Barclays PLC cut its stake in Quantenna Communications Inc (NASDAQ:QTNA) by 45.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,012 shares of the technology company’s stock after selling 26,997 shares during the period. Barclays PLC owned about 0.09% of Quantenna Communications worth $460,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Summit Global Investments boosted its position in Quantenna Communications by 3.2% during the fourth quarter. Summit Global Investments now owns 44,900 shares of the technology company’s stock valued at $644,000 after buying an additional 1,400 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Quantenna Communications by 105.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,542 shares of the technology company’s stock valued at $79,000 after acquiring an additional 2,845 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Quantenna Communications by 17.0% during the third quarter. Alliancebernstein L.P. now owns 26,100 shares of the technology company’s stock valued at $482,000 after acquiring an additional 3,800 shares during the last quarter. Horrell Capital Management Inc. raised its stake in shares of Quantenna Communications by 568.7% during the fourth quarter. Horrell Capital Management Inc. now owns 5,015 shares of the technology company’s stock valued at $72,000 after acquiring an additional 4,265 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new position in shares of Quantenna Communications during the fourth quarter valued at about $69,000. Institutional investors and hedge funds own 66.10% of the company’s stock.
In related news, Chairman Sam Heidari sold 35,000 shares of Quantenna Communications stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $20.75, for a total transaction of $726,250.00. Following the completion of the transaction, the chairman now directly owns 340,536 shares of the company’s stock, valued at approximately $7,066,122. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 59,147 shares of company stock valued at $1,186,756. 13.49% of the stock is owned by corporate insiders.
Quantenna Communications (NASDAQ:QTNA) last issued its quarterly earnings data on Monday, February 4th. The technology company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Quantenna Communications had a net margin of 1.40% and a return on equity of 6.63%. The business had revenue of $62.60 million during the quarter, compared to analysts’ expectations of $62.00 million. During the same period last year, the company posted $0.01 EPS. The business’s revenue was up 51.6% on a year-over-year basis. As a group, equities analysts expect that Quantenna Communications Inc will post 0.37 earnings per share for the current year.
A number of research firms recently issued reports on QTNA. Roth Capital reissued a “neutral” rating and issued a $25.00 price target (up from $21.00) on shares of Quantenna Communications in a research note on Thursday, March 28th. Dougherty & Co downgraded shares of Quantenna Communications from a “buy” rating to a “neutral” rating in a research note on Thursday, March 28th. Stifel Nicolaus downgraded shares of Quantenna Communications from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Needham & Company LLC downgraded shares of Quantenna Communications from a “strong-buy” rating to a “hold” rating and set a $24.19 price target for the company. in a research note on Thursday, March 28th. Finally, Morgan Stanley downgraded shares of Quantenna Communications from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $18.00 to $24.50 in a research note on Thursday, March 28th. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $21.52.
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About Quantenna Communications
Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the Asia-Pacific, Europe, the Middle East, Africa, and the Americas. Its solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and the draft Wi-Fi 6 standard.
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