Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 35.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,507 shares of the technology company's stock after selling 23,133 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of Q2 worth $4,177,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its position in Q2 by 0.3% during the third quarter. State Street Corp now owns 1,668,767 shares of the technology company's stock worth $133,118,000 after acquiring an additional 5,000 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Q2 by 32.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company's stock worth $2,451,000 after purchasing an additional 7,475 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Q2 by 61.8% during the 4th quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company's stock worth $11,208,000 after purchasing an additional 42,433 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Q2 in the 3rd quarter valued at approximately $1,227,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Q2 during the 4th quarter valued at $288,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on QTWO shares. Royal Bank of Canada boosted their price target on Q2 from $105.00 to $108.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. KeyCorp raised shares of Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 price target on the stock in a research note on Wednesday, December 18th. Stephens reissued an "overweight" rating and issued a $115.00 price objective on shares of Q2 in a research report on Thursday, February 13th. Truist Financial reissued a "buy" rating and set a $110.00 price objective (up previously from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $99.00 target price (up from $89.00) on shares of Q2 in a research note on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $105.47.

Remove Ads

Q2 Trading Down 2.4 %

Shares of Q2 stock traded down $2.01 during trading hours on Friday, reaching $80.71. The stock had a trading volume of 622,575 shares, compared to its average volume of 639,781. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of -124.16 and a beta of 1.62. Q2 Holdings, Inc. has a 1 year low of $46.50 and a 1 year high of $112.82. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $86.84 and a two-hundred day simple moving average of $90.66.

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

Insiders Place Their Bets

In other news, CEO Matthew P. Flake sold 56,799 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $78.28, for a total transaction of $4,446,225.72. Following the completion of the sale, the chief executive officer now directly owns 453,849 shares in the company, valued at $35,527,299.72. This trade represents a 11.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jonathan Price sold 42,652 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $74.37, for a total value of $3,172,029.24. Following the completion of the transaction, the chief financial officer now owns 209,378 shares in the company, valued at approximately $15,571,441.86. This trade represents a 16.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 157,835 shares of company stock worth $11,959,517 over the last quarter. 3.00% of the stock is owned by corporate insiders.

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.