Insider Selling: Quantenna Communications Inc (QTNA) Chairman Sells 8,000 Shares of Stock

Quantenna Communications Inc (NASDAQ:QTNA) Chairman Sam Heidari sold 8,000 shares of the firm’s stock in a transaction on Friday, January 11th. The shares were sold at an average price of $16.02, for a total transaction of $128,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sam Heidari also recently made the following trade(s):

  • On Tuesday, January 8th, Sam Heidari sold 15,000 shares of Quantenna Communications stock. The shares were sold at an average price of $15.00, for a total transaction of $225,000.00.

Quantenna Communications stock traded up $0.42 during midday trading on Friday, hitting $16.08. 320,200 shares of the stock were exchanged, compared to its average volume of 300,763. Quantenna Communications Inc has a 1 year low of $12.19 and a 1 year high of $19.41. The company has a market capitalization of $568.03 million, a price-to-earnings ratio of -804.00, a price-to-earnings-growth ratio of 0.87 and a beta of 0.94.

Quantenna Communications (NASDAQ:QTNA) last released its quarterly earnings results on Monday, October 29th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Quantenna Communications had a net margin of 17.07% and a return on equity of 3.65%. The firm had revenue of $59.30 million for the quarter, compared to the consensus estimate of $58.06 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. As a group, sell-side analysts predict that Quantenna Communications Inc will post 0.11 earnings per share for the current year.

A number of brokerages have recently commented on QTNA. BidaskClub raised shares of Quantenna Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, December 18th. TheStreet downgraded shares of Quantenna Communications from a “c-” rating to a “d+” rating in a research note on Monday, December 17th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Quantenna Communications has a consensus rating of “Buy” and a consensus target price of $19.80.

Institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. purchased a new stake in Quantenna Communications during the 2nd quarter worth $159,000. Metropolitan Life Insurance Co. NY grew its holdings in Quantenna Communications by 48.9% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,207 shares of the technology company’s stock worth $174,000 after acquiring an additional 3,681 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in Quantenna Communications during the 2nd quarter worth $185,000. Voya Investment Management LLC acquired a new position in Quantenna Communications during the 2nd quarter worth $192,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in Quantenna Communications during the 2nd quarter worth $195,000. 62.89% of the stock is currently owned by hedge funds and other institutional investors.

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Quantenna Communications Company Profile

Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the United States and internationally. The company's solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and draft 802.11ax.

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