Freestone Grove Partners LP Invests $645,000 in Q2 Holdings, Inc. (NYSE:QTWO)

Freestone Grove Partners LP acquired a new stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,412 shares of the technology company's stock, valued at approximately $645,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Highland Capital Management LLC increased its holdings in shares of Q2 by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company's stock valued at $279,000 after purchasing an additional 172 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Q2 by 1.1% during the 4th quarter. Arizona State Retirement System now owns 17,495 shares of the technology company's stock worth $1,761,000 after buying an additional 190 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Q2 by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company's stock worth $620,000 after buying an additional 195 shares in the last quarter. Moran Wealth Management LLC boosted its position in shares of Q2 by 2.7% in the 4th quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company's stock worth $817,000 after buying an additional 215 shares in the last quarter. 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 acquiring an additional 275 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on QTWO shares. Baird R W cut shares of Q2 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Morgan Stanley boosted their price target on Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a report on Thursday. Stifel Nicolaus increased their price objective on Q2 from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday. Truist Financial restated a "buy" rating and issued a $110.00 target price (up from $100.00) on shares of Q2 in a report on Thursday, February 13th. Finally, Citigroup lifted their price target on shares of Q2 from $96.00 to $100.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.80.

Q2 Stock Down 1.0 %

NYSE QTWO traded down $0.92 during trading hours on Friday, hitting $89.87. The company had a trading volume of 309,336 shares, compared to its average volume of 641,271. The firm's 50 day moving average is $77.45 and its 200 day moving average is $90.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. Q2 Holdings, Inc. has a fifty-two week low of $55.97 and a fifty-two week high of $112.82. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of -138.26 and a beta of 1.47.

Q2 (NYSE:QTWO - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. Sell-side analysts anticipate that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Q2

In other Q2 news, Director James Offerdahl sold 1,000 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the completion of the transaction, the director now owns 17,241 shares in the company, valued at approximately $1,516,518.36. The trade was a 5.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total value of $493,342.72. Following the transaction, the insider now directly owns 113,278 shares in the company, valued at $8,396,165.36. This trade represents a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 193,858 shares of company stock valued at $14,853,965 in the last ninety days. Insiders own 3.00% 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.