Verition Fund Management LLC purchased a new position in Quantenna Comms (NASDAQ:QTNA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 29,000 shares of the technology company’s stock, valued at approximately $551,000. Verition Fund Management LLC owned approximately 0.08% of Quantenna Comms at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC raised its holdings in Quantenna Comms by 88.1% during the 2nd quarter. FMR LLC now owns 984,434 shares of the technology company’s stock valued at $18,704,000 after buying an additional 461,023 shares during the period. Vanguard Group Inc. raised its holdings in Quantenna Comms by 90.8% during the 2nd quarter. Vanguard Group Inc. now owns 611,732 shares of the technology company’s stock valued at $11,622,000 after buying an additional 291,167 shares during the period. Wellington Management Group LLP grew its position in Quantenna Comms by 60.4% in the 1st quarter. Wellington Management Group LLP now owns 457,255 shares of the technology company’s stock valued at $9,524,000 after acquiring an additional 172,236 shares during the last quarter. Driehaus Capital Management LLC grew its position in Quantenna Comms by 7.8% in the 1st quarter. Driehaus Capital Management LLC now owns 327,382 shares of the technology company’s stock valued at $6,819,000 after acquiring an additional 23,634 shares during the last quarter. Finally, State Street Corp grew its position in Quantenna Comms by 248.7% in the 2nd quarter. State Street Corp now owns 317,479 shares of the technology company’s stock valued at $6,033,000 after acquiring an additional 226,425 shares during the last quarter. 38.48% of the stock is currently owned by institutional investors and hedge funds.
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Several equities analysts have commented on QTNA shares. Zacks Investment Research downgraded Quantenna Comms from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Barclays PLC reaffirmed an “overweight” rating on shares of Quantenna Comms in a research report on Friday, July 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Quantenna Comms in a research report on Tuesday, August 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $23.83.
Quantenna Comms (NASDAQ:QTNA) traded up 0.361% during midday trading on Friday, reaching $15.275. The company’s stock had a trading volume of 9,086 shares. The stock’s 50-day moving average price is $16.88 and its 200 day moving average price is $16.88. The firm’s market capitalization is $528.97 million. Quantenna Comms has a 1-year low of $13.75 and a 1-year high of $24.14.
Quantenna Comms (NASDAQ:QTNA) last announced its earnings results on Monday, August 7th. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $47.10 million for the quarter, compared to analyst estimates of $42.90 million. The business’s revenue was up 42.7% compared to the same quarter last year. Equities analysts anticipate that Quantenna Comms will post $0.27 EPS for the current fiscal year.
In other news, Chairman Sam Heidari sold 8,400 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $20.19, for a total transaction of $169,596.00. Following the completion of the sale, the chairman now directly owns 77,100 shares in the company, valued at $1,556,649. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sean Sobers sold 4,966 shares of Quantenna Comms stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $19.29, for a total value of $95,794.14. The disclosure for this sale can be found here. Insiders have sold 156,199 shares of company stock valued at $2,780,928 over the last 90 days. Insiders own 22.62% of the company’s stock.
Quantenna Comms Profile
Quantenna Communications, Inc is engaged in the design, development and marketing of wireless communication solutions enabling wireless local area networking. The Company’s solutions are designed to deliver wireless fidelity (Wi-Fi) performance to support various connected devices accessing a pool of digital content.
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