Thrivent Financial for Lutherans Sells 8,040 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Thrivent Financial for Lutherans lessened its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 11.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,640 shares of the technology company’s stock after selling 8,040 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Q2 were worth $5,156,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of Q2 by 54.2% in the second quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after purchasing an additional 169 shares in the last quarter. International Assets Investment Management LLC lifted its position in Q2 by 7,878.3% during the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock valued at $146,000 after purchasing an additional 1,812 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Q2 by 108.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock worth $148,000 after buying an additional 964 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Q2 in the 2nd quarter worth about $153,000. Finally, Highland Capital Management LLC purchased a new stake in shares of Q2 during the 3rd quarter valued at about $208,000.

Q2 Price Performance

Q2 stock opened at $106.37 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of -110.86 and a beta of 1.58. The firm has a 50-day moving average of $86.05 and a two-hundred day moving average of $72.63. Q2 Holdings, Inc. has a 1 year low of $34.59 and a 1 year high of $106.53.

Analysts Set New Price Targets

Several equities research analysts have weighed in on QTWO shares. DA Davidson boosted their price objective on Q2 from $76.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Needham & Company LLC boosted their target price on Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Sandler raised their price target on Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Stephens boosted their price objective on shares of Q2 from $75.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Citigroup lowered shares of Q2 from a “buy” rating to a “neutral” rating and raised their target price for the stock from $72.00 to $90.00 in a report on Friday, October 18th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Q2 currently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Insider Activity

In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the transaction, the general counsel now directly owns 61,130 shares in the company, valued at $4,331,671.80. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Offerdahl sold 1,013 shares of Q2 stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total value of $74,931.61. Following the sale, the director now directly owns 18,789 shares of the company’s stock, valued at approximately $1,389,822.33. This trade represents a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,963 shares of company stock valued at $2,321,659. Corporate 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.