Frontier Capital Management Co. LLC Has $72.40 Million Stake in 2U, Inc. (TWOU)

Frontier Capital Management Co. LLC lessened its position in shares of 2U, Inc. (NASDAQ:TWOU) by 27.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,291,904 shares of the software maker’s stock after selling 481,287 shares during the quarter. Frontier Capital Management Co. LLC owned about 2.70% of 2U worth $72,398,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in 2U by 66,695.5% in the first quarter. BlackRock Inc. now owns 2,320,475 shares of the software maker’s stock valued at $92,031,000 after purchasing an additional 2,317,001 shares during the period. Lord Abbett & CO. LLC raised its position in 2U by 64.1% in 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 purchasing an additional 538,487 shares during the period. Bamco Inc. NY purchased a new stake in 2U in the second quarter valued at approximately $24,989,000. Columbus Circle Investors raised its position in 2U by 117.2% in the second quarter. Columbus Circle Investors now owns 914,482 shares of the software maker’s stock valued at $82,111,000 after purchasing an additional 493,364 shares during the period. Finally, Pictet Asset Management Ltd. raised its position in 2U by 545.8% in the second quarter. Pictet Asset Management Ltd. now owns 507,033 shares of the software maker’s stock valued at $21,676,000 after purchasing an additional 428,515 shares during the period.

In other 2U news, Director John M. Larson sold 150,000 shares of the business’s 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 completion of the transaction, the director now owns 16,065 shares of the company’s stock, valued at $751,681.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Chernis sold 4,500 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $52.90, for a total value of $238,050.00. Following the transaction, the director now directly owns 19,825 shares of the company’s stock, valued at approximately $1,048,742.50. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by insiders.

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A number of analysts have issued reports on the company. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $65.00 target price (up previously from $55.00) on shares of 2U in a research report on Friday, October 6th. Compass Point reissued a “buy” rating and issued a $70.00 target price (up previously from $62.00) on shares of 2U in a research report on Monday, October 9th. Zacks Investment Research raised 2U from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. BMO Capital Markets reissued an “outperform” rating and issued a $56.00 target price (up previously from $54.00) on shares of 2U in a research report on Thursday, August 10th. Finally, KeyCorp reissued an “overweight” rating and issued a $50.00 target price on shares of 2U in a research report on Monday, July 10th. One 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 company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $59.00.

2U, Inc. (NASDAQ TWOU) traded up $2.11 during trading hours on Friday, hitting $63.89. 239,732 shares of the company’s stock traded hands, compared to its average volume of 354,937. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.28 and a quick ratio of 3.28.

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.

Institutional Ownership by Quarter for 2U (NASDAQ:TWOU)

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