Assenagon Asset Management S.A. Sells 491,606 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Assenagon Asset Management S.A. reduced its holdings in Q2 Holdings, Inc. (NYSE:QTWOFree Report) by 44.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 606,168 shares of the technology company’s stock after selling 491,606 shares during the quarter. Assenagon Asset Management S.A. owned 1.03% of Q2 worth $26,314,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in shares of Q2 in the first quarter worth about $49,000. Captrust Financial Advisors increased its holdings in shares of Q2 by 370.8% in the second quarter. Captrust Financial Advisors now owns 1,243 shares of the technology company’s stock worth $48,000 after acquiring an additional 979 shares in the last quarter. RiverPark Advisors LLC increased its holdings in shares of Q2 by 261.0% in the fourth quarter. RiverPark Advisors LLC now owns 1,332 shares of the technology company’s stock worth $58,000 after acquiring an additional 963 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Q2 by 681.4% during the first quarter. Tower Research Capital LLC TRC now owns 2,485 shares of the technology company’s stock worth $61,000 after buying an additional 2,167 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Q2 during the third quarter worth about $97,000.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on QTWO shares. DA Davidson increased their price objective on Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. The Goldman Sachs Group increased their price objective on Q2 from $39.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Needham & Company LLC increased their price objective on Q2 from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Piper Sandler increased their price objective on Q2 from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Finally, TheStreet upgraded Q2 from a “d+” rating to a “c-” rating in a report on Friday, December 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.40.

Read Our Latest Stock Analysis on QTWO

Q2 Price Performance

QTWO opened at $51.09 on Wednesday. Q2 Holdings, Inc. has a 12-month low of $21.21 and a 12-month high of $52.58. The business has a 50 day moving average of $45.56 and a 200-day moving average of $39.31. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.09.

Q2 (NYSE:QTWOGet Free Report) last released its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. The company had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. As a group, research analysts predict that Q2 Holdings, Inc. will post -0.05 earnings per share for the current year.

Insider Buying and Selling

In related news, Director R. H. Seale sold 689 shares of Q2 stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $48.75, for a total transaction of $33,588.75. Following the completion of the sale, the director now directly owns 420,769 shares of the company’s stock, valued at approximately $20,512,488.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director R. H. Seale sold 689 shares of Q2 stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $48.75, for a total transaction of $33,588.75. Following the completion of the sale, the director now directly owns 420,769 shares of the company’s stock, valued at approximately $20,512,488.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $41.09, for a total value of $1,849,050.00. Following the sale, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at $19,452,457.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 336,313 shares of company stock valued at $14,889,214. Insiders own 3.60% of the company’s stock.

About Q2

(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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Institutional Ownership by Quarter for Q2 (NYSE:QTWO)

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