Jennison Associates LLC Sells 348,209 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Jennison Associates LLC reduced its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 18.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,517,634 shares of the technology company's stock after selling 348,209 shares during the quarter. Jennison Associates LLC owned 2.52% of Q2 worth $121,062,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in QTWO. CWM LLC boosted its position in Q2 by 54.2% in the 2nd quarter. CWM LLC now owns 481 shares of the technology company's stock valued at $29,000 after buying an additional 169 shares during the last quarter. International Assets Investment Management LLC grew its stake in Q2 by 7,878.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company's stock valued at $146,000 after purchasing an additional 1,812 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Q2 by 108.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company's stock valued at $148,000 after purchasing an additional 964 shares in the last quarter. Quest Partners LLC purchased a new stake in Q2 during the 2nd quarter worth approximately $153,000. Finally, Highland Capital Management LLC acquired a new position in shares of Q2 in the 3rd quarter valued at approximately $208,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Q2 from $65.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. BTIG Research upped their price objective on Q2 from $75.00 to $82.00 and gave the company a "buy" rating in a research note on Monday, August 26th. Citigroup lowered Q2 from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $72.00 to $90.00 in a research report on Friday, October 18th. DA Davidson raised their price objective on Q2 from $76.00 to $86.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th. Finally, Compass Point boosted their target price on shares of Q2 from $91.00 to $107.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $91.50.

Insider Buying and Selling at Q2

In related news, Director Jeffrey T. Diehl sold 28,005 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the transaction, the director now directly owns 397,702 shares in the company, valued at $29,927,075.50. The trade was a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Michael S. Kerr sold 517 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the transaction, the general counsel now owns 61,130 shares of the company's stock, valued at approximately $4,331,671.80. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,963 shares of company stock worth $2,321,659 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Q2 Price Performance

Shares of NYSE:QTWO opened at $101.43 on Thursday. The company has a market cap of $6.13 billion, a P/E ratio of -105.66 and a beta of 1.58. The company's fifty day moving average is $84.76 and its two-hundred day moving average is $72.10. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. Q2 Holdings, Inc. has a 12-month low of $34.59 and a 12-month high of $105.00.

Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.