Peregrine Capital Management LLC Buys 46,903 Shares of Q2 Holdings, Inc. $QTWO

Key Points

• Peregrine Capital raised its stake in Q2 by 48.7%, buying 46,903 shares to own 143,243 shares worth about $10.34 million (≈0.23% of the company).
• Company insiders have been net sellers, offloading 411,087 shares worth $20.7 million in the past 90 days (notable sales: Kirk L. Coleman 31,104 shares at $49.75; Kimberly A. Rutledge 20,948 at $51.66), leaving insiders with about 0.31% ownership.
• Analysts have trimmed targets but the consensus remains a “Moderate Buy” with a $77 price target, while the stock recently dropped 5.8% to $49.02 and trades well below that consensus level.

Peregrine Capital Management LLC raised its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 48.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 143,243 shares of the technology company's stock after buying an additional 46,903 shares during the quarter. Peregrine Capital Management LLC owned 0.23% of Q2 worth $10,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in shares of Q2 in the 2nd quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC acquired a new stake in Q2 in the third quarter worth $26,000. Cullen Frost Bankers Inc. bought a new position in shares of Q2 during the third quarter worth $27,000. Salomon & Ludwin LLC acquired a new position in shares of Q2 in the 3rd quarter valued at $30,000. Finally, First Horizon Corp acquired a new stake in Q2 during the 3rd quarter worth $37,000.

Insider Activity at Q2

In other Q2 news, insider Kirk L. Coleman sold 31,104 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $49.75, for a total value of $1,547,424.00. Following the completion of the transaction, the insider directly owned 262,657 shares in the company, valued at $13,067,185.75. This trade represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kimberly Anne Rutledge sold 20,948 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $51.66, for a total value of $1,082,173.68. Following the sale, the insider owned 88,078 shares in the company, valued at approximately $4,550,109.48. This represents a 19.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 411,087 shares of company stock worth $20,702,472. Corporate insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on QTWO shares. Zacks Research cut Q2 from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. Weiss Ratings reissued a "hold (c-)" rating on shares of Q2 in a research note on Tuesday. Truist Financial cut their price target on shares of Q2 from $110.00 to $75.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Cantor Fitzgerald dropped their price objective on shares of Q2 from $90.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, February 12th. Finally, Wall Street Zen lowered shares of Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 12th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.00.

Q2 Stock Down 5.8%

QTWO traded down $2.99 during trading hours on Thursday, hitting $49.02. 62,397 shares of the company's stock were exchanged, compared to its average volume of 924,918. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 62.07 and a beta of 1.42. Q2 Holdings, Inc. has a 1-year low of $44.65 and a 1-year high of $96.68. The stock's 50-day moving average is $49.43 and its two-hundred day moving average is $61.20.

About Q2

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company's core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2's platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.

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