Venturi Wealth Management LLC Sells 68,760 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Venturi Wealth Management LLC lowered its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 24.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 211,787 shares of the technology company's stock after selling 68,760 shares during the quarter. Q2 comprises about 0.9% of Venturi Wealth Management LLC's portfolio, making the stock its 26th biggest holding. Venturi Wealth Management LLC owned about 0.34% of Q2 worth $16,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Homestead Advisers Corp increased its stake in shares of Q2 by 15.4% during the first quarter. Homestead Advisers Corp now owns 62,300 shares of the technology company's stock worth $4,985,000 after buying an additional 8,300 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Q2 during the first quarter worth approximately $2,864,000. Y Intercept Hong Kong Ltd purchased a new position in Q2 in the first quarter valued at approximately $216,000. Allianz Asset Management GmbH purchased a new position in Q2 in the first quarter valued at approximately $10,397,000. Finally, Jennison Associates LLC increased its stake in Q2 by 3.3% in the first quarter. Jennison Associates LLC now owns 1,301,772 shares of the technology company's stock valued at $104,155,000 after purchasing an additional 41,412 shares during the last quarter.

Q2 Stock Performance

NYSE:QTWO traded down $0.18 during mid-day trading on Friday, hitting $89.23. 336,527 shares of the company's stock traded hands, compared to its average volume of 658,345. The firm has a 50 day moving average of $90.26 and a two-hundred day moving average of $86.54. Q2 Holdings, Inc. has a 12 month low of $61.51 and a 12 month high of $112.82. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of -254.94 and a beta of 1.48. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.55.

Insiders Place Their Bets

In related news, General Counsel Michael S. Kerr sold 397 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total transaction of $36,881.30. Following the completion of the transaction, the general counsel owned 58,441 shares in the company, valued at $5,429,168.90. This trade represents a 0.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total value of $87,770.00. Following the transaction, the director owned 16,241 shares of the company's stock, valued at $1,425,472.57. This trade represents a 5.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,991 shares of company stock worth $357,153. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on QTWO shares. Raymond James Financial dropped 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. Royal Bank Of Canada dropped their price target on shares of Q2 from $108.00 to $101.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Cantor Fitzgerald assumed coverage on shares of Q2 in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Q2 in a report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price objective for the company. Finally, Robert W. Baird increased their price objective on Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $100.41.

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.