Vanguard Group Inc. increased its stake in Quantenna Communications Inc (NASDAQ:QTNA) by 90.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 611,732 shares of the technology company’s stock after buying an additional 291,167 shares during the quarter. Vanguard Group Inc. owned approximately 1.82% of Quantenna Communications worth $11,622,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QTNA. Bank of New York Mellon Corp lifted its holdings in Quantenna Communications by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 60,662 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 2,035 shares during the last quarter. Creative Planning acquired a new stake in Quantenna Communications during the 2nd quarter valued at $102,000. Pier Capital LLC lifted its holdings in Quantenna Communications by 2.8% during the 2nd quarter. Pier Capital LLC now owns 216,656 shares of the technology company’s stock valued at $4,116,000 after purchasing an additional 5,968 shares during the last quarter. Nationwide Fund Advisors lifted its holdings in Quantenna Communications by 537.5% during the 2nd quarter. Nationwide Fund Advisors now owns 11,973 shares of the technology company’s stock valued at $227,000 after purchasing an additional 10,095 shares during the last quarter. Finally, Swiss National Bank acquired a new stake in Quantenna Communications during the 2nd quarter valued at $262,000. 37.84% of the stock is owned by institutional investors.
In related news, SVP Lionel Bonnot sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $17.61, for a total value of $149,685.00. Following the sale, the senior vice president now directly owns 25,684 shares of the company’s stock, valued at $452,295.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Sam Heidari sold 2,800 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $16.88, for a total value of $47,264.00. The disclosure for this sale can be found here. Insiders sold 105,699 shares of company stock worth $1,627,054 over the last ninety days. 22.62% of the stock is currently owned by insiders.
Several research analysts have weighed in on QTNA shares. Barclays cut Quantenna Communications to an “equal weight” rating in a research report on Tuesday, November 7th. Needham & Company LLC lowered their price objective on Quantenna Communications from $26.00 to $20.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 7th. ValuEngine cut Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Roth Capital lowered their price objective on Quantenna Communications from $27.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. Finally, Zacks Investment Research cut Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $20.00.
Shares of Quantenna Communications Inc (NASDAQ:QTNA) traded down $0.06 during midday trading on Thursday, hitting $11.76. The company had a trading volume of 311,443 shares, compared to its average volume of 340,484. The company has a quick ratio of 3.51, a current ratio of 4.06 and a debt-to-equity ratio of 0.01. Quantenna Communications Inc has a 52 week low of $9.60 and a 52 week high of $25.45. The company has a market capitalization of $416.66, a PE ratio of 118.30 and a beta of 3.75.
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Quantenna Communications 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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