Tensile Capital Management LP Sells 6,000 Shares of Q2 Holdings, Inc. $QTWO

Key Points

• Tensile Capital Management LP has decreased its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 0.7%, now owning 861,767 shares worth approximately $68.95 million.
• The share price of Q2 Holdings has changed, currently listed at $78.91, with a 12-month range between $63.61 and $112.82.
• Analysts have mixed ratings on Q2 stock, with an average rating of "Moderate Buy" and a consensus price target of $102.25.

Tensile Capital Management LP trimmed its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 0.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 861,767 shares of the technology company's stock after selling 6,000 shares during the period. Q2 makes up about 8.8% of Tensile Capital Management LP's holdings, making the stock its 4th largest holding. Tensile Capital Management LP owned approximately 1.38% of Q2 worth $68,950,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Q2 by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,033 shares of the technology company's stock worth $2,803,000 after buying an additional 1,525 shares during the period. Curi RMB Capital LLC boosted its position in shares of Q2 by 32.9% during the first quarter. Curi RMB Capital LLC now owns 104,503 shares of the technology company's stock worth $8,361,000 after buying an additional 25,847 shares during the period. Advisors Asset Management Inc. boosted its holdings in Q2 by 35.0% in the first quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company's stock valued at $68,000 after purchasing an additional 220 shares during the period. EP Wealth Advisors LLC boosted its holdings in Q2 by 27.7% in the first quarter. EP Wealth Advisors LLC now owns 9,219 shares of the technology company's stock valued at $738,000 after purchasing an additional 2,000 shares during the period. Finally, PDT Partners LLC boosted its holdings in Q2 by 1,524.2% in the first quarter. PDT Partners LLC now owns 57,010 shares of the technology company's stock valued at $4,561,000 after purchasing an additional 53,500 shares during the period.

Q2 Price Performance

QTWO traded up $0.19 during trading on Tuesday, hitting $84.23. The company's stock had a trading volume of 1,201,709 shares, compared to its average volume of 861,822. The stock has a market cap of $5.26 billion, a PE ratio of 1,684.94 and a beta of 1.49. The firm's 50 day moving average price is $83.12 and its 200-day moving average price is $83.03. Q2 Holdings, Inc. has a twelve month low of $63.61 and a twelve month high of $112.82.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on QTWO shares. Cantor Fitzgerald initiated coverage on Q2 in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 target price for the company. 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, July 31st. Royal Bank Of Canada raised their price target on Q2 from $101.00 to $102.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. began coverage on Q2 in a research note on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price target on the stock. Finally, Zacks Research upgraded Q2 to a "strong-buy" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $102.25.

Insider Buying and Selling

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $88.88, for a total value of $126,920.64. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. Also, Director James Offerdahl sold 786 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total transaction of $58,281.90. Following the completion of the transaction, the director directly owned 17,792 shares of the company's stock, valued at approximately $1,319,276.80. The trade was a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,319 shares of company stock valued at $644,726. Company insiders own 3.00% of the company's stock.

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.