BlackRock Inc. lifted its holdings in shares of Quantenna Communications Inc (NASDAQ:QTNA) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,252,719 shares of the technology company’s stock after buying an additional 61,978 shares during the period. BlackRock Inc. owned about 6.02% of Quantenna Communications worth $32,326,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of QTNA. Quantamental Technologies LLC purchased a new position in shares of Quantenna Communications during the 4th quarter worth approximately $69,000. Horrell Capital Management Inc. raised its stake in shares of Quantenna Communications by 568.7% during the 4th quarter. Horrell Capital Management Inc. now owns 5,015 shares of the technology company’s stock worth $72,000 after buying an additional 4,265 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Quantenna Communications by 105.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,542 shares of the technology company’s stock worth $79,000 after buying an additional 2,845 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Quantenna Communications by 11,611.4% during the 4th quarter. Meeder Asset Management Inc. now owns 12,297 shares of the technology company’s stock worth $177,000 after buying an additional 12,192 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new position in shares of Quantenna Communications during the 3rd quarter worth approximately $202,000. 66.10% of the stock is owned by institutional investors and hedge funds.

NASDAQ QTNA opened at $24.12 on Wednesday. Quantenna Communications Inc has a 1-year low of $12.48 and a 1-year high of $24.35. The company has a market capitalization of $923.60 million, a P/E ratio of 301.50, a PEG ratio of 3.23 and a beta of 1.05.

Quantenna Communications (NASDAQ:QTNA) last released its quarterly earnings data on Monday, February 4th. The technology company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Quantenna Communications had a return on equity of 6.63% and a net margin of 1.40%. The firm had revenue of $62.60 million during the quarter, compared to the consensus estimate of $62.00 million. During the same period last year, the business posted $0.01 EPS. Quantenna Communications’s quarterly revenue was up 51.6% on a year-over-year basis. As a group, equities analysts predict that Quantenna Communications Inc will post 0.37 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on QTNA. Needham & Company LLC downgraded Quantenna Communications from a “strong-buy” rating to a “hold” rating and set a $24.19 target price for the company. in a research note on Thursday, March 28th. Morgan Stanley downgraded Quantenna Communications from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $18.00 to $24.50 in a research note on Thursday, March 28th. Barclays raised Quantenna Communications from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $14.00 to $24.00 in a research note on Thursday, March 28th. Stifel Nicolaus downgraded Quantenna Communications from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Finally, Dougherty & Co downgraded Quantenna Communications from a “buy” rating to a “neutral” rating in a research note on Thursday, March 28th. Eight research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $21.52.

In related news, CEO Sam Heidari sold 2,147 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $17.93, for a total value of $38,495.71. Following the completion of the transaction, the chief executive officer now directly owns 325,478 shares of the company’s stock, valued at approximately $5,835,820.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David William Carroll sold 39,083 shares of the firm’s stock in a transaction that occurred on Friday, January 11th. The shares were sold at an average price of $15.50, for a total value of $605,786.50. Following the completion of the transaction, the senior vice president now directly owns 60,370 shares of the company’s stock, valued at $935,735. The disclosure for this sale can be found here. Insiders sold a total of 122,636 shares of company stock valued at $2,150,386 over the last ninety days. 13.49% of the stock is currently owned by company insiders.

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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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Institutional Ownership by Quarter for Quantenna Communications (NASDAQ:QTNA)

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