernis sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $84.04, for a total transaction of $840,400.00. Following the sale, the chief operating officer now directly owns 43,602 shares in the company, valued at approximately $3,664,312.08. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.
2U Company Profile
2U, Inc operates as an education technology company in the United States, Hong Kong, South Africa, and the United Kingdom. The company operates through two segments, Graduate Program Segment and Short Course Segment. It offers front-end technology and services, including online learning platform, student and faculty and immersion support, accessibility, admissions application advising, in-program student field placements, and faculty recruiting.
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