Wells Fargo & Company MN Sells 605,985 Shares of 2U Inc (NASDAQ:TWOU)

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Wells Fargo & Company MN reduced its position in 2U Inc (NASDAQ:TWOU) by 83.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,159 shares of the software maker’s stock after selling 605,985 shares during the quarter. Wells Fargo & Company MN owned approximately 0.19% of 2U worth $4,485,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TWOU. Meridian Wealth Management LLC acquired a new position in 2U during the first quarter worth $50,000. Icon Wealth Partners LLC acquired a new position in 2U during the first quarter worth $55,000. Daiwa Securities Group Inc. acquired a new position in 2U during the second quarter worth $33,000. BNP Paribas Arbitrage SA raised its stake in 2U by 27.8% during the second quarter. BNP Paribas Arbitrage SA now owns 1,596 shares of the software maker’s stock worth $60,000 after acquiring an additional 347 shares in the last quarter. Finally, NEXT Financial Group Inc raised its stake in 2U by 39.5% during the second quarter. NEXT Financial Group Inc now owns 1,679 shares of the software maker’s stock worth $64,000 after acquiring an additional 475 shares in the last quarter.

Shares of NASDAQ:TWOU traded up $0.32 during midday trading on Thursday, reaching $18.22. The company’s stock had a trading volume of 18,354 shares, compared to its average volume of 2,199,772. 2U Inc has a fifty-two week low of $11.37 and a fifty-two week high of $80.49. The company has a market capitalization of $1.25 billion, a P/E ratio of -28.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.19 and a quick ratio of 2.19. The business’s fifty day simple moving average is $17.24 and its 200-day simple moving average is $42.52.

2U (NASDAQ:TWOU) last announced its earnings results on Tuesday, July 30th. The software maker reported ($0.43) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.59) by $0.16. 2U had a negative return on equity of 7.63% and a negative net margin of 11.39%. The company had revenue of $135.50 million during the quarter, compared to analyst estimates of $124.38 million. During the same period last year, the company posted ($0.19) earnings per share. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. On average, analysts forecast that 2U Inc will post -2.11 earnings per share for the current fiscal year.

Several research analysts have issued reports on the company. Zacks Investment Research lowered 2U from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. ValuEngine lowered 2U from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Barrington Research lowered 2U from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 31st. BMO Capital Markets lowered 2U from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $45.00 to $25.00 in a research note on Wednesday, July 31st. Finally, KeyCorp assumed coverage on 2U in a research note on Tuesday, July 16th. They set an “overweight” rating and a $56.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $47.00.

In other news, Director Gregory K. Peters acquired 72,358 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $13.95 per share, for a total transaction of $1,009,394.10. Following the completion of the transaction, the director now directly owns 98,102 shares in the company, valued at $1,368,522.90. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James Kenigsberg sold 7,353 shares of 2U stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $38.91, for a total value of $286,105.23. Following the completion of the sale, the insider now owns 142,341 shares of the company’s stock, valued at $5,538,488.31. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 159,608 shares of company stock valued at $2,264,302. 4.92% of the stock is currently owned by corporate insiders.

2U Company Profile

2U, Inc operates as an education technology company in the United States, Hong Kong, South Africa, and the United Kingdom. The company operates through two segments, Graduate Program Segment and Short Course Segment. It offers front-end technology and services, including online learning platform, student and faculty and immersion support, accessibility, admissions application advising, in-program student field placements, and faculty recruiting.

See Also: Earnings Per Share

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

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