Jennison Associates LLC lessened its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 17.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,260,360 shares of the technology company's stock after selling 257,274 shares during the period. Jennison Associates LLC owned about 2.09% of Q2 worth $126,855,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP boosted its stake in shares of Q2 by 988.2% in the 3rd quarter. Quarry LP now owns 370 shares of the technology company's stock valued at $30,000 after purchasing an additional 336 shares in the last quarter. CWM LLC boosted its stake in shares of Q2 by 199.8% in the 3rd quarter. CWM LLC now owns 1,442 shares of the technology company's stock valued at $115,000 after purchasing an additional 961 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Q2 by 7,878.3% in 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. boosted its stake in shares of Q2 by 108.1% in 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. Finally, Heck Capital Advisors LLC acquired a new position in Q2 during the 4th quarter worth about $191,000.
Q2 Trading Up 2.8 %
Shares of NYSE:QTWO traded up $2.63 during mid-day trading on Thursday, reaching $96.00. The stock had a trading volume of 567,987 shares, compared to its average volume of 603,274. The firm has a market cap of $5.80 billion, a PE ratio of -99.99 and a beta of 1.61. The firm has a 50 day simple moving average of $100.34 and a two-hundred day simple moving average of $87.20. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99. Q2 Holdings, Inc. has a twelve month low of $41.19 and a twelve month high of $112.82.
Analyst Ratings Changes
A number of equities research analysts have commented on QTWO shares. Baird R W lowered shares of Q2 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Truist Financial reissued a "buy" rating and set a $100.00 price objective (up previously from $78.00) on shares of Q2 in a report on Thursday, November 7th. Citigroup lowered shares of Q2 from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $72.00 to $90.00 in a report on Friday, October 18th. Stifel Nicolaus increased their price objective on shares of Q2 from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group upped their target price on shares of Q2 from $86.00 to $103.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.07.
Read Our Latest Stock Analysis on QTWO
Insider Activity at Q2
In other Q2 news, Director James Offerdahl sold 548 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total transaction of $57,512.60. Following the sale, the director now directly owns 18,241 shares in the company, valued at approximately $1,914,392.95. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Kirk L. Coleman sold 10,428 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the sale, the president now owns 337,643 shares in the company, valued at $35,931,968.06. This trade represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,836 shares of company stock worth $3,061,035 in the last ninety days. Company insiders own 3.00% of the company's stock.
Q2 Company Profile
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Free Report)
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.
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