Quotient Technology Inc. (NYSE:QUOT) Position Boosted by Vanguard Group Inc.
Vanguard Group Inc. increased its stake in shares of Quotient Technology Inc. (NYSE:QUOT) by 6.7% during the first quarter, Holdings Channel reports. The institutional investor owned 5,310,581 shares of the technology company’s stock after buying an additional 333,983 shares during the period. Vanguard Group Inc. owned approximately 0.06% of Quotient Technology worth $50,715,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of QUOT. Russell Investments Group Ltd. acquired a new stake in Quotient Technology during the fourth quarter valued at $518,000. State Street Corp raised its stake in Quotient Technology by 4.6% in the fourth quarter. State Street Corp now owns 1,129,044 shares of the technology company’s stock valued at $12,136,000 after buying an additional 50,164 shares during the last quarter. AQR Capital Management LLC raised its stake in Quotient Technology by 53.4% in the fourth quarter. AQR Capital Management LLC now owns 35,130 shares of the technology company’s stock valued at $378,000 after buying an additional 12,225 shares during the last quarter. Teachers Advisors LLC raised its stake in Quotient Technology by 12.7% in the fourth quarter. Teachers Advisors LLC now owns 206,432 shares of the technology company’s stock valued at $2,219,000 after buying an additional 23,306 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in Quotient Technology by 0.7% in the fourth quarter. Macquarie Group Ltd. now owns 973,609 shares of the technology company’s stock valued at $10,466,000 after buying an additional 6,702 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.
Quotient Technology Inc. (NYSE QUOT) opened at 14.00 on Thursday. The company’s market cap is $1.29 billion. Quotient Technology Inc. has a 52-week low of $9.10 and a 52-week high of $14.36. The stock’s 50 day moving average is $11.92 and its 200 day moving average is $11.25.
Quotient Technology (NYSE:QUOT) last issued its earnings results on Tuesday, August 1st. The technology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.03. The firm had revenue of $74.49 million during the quarter, compared to analysts’ expectations of $73.72 million. Quotient Technology had a negative return on equity of 2.92% and a negative net margin of 5.61%. Quotient Technology’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business earned ($0.04) earnings per share. On average, analysts predict that Quotient Technology Inc. will post $0.25 earnings per share for the current fiscal year.
Quotient Technology declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 2nd that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 4.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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QUOT has been the subject of several recent research reports. Bank of America Corporation upgraded shares of Quotient Technology from a “neutral” rating to a “buy” rating in a research note on Monday, April 17th. Royal Bank Of Canada reiterated a “buy” rating and set a $17.00 target price on shares of Quotient Technology in a research note on Friday, April 21st. Maxim Group set a $15.00 target price on shares of Quotient Technology and gave the company a “buy” rating in a research note on Tuesday, April 25th. Wedbush reiterated an “outperform” rating and set a $16.00 target price on shares of Quotient Technology in a research note on Wednesday, May 3rd. Finally, TheStreet lowered shares of Quotient Technology from a “c” rating to a “d+” rating in a research note on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $15.57.
In other Quotient Technology news, CEO Steven R. Boal sold 35,211 shares of Quotient Technology stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $11.12, for a total transaction of $391,546.32. Following the completion of the transaction, the chief executive officer now directly owns 1,204,034 shares of the company’s stock, valued at $13,388,858.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew J. Gessow acquired 4,618 shares of the business’s stock in a transaction on Friday, May 26th. The shares were bought at an average cost of $11.10 per share, with a total value of $51,259.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 515,724 shares of company stock valued at $6,086,752. 11.99% of the stock is owned by company insiders.
Quotient Technology Company Profile
Quotient Technology Inc is a provider of digital platform that enables consumer packaged goods (CPG) brands and retailers to engage shoppers through personalized and targeted promotions and media. Through the Company’s platform, CPGs and retailers are able to use online and in-store point-of-sale (POS) shopper data and analytics.
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