Senvest Management LLC Invests $30.62 Million in Quotient Technology Inc. (QUOT)
Senvest Management LLC bought a new position in shares of Quotient Technology Inc. (NYSE:QUOT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,662,567 shares of the technology company’s stock, valued at approximately $30,620,000. Quotient Technology accounts for 2.4% of Senvest Management LLC’s portfolio, making the stock its 15th largest position. Senvest Management LLC owned about 2.95% of Quotient Technology at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Suntrust Banks Inc. grew its holdings in shares of Quotient Technology by 6.5% during the 2nd quarter. Suntrust Banks Inc. now owns 28,220 shares of the technology company’s stock worth $323,000 after acquiring an additional 1,710 shares during the period. Vanguard Group Inc. grew its stake in shares of Quotient Technology by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,688,612 shares of the technology company’s stock worth $65,419,000 after buying an additional 378,031 shares during the last quarter. Northern Trust Corp grew its stake in shares of Quotient Technology by 9.6% in the 2nd quarter. Northern Trust Corp now owns 1,007,786 shares of the technology company’s stock worth $11,590,000 after buying an additional 88,652 shares during the last quarter. GSA Capital Partners LLP grew its stake in shares of Quotient Technology by 64.8% in the 2nd quarter. GSA Capital Partners LLP now owns 85,868 shares of the technology company’s stock worth $987,000 after buying an additional 33,750 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Quotient Technology by 5.8% in the 2nd quarter. New York State Common Retirement Fund now owns 200,459 shares of the technology company’s stock worth $2,305,000 after buying an additional 10,999 shares during the last quarter. Hedge funds and other institutional investors own 71.27% of the company’s stock.
Quotient Technology (NYSE:QUOT) last issued its quarterly earnings data on Tuesday, August 1st. The technology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The company 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 for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share.
In other Quotient Technology news, CEO Steven R. Boal sold 40,000 shares of Quotient Technology stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $11.38, for a total value of $455,200.00. Following the transaction, the chief executive officer now directly owns 1,048,823 shares of the company’s stock, valued at $11,935,605.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven R. Boal sold 80,000 shares of Quotient Technology stock in a transaction on Friday, September 15th. The stock was sold at an average price of $16.01, for a total transaction of $1,280,800.00. Following the completion of the transaction, the insider now directly owns 488,823 shares in the company, valued at $7,826,056.23. The disclosure for this sale can be found here. Insiders sold 643,724 shares of company stock valued at $8,903,688 in the last three months. 11.99% of the stock is currently owned by insiders.
Several research firms recently weighed in on QUOT. BidaskClub downgraded Quotient Technology from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Royal Bank Of Canada restated a “buy” rating and issued a $17.00 price target on shares of Quotient Technology in a research note on Friday, September 1st. DA Davidson began coverage on Quotient Technology in a research note on Wednesday, September 13th. They issued a “buy” rating and a $18.00 price target on the stock. Wedbush restated an “ourperform” rating and issued a $16.00 price target on shares of Quotient Technology in a research note on Monday, July 31st. Finally, TheStreet upgraded Quotient Technology from a “d+” rating to a “c-” rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Quotient Technology currently has a consensus rating of “Buy” and a consensus price target of $15.86.
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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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