Hood River Capital Management LLC Has $93.80 Million Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Hood River Capital Management LLC lessened its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 35.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 931,939 shares of the technology company's stock after selling 513,437 shares during the quarter. Q2 makes up approximately 1.4% of Hood River Capital Management LLC's investment portfolio, making the stock its 18th largest position. Hood River Capital Management LLC owned approximately 1.54% of Q2 worth $93,800,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Proficio Capital Partners LLC acquired a new position in shares of Q2 during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Q2 in the fourth quarter valued at $30,000. TCTC Holdings LLC bought a new position in shares of Q2 in the fourth quarter valued at about $30,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of Q2 during the 4th quarter worth about $32,000. Finally, NewEdge Advisors LLC lifted its stake in shares of Q2 by 269.6% during the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock worth $38,000 after buying an additional 275 shares during the last quarter.

Insider Buying and Selling

In other Q2 news, insider Kimberly Anne Rutledge sold 6,656 shares of Q2 stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total transaction of $493,342.72. Following the transaction, the insider now directly owns 113,278 shares of the company's stock, valued at approximately $8,396,165.36. The trade was a 5.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Offerdahl sold 1,000 shares of the 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 directly 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 position. The disclosure for this sale can be found here. Insiders have sold 193,858 shares of company stock worth $14,853,965 in the last 90 days. Insiders own 3.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on QTWO shares. Compass Point reissued a "neutral" rating and issued a $60.00 price target on shares of Q2 in a report on Monday, April 7th. Needham & Company LLC increased their target price on Q2 from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Truist Financial restated a "buy" rating and issued a $110.00 price target (up from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Raymond James increased their price objective on Q2 from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group reduced their target price on shares of Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Q2 has a consensus rating of "Moderate Buy" and an average target price of $102.33.

Q2 Price Performance

Shares of QTWO stock traded down $0.93 on Monday, hitting $78.19. 102,581 shares of the company's stock were exchanged, compared to its average volume of 650,700. Q2 Holdings, Inc. has a 12 month low of $50.91 and a 12 month high of $112.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. The company has a 50 day moving average of $78.55 and a 200 day moving average of $90.26. The stock has a market cap of $4.87 billion, a P/E ratio of -120.21 and a beta of 1.61.

Q2 (NYSE:QTWO - Get Free Report) last posted 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 negative net margin of 5.53% and a positive return on equity of 0.85%. On average, equities research analysts predict that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

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.