ProShare Advisors LLC Has $1.70 Million Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

ProShare Advisors LLC lifted its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 46.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,845 shares of the technology company's stock after buying an additional 5,337 shares during the period. ProShare Advisors LLC's holdings in Q2 were worth $1,695,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in Q2 during the 4th quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new stake in Q2 during the 4th quarter valued at $30,000. TCTC Holdings LLC acquired a new stake in Q2 during the 4th quarter valued at $30,000. Ameliora Wealth Management Ltd. acquired a new stake in Q2 during the 4th quarter valued at $32,000. Finally, NewEdge Advisors LLC increased its holdings in Q2 by 269.6% during the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock valued at $38,000 after purchasing an additional 275 shares in the last quarter.

Q2 Trading Up 1.5%

QTWO stock traded up $1.33 during midday trading on Tuesday, hitting $87.90. 87,458 shares of the company's stock were exchanged, compared to its average volume of 647,343. The stock's fifty day moving average price is $80.64 and its 200-day moving average price is $90.32. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $5.48 billion, a PE ratio of -135.13 and a beta of 1.47. Q2 Holdings, Inc. has a one year low of $55.97 and a one year high of $112.82.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QTWO. Stephens reaffirmed an "overweight" rating and set a $115.00 price target on shares of Q2 in a report on Thursday, February 13th. Truist Financial reiterated a "buy" rating and issued a $110.00 price objective (up from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Compass Point reiterated a "neutral" rating and issued a $60.00 price objective on shares of Q2 in a research report on Monday, April 7th. Royal Bank of Canada decreased their price objective on Q2 from $108.00 to $101.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Finally, Raymond James decreased their price objective on Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $98.80.

Insiders Place Their Bets

In other news, CEO Matthew P. Flake sold 56,799 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $78.28, for a total value of $4,446,225.72. Following the sale, the chief executive officer now directly owns 453,849 shares in the company, valued at $35,527,299.72. The trade was a 11.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Michael S. Kerr sold 397 shares of Q2 stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $92.90, for a total value of $36,881.30. Following the completion of the sale, the general counsel now directly owns 58,441 shares in the company, valued at approximately $5,429,168.90. This represents a 0.67% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 194,255 shares of company stock worth $14,890,656. Corporate insiders own 0.31% of the company's stock.

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.