262,077 Shares in Quantenna Comms (QTNA) Acquired by Point72 Europe London LLP
Point72 Europe London LLP acquired a new position in Quantenna Comms (NASDAQ:QTNA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 262,077 shares of the technology company’s stock, valued at approximately $4,979,000. Quantenna Comms accounts for about 1.2% of Point72 Europe London LLP’s portfolio, making the stock its 22nd largest position. Point72 Europe London LLP owned 0.76% of Quantenna Comms as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in QTNA. Creative Planning bought a new stake in Quantenna Comms in the second quarter worth about $102,000. Nationwide Fund Advisors raised its position in shares of Quantenna Comms by 537.5% in the second 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 period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Quantenna Comms in the first quarter valued at approximately $255,000. Swiss National Bank bought a new stake in shares of Quantenna Comms in the second quarter valued at approximately $262,000. Finally, Bank of Montreal Can bought a new stake in shares of Quantenna Comms in the second quarter valued at approximately $362,000. 38.53% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Lionel Bonnot sold 9,700 shares of Quantenna Comms stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $20.24, for a total transaction of $196,328.00. Following the sale, the senior vice president now owns 28,600 shares in the company, valued at $578,864. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Sam Heidari sold 2,800 shares of Quantenna Comms stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $16.88, for a total transaction of $47,264.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,099 shares of company stock worth $2,850,566. 22.62% of the stock is owned by company insiders.
QTNA has been the topic of several research reports. Barclays PLC lowered their price target on shares of Quantenna Comms from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 8th. Zacks Investment Research lowered shares of Quantenna Comms from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Quantenna Comms in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $23.83.
Quantenna Comms (QTNA) traded up 0.70% during mid-day trading on Friday, reaching $17.28. 36,755 shares of the company were exchanged. Quantenna Comms has a one year low of $13.75 and a one year high of $24.14. The stock has a 50 day moving average of $17.20 and a 200-day moving average of $17.20. The stock’s market capitalization is $598.41 million.
Quantenna Comms (NASDAQ:QTNA) last released its earnings results on Monday, August 7th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $47.10 million for the quarter, compared to the consensus estimate of $42.90 million. The business’s revenue for the quarter was up 42.7% on a year-over-year basis. On average, equities analysts expect that Quantenna Comms will post $0.27 earnings per share for the current fiscal year.
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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