Quantenna Comms (NASDAQ:QTNA) Shares Down 7% on Insider Selling

Shares of Quantenna Comms (NASDAQ:QTNA) traded down 7% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $18.00 and last traded at $18.01, with a volume of 864,195 shares. The stock had previously closed at $19.37.

Specifically, CFO Sean Sobers sold 4,966 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $19.29, for a total value of $95,794.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP David William Carroll sold 1,500 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $20.00, for a total value of $30,000.00. Following the completion of the sale, the senior vice president now directly owns 40,100 shares of the company’s stock, valued at $802,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,174,977 shares of company stock valued at $43,216,069. 22.62% of the stock is owned by corporate insiders.

Several research firms have recently commented on QTNA. Zacks Investment Research raised Quantenna Comms from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Tuesday, July 11th. Needham & Company LLC reaffirmed a “buy” rating on shares of Quantenna Comms in a report on Tuesday, August 8th. Finally, Barclays PLC reaffirmed an “overweight” rating on shares of Quantenna Comms in a report on Friday, July 21st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.83.

The company’s 50-day moving average is $19.00 and its 200-day moving average is $19.90. The company’s market capitalization is $577.63 million.

Quantenna Comms (NASDAQ:QTNA) last posted its quarterly earnings data on Monday, August 7th. The technology company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The firm had revenue of $47.10 million for the quarter, compared to analyst estimates of $42.90 million. The firm’s revenue for the quarter was up 42.7% compared to the same quarter last year. On average, equities research analysts predict that Quantenna Comms will post $0.27 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Creative Planning bought a new stake in shares of Quantenna Comms during the second quarter worth $102,000. Norges Bank bought a new stake in shares of Quantenna Comms during the fourth quarter worth $181,000. Nationwide Fund Advisors raised its stake 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 worth $227,000 after buying an additional 10,095 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Quantenna Comms during the first quarter worth $255,000. Finally, Swiss National Bank bought a new stake in shares of Quantenna Comms during the second quarter worth $262,000. 30.80% of the stock is owned by institutional investors and hedge funds.

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Quantenna Comms Company 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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