Tidal Investments LLC Acquires 203,253 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Tidal Investments LLC grew its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 1,909.2% during the fourth quarter, Holdings Channel reports. The firm owned 213,899 shares of the technology company’s stock after purchasing an additional 203,253 shares during the period. Tidal Investments LLC’s holdings in Q2 were worth $21,529,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Highland Capital Management LLC raised its holdings in shares of Q2 by 6.6% during 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 grew its stake in Q2 by 1.1% in the 4th quarter. Arizona State Retirement System now owns 17,495 shares of the technology company’s stock valued at $1,761,000 after buying an additional 190 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in Q2 by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company’s stock valued at $620,000 after buying an additional 195 shares during the last quarter. Moran Wealth Management LLC grew its stake in Q2 by 2.7% in the 4th quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company’s stock valued at $817,000 after buying an additional 215 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in Q2 by 269.6% in the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company’s stock valued at $38,000 after buying an additional 275 shares during the last quarter.

Q2 Stock Performance

NYSE QTWO opened at $91.00 on Monday. 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 firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of -139.99 and a beta of 1.47. The company’s fifty day moving average is $79.20 and its two-hundred day moving average is $90.44. Q2 Holdings, Inc. has a 52-week low of $55.97 and a 52-week high of $112.82.

Insiders Place Their Bets

In other news, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the sale, the director now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael S. Kerr sold 397 shares of Q2 stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $92.90, for a total transaction of $36,881.30. Following the sale, the general counsel now owns 58,441 shares in the company, valued at approximately $5,429,168.90. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 194,255 shares of company stock worth $14,890,846 in the last ninety days. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

QTWO has been the topic of a number of research analyst reports. Raymond James lowered their target price 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. Truist Financial reiterated a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Needham & Company LLC lowered their target price on shares of Q2 from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Morgan Stanley raised their target price on shares of Q2 from $89.00 to $93.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Finally, Royal Bank of Canada lowered their target price 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. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Q2 presently has a consensus rating of “Moderate Buy” and an average price target of $98.80.

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.