Franklin Resources Inc. reduced its position in 2U, Inc. (NASDAQ:TWOU) by 24.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,498,995 shares of the software maker’s stock after selling 1,134,711 shares during the period. Franklin Resources Inc. owned 7.36% of 2U worth $164,173,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in TWOU. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of 2U by 182.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,622 shares of the software maker’s stock valued at $123,000 after purchasing an additional 1,693 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of 2U during the 1st quarter valued at about $126,000. Rehmann Capital Advisory Group acquired a new position in shares of 2U during the 2nd quarter valued at about $204,000. Principal Financial Group Inc. acquired a new position in shares of 2U during the 1st quarter valued at about $208,000. Finally, Prudential Financial Inc. acquired a new position in shares of 2U during the 2nd quarter valued at about $222,000.
Several research analysts have recently weighed in on the stock. Credit Suisse Group assumed coverage on shares of 2U in a research report on Friday, September 8th. They set an “outperform” rating and a $58.00 price target on the stock. Compass Point reaffirmed a “buy” rating and issued a $62.00 target price (up previously from $56.00) on shares of 2U in a research report on Monday, September 11th. Needham & Company LLC boosted their price target on shares of 2U from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Barrington Research boosted their price target on shares of 2U to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. Finally, Robert W. Baird upped their target price on shares of 2U from $49.00 to $59.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. One research 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 stock. 2U currently has an average rating of “Buy” and a consensus price target of $55.27.
In other news, Director John M. Larson sold 150,000 shares of the business’s 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 completion of the sale, the director now owns 16,065 shares in the company, valued at $751,681.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark Chernis sold 4,500 shares of the business’s 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 completion of the sale, the director now owns 19,825 shares of the company’s stock, valued at $1,048,742.50. The disclosure for this sale can be found here. Company insiders own 8.40% of the company’s stock.
Shares of 2U, Inc. (NASDAQ TWOU) opened at 53.43 on Friday. The firm’s market capitalization is $2.56 billion. 2U, Inc. has a one year low of $29.23 and a one year high of $55.24. The company’s 50 day moving average price is $50.04 and its 200 day moving average price is $44.80.
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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