California Public Employees Retirement System trimmed its holdings in shares of 2U Inc (NASDAQ:TWOU) by 13.6% during the second quarter, HoldingsChannel.com reports. The fund owned 78,432 shares of the software maker’s stock after selling 12,398 shares during the quarter. California Public Employees Retirement System’s holdings in 2U were worth $6,554,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in TWOU. Millennium Management LLC increased its position in 2U by 1,769.5% during the second quarter. Millennium Management LLC now owns 334,639 shares of the software maker’s stock worth $27,962,000 after acquiring an additional 316,739 shares during the period. First Trust Advisors LP increased its position in 2U by 9.5% during the second quarter. First Trust Advisors LP now owns 1,540,321 shares of the software maker’s stock worth $128,709,000 after acquiring an additional 133,393 shares during the period. Paloma Partners Management Co bought a new position in 2U during the second quarter worth about $10,949,000. Zevenbergen Capital Investments LLC increased its position in 2U by 11.7% during the second quarter. Zevenbergen Capital Investments LLC now owns 1,097,695 shares of the software maker’s stock worth $91,723,000 after acquiring an additional 115,020 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in 2U during the second quarter worth about $7,563,000.
In other news, COO Mark Chernis sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $84.04, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher J. Paucek sold 75,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 605,191 shares in the company, valued at $51,090,224.22. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.
Shares of 2U stock opened at $64.31 on Friday. The stock has a market cap of $4.32 billion and a price-to-earnings ratio of -118.54. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.71 and a current ratio of 5.71. 2U Inc has a 12-month low of $57.84 and a 12-month high of $98.58.
2U (NASDAQ:TWOU) last announced its quarterly earnings data on Thursday, August 2nd. The software maker reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.21. The firm had revenue of $97.40 million for the quarter, compared to the consensus estimate of $95.84 million. 2U had a negative net margin of 13.69% and a negative return on equity of 9.91%. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. On average, analysts predict that 2U Inc will post -0.71 EPS for the current fiscal year.
A number of equities analysts recently commented on TWOU shares. DA Davidson started coverage on shares of 2U in a research report on Wednesday, August 29th. They set a “buy” rating and a $98.00 price target on the stock. BidaskClub raised shares of 2U from a “hold” rating to a “buy” rating in a research report on Friday, August 24th. Barrington Research reaffirmed a “buy” rating and set a $100.00 price target on shares of 2U in a research report on Friday, August 3rd. ValuEngine lowered shares of 2U from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Piper Jaffray Companies began coverage on shares of 2U in a research note on Thursday, September 6th. They set a “neutral” rating and a $94.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $91.15.
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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