Roanoke Asset Management Corp NY decreased its position in shares of 2U, Inc. (NASDAQ:TWOU) by 10.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,155 shares of the software maker’s stock after selling 9,315 shares during the quarter. 2U comprises about 2.2% of Roanoke Asset Management Corp NY’s investment portfolio, making the stock its 11th largest holding. Roanoke Asset Management Corp NY owned about 0.18% of 2U worth $4,716,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. First Trust Advisors LP boosted its holdings in shares of 2U by 1.9% during the third quarter. First Trust Advisors LP now owns 1,369,578 shares of the software maker’s stock valued at $76,751,000 after acquiring an additional 25,237 shares during the period. Strs Ohio boosted its holdings in shares of 2U by 4,328.6% during the third quarter. Strs Ohio now owns 31,000 shares of the software maker’s stock valued at $1,737,000 after acquiring an additional 30,300 shares during the period. Lord Abbett & CO. LLC boosted its holdings in shares of 2U by 64.1% during the second quarter. Lord Abbett & CO. LLC now owns 1,378,603 shares of the software maker’s stock valued at $64,684,000 after acquiring an additional 538,487 shares during the period. Verition Fund Management LLC acquired a new position in shares of 2U during the second quarter valued at $332,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of 2U by 21.4% during the second quarter. Ameritas Investment Partners Inc. now owns 3,844 shares of the software maker’s stock valued at $180,000 after acquiring an additional 677 shares during the period.
Several equities analysts have recently issued reports on the stock. BMO Capital Markets reissued a “buy” rating and set a $68.00 price target on shares of 2U in a report on Wednesday, October 25th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $65.00 price objective (up previously from $55.00) on shares of 2U in a report on Friday, October 6th. Robert W. Baird reaffirmed a “buy” rating and issued a $66.00 price objective (up previously from $59.00) on shares of 2U in a report on Friday, October 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price objective (up previously from $62.00) on shares of 2U in a report on Friday, October 6th. Finally, Zacks Investment Research raised shares of 2U from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. 2U currently has a consensus rating of “Buy” and a consensus target price of $59.00.
In other 2U news, Director Mark Chernis sold 4,500 shares of the firm’s 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 in the company, valued at $1,048,742.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John M. Larson sold 150,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $46.79, for a total value of $7,018,500.00. Following the transaction, the director now owns 16,065 shares in the company, valued at approximately $751,681.35. The disclosure for this sale can be found here. 8.40% of the stock is owned by company insiders.
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Shares of 2U, Inc. (NASDAQ TWOU) traded down 0.574% during midday trading on Wednesday, reaching $63.265. 35,164 shares of the company’s stock were exchanged. The company’s market capitalization is $3.03 billion. The firm has a 50-day moving average of $57.79 and a 200-day moving average of $49.37. 2U, Inc. has a 1-year low of $29.23 and a 1-year high of $64.23.
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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