Thrivent Financial for Lutherans Sells 8,040 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Thrivent Financial for Lutherans cut its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,640 shares of the technology company's stock after selling 8,040 shares during the quarter. Thrivent Financial for Lutherans owned 0.11% of Q2 worth $5,156,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CWM LLC boosted its holdings in shares of Q2 by 54.2% during the second quarter. CWM LLC now owns 481 shares of the technology company's stock worth $29,000 after purchasing an additional 169 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Q2 by 7,878.3% during the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company's stock worth $146,000 after acquiring an additional 1,812 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in Q2 by 108.1% during the third 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 during the last quarter. Quest Partners LLC acquired a new position in Q2 in the 2nd quarter worth about $153,000. Finally, Highland Capital Management LLC acquired a new position in Q2 in the 3rd quarter worth about $208,000.

Insider Transactions at Q2

In other news, CRO Michael A. Volanoski sold 1,428 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total value of $102,716.04. Following the transaction, the executive now directly owns 227,672 shares of the company's stock, valued at $16,376,446.96. The trade was a 0.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value 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. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,963 shares of company stock valued at $2,321,659. Company insiders own 3.00% of the company's stock.

Q2 Stock Performance

Q2 stock traded up $1.42 during trading hours on Friday, hitting $106.37. The stock had a trading volume of 520,218 shares, compared to its average volume of 745,521. The company has a 50-day moving average of $86.05 and a two-hundred day moving average of $72.71. 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 fifty-two week low of $34.59 and a fifty-two week high of $106.53. The company has a market cap of $6.42 billion, a PE ratio of -110.80 and a beta of 1.58.

Analysts Set New Price Targets

A number of analysts have issued reports on QTWO shares. Citigroup cut shares of Q2 from a "buy" rating to a "neutral" rating and lifted their target price for the company from $72.00 to $90.00 in a research note on Friday, October 18th. BTIG Research boosted their price target on Q2 from $75.00 to $82.00 and gave the stock a "buy" rating in a research report on Monday, August 26th. The Goldman Sachs Group increased their price objective on Q2 from $86.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Truist Financial restated a "buy" rating and issued a $100.00 target price (up from $78.00) on shares of Q2 in a report on Thursday, November 7th. Finally, Piper Sandler increased their price target on Q2 from $74.00 to $93.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $91.50.

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.