Virtu Financial LLC acquired a new position in shares of Quantenna Communications Inc (NASDAQ:QTNA) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,425 shares of the technology company’s stock, valued at approximately $692,000. Virtu Financial LLC owned approximately 0.07% of Quantenna Communications as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in shares of Quantenna Communications by 5.7% in the third quarter. Wells Fargo & Company MN now owns 241,483 shares of the technology company’s stock valued at $4,456,000 after buying an additional 13,012 shares during the last quarter. Alliancebernstein L.P. increased its position in Quantenna Communications by 17.0% in the third quarter. Alliancebernstein L.P. now owns 26,100 shares of the technology company’s stock worth $482,000 after purchasing an additional 3,800 shares during the period. Bank of New York Mellon Corp increased its position in Quantenna Communications by 5.3% in the third quarter. Bank of New York Mellon Corp now owns 178,972 shares of the technology company’s stock worth $3,303,000 after purchasing an additional 9,039 shares during the period. BlackRock Inc. lifted its holdings in shares of Quantenna Communications by 6.7% during the 3rd quarter. BlackRock Inc. now owns 2,190,741 shares of the technology company’s stock valued at $40,420,000 after purchasing an additional 137,214 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Quantenna Communications during the 3rd quarter worth approximately $6,532,000. Institutional investors own 65.64% of the company’s stock.
Shares of QTNA traded down $0.05 during trading hours on Friday, hitting $24.16. 531,557 shares of the company were exchanged, compared to its average volume of 569,608. The firm has a market cap of $933.23 million, a P/E ratio of 302.00, a price-to-earnings-growth ratio of 3.10 and a beta of 1.02. Quantenna Communications Inc has a fifty-two week low of $13.03 and a fifty-two week high of $24.48.
In other news, Chairman Sam Heidari sold 35,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $20.75, for a total transaction of $726,250.00. Following the sale, 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 legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 59,147 shares of company stock worth $1,186,756. 13.49% of the stock is currently owned by insiders.
QTNA has been the topic of a number of recent analyst reports. Zacks Investment Research raised Quantenna Communications from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, January 30th. BidaskClub raised Quantenna Communications from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Barclays lowered Quantenna Communications from an “equal weight” rating to an “underweight” rating in a report on Thursday, January 17th. TheStreet raised Quantenna Communications from a “d+” rating to a “c-” rating in a report on Monday, February 25th. Finally, Roth Capital reissued a “neutral” rating and set a $25.00 target price (up from $21.00) on shares of Quantenna Communications in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $21.52.
Quantenna Communications Profile
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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