Bank of America Corp DE Acquires 35,066 Shares of Quotient Technology Inc. (NYSE:QUOT)
Bank of America Corp DE raised its position in Quotient Technology Inc. (NYSE:QUOT) by 16.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 248,645 shares of the technology company’s stock after buying an additional 35,066 shares during the period. Bank of America Corp DE’s holdings in Quotient Technology were worth $2,375,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Quotient Technology by 6.7% in the first quarter. Vanguard Group Inc. now owns 5,310,581 shares of the technology company’s stock worth $50,715,000 after buying an additional 333,983 shares during the period. Granite Investment Partners LLC boosted its position in shares of Quotient Technology by 14.0% in the first quarter. Granite Investment Partners LLC now owns 1,481,111 shares of the technology company’s stock worth $14,145,000 after buying an additional 182,094 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Quotient Technology by 43.3% in the first quarter. Loomis Sayles & Co. L P now owns 1,286,861 shares of the technology company’s stock worth $12,290,000 after buying an additional 388,871 shares in the last quarter. State Street Corp boosted its position in shares of Quotient Technology by 4.6% in the fourth quarter. State Street Corp now owns 1,129,044 shares of the technology company’s stock worth $12,136,000 after buying an additional 50,164 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of Quotient Technology by 0.7% in the fourth quarter. Macquarie Group Ltd. now owns 973,609 shares of the technology company’s stock worth $10,466,000 after buying an additional 6,702 shares in the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.
Quotient Technology Inc. (NYSE QUOT) traded up 1.08% on Friday, hitting $14.00. 49,401 shares of the stock traded hands. Quotient Technology Inc. has a 1-year low of $9.10 and a 1-year high of $14.36. The stock has a 50-day moving average price of $11.99 and a 200 day moving average price of $11.27. The company’s market cap is $1.29 billion.
Quotient Technology (NYSE:QUOT) last posted its quarterly earnings results on Tuesday, August 1st. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $74.49 million during the quarter, compared to the consensus estimate of $73.72 million. Quotient Technology had a negative net margin of 5.61% and a negative return on equity of 2.92%. Quotient Technology’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.04) EPS. On average, analysts anticipate that Quotient Technology Inc. will post $0.25 EPS for the current fiscal year.
Quotient Technology announced that its board has approved a share buyback program on Tuesday, May 2nd that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 4.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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QUOT has been the subject of a number of analyst reports. Bank of America Corporation upgraded shares of Quotient Technology from a “neutral” rating to a “buy” rating in a report on Monday, April 17th. TheStreet cut shares of Quotient Technology from a “c” rating to a “d+” rating in a report on Tuesday, May 2nd. BidaskClub cut shares of Quotient Technology from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Maxim Group restated a “buy” rating and set a $15.00 price objective on shares of Quotient Technology in a report on Wednesday, May 3rd. Finally, Wedbush restated an “outperform” rating and set a $16.00 price objective on shares of Quotient Technology in a report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $15.57.
In other news, Director Dawn G. Lepore sold 14,924 shares of Quotient Technology stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $12.92, for a total transaction of $192,818.08. Following the sale, the director now directly owns 85,873 shares in the company, valued at approximately $1,109,479.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew J. Gessow bought 4,618 shares of the stock in a transaction dated Friday, May 26th. The shares were acquired at an average price of $11.10 per share, for a total transaction of $51,259.80. The disclosure for this purchase can be found here. Insiders have sold a total of 515,724 shares of company stock worth $6,086,752 over the last ninety days. Insiders own 11.99% of the company’s stock.
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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