North Reef Capital Management LP Sells 224,811 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

North Reef Capital Management LP reduced its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 22.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 780,189 shares of the technology company's stock after selling 224,811 shares during the period. Q2 comprises 3.5% of North Reef Capital Management LP's investment portfolio, making the stock its 12th largest position. North Reef Capital Management LP owned 1.29% of Q2 worth $78,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. William Blair Investment Management LLC purchased a new position in shares of Q2 during the fourth quarter valued at approximately $202,645,000. Massachusetts Financial Services Co. MA increased its position in shares of Q2 by 107.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company's stock valued at $135,449,000 after buying an additional 698,464 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Q2 by 732.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company's stock worth $75,025,000 after buying an additional 655,838 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Q2 by 893.5% during the 4th quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company's stock worth $47,459,000 after acquiring an additional 424,062 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in Q2 by 208.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 381,094 shares of the technology company's stock worth $38,357,000 after purchasing an additional 257,652 shares in the last quarter.

Insider Buying and Selling

In other Q2 news, Director James Offerdahl sold 1,000 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the completion of the transaction, the director now owns 17,241 shares in the company, valued at $1,516,518.36. This trade represents a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew P. Flake sold 36,023 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $80.35, for a total value of $2,894,448.05. Following the sale, the chief executive officer now directly owns 485,666 shares in the company, valued at $39,023,263.10. The trade was a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 193,858 shares of company stock worth $14,853,965. 3.00% of the stock is owned by corporate insiders.

Q2 Stock Performance

Shares of NYSE QTWO traded up $0.06 during trading on Friday, hitting $79.04. The company had a trading volume of 413,183 shares, compared to its average volume of 652,863. The stock has a 50 day simple moving average of $78.55 and a 200 day simple moving average of $90.26. The firm has a market capitalization of $4.92 billion, a P/E ratio of -121.60 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. Q2 Holdings, Inc. has a 12 month low of $50.91 and a 12 month high of $112.82.

Q2 (NYSE:QTWO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. As a group, analysts anticipate that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QTWO. Citigroup lifted their price target on shares of Q2 from $96.00 to $100.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. The Goldman Sachs Group reduced their price target on Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a report on Friday, March 28th. Needham & Company LLC increased their price objective on shares of Q2 from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Royal Bank of Canada raised their price objective on shares of Q2 from $105.00 to $108.00 and gave the company a "sector perform" rating in a research note on Thursday, February 13th. Finally, Compass Point reiterated a "neutral" rating and issued a $60.00 target price on shares of Q2 in a research note on Monday, April 7th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.33.

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.