Strs Ohio Grows Stake in 2U, Inc. (TWOU)
Strs Ohio lifted its stake in shares of 2U, Inc. (NASDAQ:TWOU) by 4,328.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,000 shares of the software maker’s stock after acquiring an additional 30,300 shares during the quarter. Strs Ohio owned 0.06% of 2U worth $1,737,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TWOU. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 worth $123,000 after acquiring an additional 1,693 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of 2U by 21.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,844 shares of the software maker’s stock worth $180,000 after acquiring an additional 677 shares in the last quarter. Rehmann Capital Advisory Group bought a new stake in shares of 2U during the 2nd quarter worth $204,000. Principal Financial Group Inc. bought a new stake in shares of 2U during the 1st quarter worth $208,000. Finally, Advisor Group Inc. boosted its stake in shares of 2U by 41.5% during the 2nd quarter. Advisor Group Inc. now owns 4,476 shares of the software maker’s stock worth $210,000 after acquiring an additional 1,313 shares in the last quarter.
TWOU has been the subject of several recent analyst reports. Zacks Investment Research raised 2U from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Thursday, July 6th. BidaskClub cut 2U from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Needham & Company LLC raised their target price on 2U from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Citigroup Inc. initiated coverage on 2U in a research report on Tuesday, July 18th. They issued a “buy” rating and a $57.00 target price for the company. Finally, 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. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. 2U presently has an average rating of “Buy” and an average price target of $59.00.
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In other news, Director John M. Larson sold 150,000 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $46.79, for a total transaction of $7,018,500.00. Following the completion of the transaction, the director now directly owns 16,065 shares in the company, valued at approximately $751,681.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark Chernis sold 4,500 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $52.90, for a total transaction of $238,050.00. Following the transaction, 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. 8.40% of the stock is currently owned by corporate insiders.
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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