Suntrust Banks Inc. increased its stake in shares of 2U, Inc. (NASDAQ:TWOU) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,407 shares of the software maker’s stock after purchasing an additional 100 shares during the period. Suntrust Banks Inc.’s holdings in 2U were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TWOU. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 purchasing an additional 1,693 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of 2U during the 1st quarter worth about $126,000. Rehmann Capital Advisory Group acquired a new position in shares of 2U during the 2nd quarter worth about $204,000. Principal Financial Group Inc. acquired a new position in shares of 2U during the 1st quarter worth about $208,000. Finally, Prudential Financial Inc. acquired a new position in shares of 2U during the 2nd quarter worth about $222,000.
In other 2U news, Director Mark Chernis sold 4,500 shares of 2U stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $52.90, for a total transaction of $238,050.00. Following the completion of the transaction, the director now owns 19,825 shares in the company, valued at $1,048,742.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John M. Larson sold 150,000 shares of 2U stock in a transaction dated 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 transaction, the director now owns 16,065 shares of the company’s stock, valued at approximately $751,681.35. The disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.
Shares of 2U, Inc. (NASDAQ TWOU) opened at 60.70 on Friday. The firm’s market cap is $2.91 billion. The firm has a 50-day moving average of $53.95 and a 200-day moving average of $47.32. 2U, Inc. has a 12-month low of $29.23 and a 12-month high of $60.79.
TWOU has been the subject of several research analyst reports. BidaskClub upgraded shares of 2U from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded shares of 2U from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Thursday, July 6th. KeyCorp restated an “overweight” rating and set a $50.00 price target on shares of 2U in a research report on Monday, July 10th. Citigroup Inc. initiated coverage on shares of 2U in a research report on Tuesday, July 18th. They set a “buy” rating and a $57.00 price target for the company. Finally, Needham & Company LLC upped their price target on shares of 2U from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $57.91.
2U Company Profile
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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