Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd has significantly reduced its stake in Q2 Holdings, Inc. by 95%, now holding only 672 shares valued at $54,000 after selling 12,891 shares in the first quarter.
• Analysts have mixed opinions on Q2 stock, with Stifel Nicolaus raising the price target to $110, while Wall Street Zen downgraded it from "strong-buy" to "buy" as of June 8th.
• Q2 Holdings stock has experienced a 9.7% decline recently, trading around $81.25 with a market cap of $5.06 billion and a consensus rating of "Moderate Buy."

Harvest Fund Management Co. Ltd cut its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 95.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 672 shares of the technology company's stock after selling 12,891 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Q2 were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of QTWO. NewEdge Advisors LLC grew its stake in shares of Q2 by 269.6% in the fourth quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock worth $38,000 after acquiring an additional 275 shares in the last quarter. Versant Capital Management Inc acquired a new position in Q2 during the 1st quarter worth $33,000. Larson Financial Group LLC increased its holdings in Q2 by 2,630.0% during the 1st quarter. Larson Financial Group LLC now owns 546 shares of the technology company's stock worth $44,000 after purchasing an additional 526 shares during the period. TCTC Holdings LLC raised its position in Q2 by 103.1% in the 1st quarter. TCTC Holdings LLC now owns 597 shares of the technology company's stock valued at $48,000 after purchasing an additional 303 shares in the last quarter. Finally, Transce3nd LLC acquired a new position in shares of Q2 during the fourth quarter worth about $98,000.

Insider Buying and Selling at Q2

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $88.88, for a total transaction of $126,920.64. Following the completion of the sale, the executive directly owned 175,812 shares of the company's stock, valued at $15,626,170.56. This represents a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Offerdahl sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total value of $87,770.00. Following the sale, the director directly owned 16,241 shares of the company's stock, valued at $1,425,472.57. The trade was a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,991 shares of company stock worth $357,153. 0.31% of the stock is owned by company insiders.

Q2 Trading Down 5.8%

Shares of Q2 stock traded down $4.68 during trading on Friday, reaching $76.52. The company's stock had a trading volume of 1,368,285 shares, compared to its average volume of 536,969. The company has a 50-day moving average price of $90.18 and a two-hundred day moving average price of $86.29. Q2 Holdings, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $112.82. The firm has a market cap of $4.78 billion, a PE ratio of 1,530.71 and a beta of 1.47.

Analysts Set New Price Targets

QTWO has been the topic of several analyst reports. Compass Point reaffirmed a "neutral" rating and issued a $60.00 target price on shares of Q2 in a report on Monday, April 7th. Morgan Stanley lifted their price objective on shares of Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Stifel Nicolaus increased their target price on Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a report on Thursday. Needham & Company LLC raised their price target on Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Cantor Fitzgerald began coverage on Q2 in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 price objective for the company. Eight investment 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $101.06.

Q2 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.