Tremblant Capital Group Has $21.97 Million Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

Tremblant Capital Group lowered its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 45.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 218,237 shares of the technology company's stock after selling 180,841 shares during the period. Q2 comprises 2.3% of Tremblant Capital Group's portfolio, making the stock its 22nd largest holding. Tremblant Capital Group owned approximately 0.36% of Q2 worth $21,966,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new position in shares of Q2 in the fourth quarter valued at approximately $202,645,000. Capital Research Global Investors grew its stake in Q2 by 11.2% during the fourth quarter. Capital Research Global Investors now owns 1,518,376 shares of the technology company's stock worth $152,825,000 after buying an additional 152,872 shares during the period. Geode Capital Management LLC boosted its stake in shares of Q2 by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company's stock valued at $140,175,000 after purchasing an additional 36,025 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Q2 by 107.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company's stock valued at $135,449,000 after purchasing an additional 698,464 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Q2 by 105.8% in the fourth quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company's stock valued at $101,937,000 after purchasing an additional 520,649 shares during the period.

Analyst Upgrades and Downgrades

QTWO has been the topic of several recent analyst reports. Stephens reaffirmed an "overweight" rating and issued a $115.00 price target on shares of Q2 in a report on Thursday, February 13th. Stifel Nicolaus upped their price target on shares of Q2 from $100.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, May 8th. The Goldman Sachs Group cut their price target on shares of Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Morgan Stanley increased their target price on shares of Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Finally, Needham & Company LLC dropped their target price on shares of Q2 from $125.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Q2 currently has an average rating of "Moderate Buy" and a consensus target price of $98.80.

Insider Activity at Q2

In other news, Director James Offerdahl sold 1,000 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.96, for a total value of $87,960.00. Following the completion of the sale, the director now owns 17,241 shares of the company's stock, valued at approximately $1,516,518.36. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew P. Flake sold 56,799 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $78.28, for a total transaction of $4,446,225.72. Following the completion of the sale, the chief executive officer now directly owns 453,849 shares of the company's stock, valued at approximately $35,527,299.72. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 194,255 shares of company stock worth $14,890,846. Insiders own 0.31% of the company's stock.

Q2 Trading Up 0.2%

Shares of QTWO traded up $0.16 on Thursday, reaching $87.41. 341,640 shares of the company's stock were exchanged, compared to its average volume of 648,402. The business has a 50 day moving average price of $80.27 and a two-hundred day moving average price of $90.51. Q2 Holdings, Inc. has a 12 month low of $55.97 and a 12 month high of $112.82. The stock has a market capitalization of $5.45 billion, a P/E ratio of -134.48 and a beta of 1.47. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58.

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.