Elk Creek Partners LLC Decreases Holdings in Quantenna Communications Inc (QTNA)

Elk Creek Partners LLC lessened its stake in shares of Quantenna Communications Inc (NASDAQ:QTNA) by 7.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 565,820 shares of the technology company’s stock after selling 46,792 shares during the period. Elk Creek Partners LLC owned about 1.51% of Quantenna Communications worth $10,439,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in QTNA. BlueMountain Capital Management LLC purchased a new stake in shares of Quantenna Communications in the second quarter valued at $185,000. Quantum Capital Management increased its stake in shares of Quantenna Communications by 11.6% in the second quarter. Quantum Capital Management now owns 164,289 shares of the technology company’s stock worth $2,553,000 after acquiring an additional 17,132 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Quantenna Communications by 432.5% in the second quarter. Renaissance Technologies LLC now owns 294,500 shares of the technology company’s stock worth $4,577,000 after acquiring an additional 239,200 shares during the last quarter. Manatuck Hill Partners LLC acquired a new position in shares of Quantenna Communications in the second quarter worth $1,664,000. Finally, Marathon Capital Management increased its stake in shares of Quantenna Communications by 3.8% in the second quarter. Marathon Capital Management now owns 153,972 shares of the technology company’s stock worth $2,392,000 after acquiring an additional 5,672 shares during the last quarter. Institutional investors own 62.86% of the company’s stock.

In other news, Chairman Sam Heidari sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $19.00, for a total value of $190,000.00. Following the sale, the chairman now directly owns 172,367 shares of the company’s stock, valued at $3,274,973. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP David William Carroll sold 10,689 shares of the stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $16.73, for a total transaction of $178,826.97. Following the completion of the sale, the senior vice president now owns 72,022 shares of the company’s stock, valued at approximately $1,204,928.06. The disclosure for this sale can be found here. Insiders have sold 368,078 shares of company stock worth $6,516,532 over the last three months. Company insiders own 13.49% of the company’s stock.

Quantenna Communications stock opened at $15.23 on Friday. The firm has a market cap of $569.52 million, a price-to-earnings ratio of -761.50, a price-to-earnings-growth ratio of 7.01 and a beta of 1.33. Quantenna Communications Inc has a one year low of $10.16 and a one year high of $19.41.

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

A number of equities analysts have recently weighed in on QTNA shares. Stifel Nicolaus upped their price target on shares of Quantenna Communications from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, September 4th. Roth Capital upped their price target on shares of Quantenna Communications from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, September 5th. BidaskClub downgraded shares of Quantenna Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Needham & Company LLC upped their price target on shares of Quantenna Communications from $20.00 to $23.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 5th. Finally, Morgan Stanley upped their price target on shares of Quantenna Communications from $15.50 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Quantenna Communications has a consensus rating of “Buy” and an average price target of $19.80.

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About Quantenna Communications

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

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