BNP Paribas Arbitrage SA raised its position in shares of 2U Inc. (NASDAQ:TWOU) by 95.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,465 shares of the company’s stock after buying an additional 1,688 shares during the period. BNP Paribas Arbitrage SA’s holdings in 2U were worth $133,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Legal & General Group Plc increased its position in 2U by 38.3% in the first quarter. Legal & General Group Plc now owns 4,554 shares of the company’s stock worth $105,000 after buying an additional 1,262 shares in the last quarter. Teacher Retirement System of Texas increased its position in 2U by 43.6% in the second quarter. Teacher Retirement System of Texas now owns 4,831 shares of the company’s stock worth $142,000 after buying an additional 1,467 shares in the last quarter. PNC Financial Services Group Inc. increased its position in 2U by 493.2% in the second quarter. PNC Financial Services Group Inc. now owns 6,080 shares of the company’s stock worth $178,000 after buying an additional 5,055 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in 2U during the second quarter worth $262,000. Finally, Emerald Acquisition Ltd. purchased a new position in 2U during the second quarter worth $310,000.
Shares of 2U Inc. (NASDAQ:TWOU) opened at 35.71 on Thursday. 2U Inc. has a 52-week low of $14.94 and a 52-week high of $38.91. The stock’s market cap is $1.67 billion. The company’s 50 day moving average price is $35.98 and its 200 day moving average price is $31.07.
2U (NASDAQ:TWOU) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. The business had revenue of $49.10 million for the quarter, compared to the consensus estimate of $48.50 million. 2U had a negative return on equity of 11.97% and a negative net margin of 13.20%. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.14) EPS. On average, analysts anticipate that 2U Inc. will post ($0.16) earnings per share for the current year.
A number of research analysts have weighed in on the company. Needham & Company LLC assumed coverage on 2U in a report on Friday, July 15th. They issued a “buy” rating and a $40.00 target price on the stock. Barrington Research raised their price objective on 2U from $33.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. BMO Capital Markets reaffirmed a “buy” rating and issued a $42.00 price objective on shares of 2U in a research note on Friday, August 5th. Pacific Crest reaffirmed a “buy” rating and issued a $38.00 price objective on shares of 2U in a research note on Friday, August 5th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of 2U in a research note on Monday, August 1st. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $39.22.
In other news, Director Timothy M. Haley sold 82,927 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $33.46, for a total value of $2,774,737.42. Following the completion of the transaction, the director now owns 13,801 shares of the company’s stock, valued at approximately $461,781.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward S. Macias acquired 714 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was bought at an average cost of $35.43 per share, with a total value of $25,297.02. Following the acquisition, the director now owns 16,748 shares in the company, valued at $593,381.64. The disclosure for this purchase can be found here. Company insiders own 20.90% 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 an online learning environment, Online Campus, which acts as the hub for student and faculty academic and social interaction, and operations applications.
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