Q2 Holdings, Inc. $QTWO Shares Sold by Entropy Technologies LP

Key Points

• Entropy Technologies LP reduced its stake in Q2 Holdings, Inc. by 65.9%, selling 5,704 shares and retaining only 2,957 shares valued at $237,000.
• Research firms have positively updated their ratings on Q2, with Zacks Research assigning a "strong-buy" rating and multiple firms increasing their price targets to between $90.00 and $115.00.
• Q2 Holdings' stock price decreased by 0.3% to $74.55, with a 1-year range from $63.61 to $112.82, and a market capitalization of $4.65 billion.

Entropy Technologies LP cut its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 65.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,957 shares of the technology company's stock after selling 5,704 shares during the period. Entropy Technologies LP's holdings in Q2 were worth $237,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Invesco Ltd. grew its position in shares of Q2 by 2.3% during the 1st quarter. Invesco Ltd. now owns 2,675,224 shares of the technology company's stock valued at $214,045,000 after acquiring an additional 60,958 shares during the period. Townsquare Capital LLC lifted its stake in Q2 by 20.8% in the 1st quarter. Townsquare Capital LLC now owns 3,482 shares of the technology company's stock valued at $279,000 after buying an additional 600 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Q2 by 10.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,861 shares of the technology company's stock valued at $229,000 after buying an additional 259 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Q2 by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 514,732 shares of the technology company's stock valued at $41,184,000 after buying an additional 7,667 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Q2 by 42.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,816 shares of the technology company's stock valued at $225,000 after buying an additional 844 shares in the last quarter.

Analyst Ratings Changes

QTWO has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Q2 in a research note on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price target on the stock. Raymond James Financial decreased their price target on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Stifel Nicolaus raised their price target on shares of Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Morgan Stanley raised their price target on shares of Q2 from $89.00 to $93.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen lowered shares of Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $101.06.

Q2 Stock Down 0.8%

QTWO traded down $0.6070 during trading on Tuesday, reaching $75.1030. The company's stock had a trading volume of 100,969 shares, compared to its average volume of 707,856. The firm has a fifty day simple moving average of $87.04 and a two-hundred day simple moving average of $84.57. Q2 Holdings, Inc. has a 1 year low of $63.61 and a 1 year high of $112.82. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 1,500.30 and a beta of 1.47.

Insider Buying and Selling

In other news, CRO Michael A. Volanoski sold 1,428 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $88.88, for a total transaction of $126,920.64. Following the completion of the sale, the executive owned 175,812 shares in the company, valued at $15,626,170.56. This trade represents a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Offerdahl sold 786 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total transaction of $58,281.90. Following the sale, the director owned 17,792 shares of the company's stock, valued at $1,319,276.80. This represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,380 shares of company stock valued at $378,554 in the last 90 days. Insiders own 0.31% of the company's stock.

About Q2

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.