Rafferty Asset Management LLC raised its position in shares of Quotient Technology Inc. (NYSE:QUOT) by 390.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,078 shares of the technology company’s stock after purchasing an additional 72,502 shares during the period. Rafferty Asset Management LLC owned 0.10% of Quotient Technology worth $985,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in Quotient Technology by 13.9% during the first quarter. Victory Capital Management Inc. now owns 12,325 shares of the technology company’s stock valued at $201,000 after purchasing an additional 1,501 shares during the period. Advisor Group Holdings Inc. grew its holdings in Quotient Technology by 18.6% during the second quarter. Advisor Group Holdings Inc. now owns 11,267 shares of the technology company’s stock valued at $123,000 after purchasing an additional 1,771 shares during the period. Swiss National Bank grew its holdings in Quotient Technology by 2.0% during the first quarter. Swiss National Bank now owns 176,700 shares of the technology company’s stock valued at $2,887,000 after purchasing an additional 3,400 shares during the period. New York State Common Retirement Fund grew its holdings in Quotient Technology by 5.9% during the first quarter. New York State Common Retirement Fund now owns 76,900 shares of the technology company’s stock valued at $1,257,000 after purchasing an additional 4,300 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in Quotient Technology by 4.6% during the first quarter. Alliancebernstein L.P. now owns 101,700 shares of the technology company’s stock valued at $1,662,000 after purchasing an additional 4,500 shares during the period. 86.24% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the company. Zacks Investment Research lowered Quotient Technology from a “hold” rating to a “sell” rating in a report on Tuesday, August 24th. Morgan Stanley raised their price target on Quotient Technology from $7.80 to $8.50 and gave the stock an “underweight” rating in a report on Monday, June 7th. Oppenheimer cut their price target on Quotient Technology from $15.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 12th. Colliers Securities reaffirmed a “buy” rating and issued a $25.00 price target on shares of Quotient Technology in a report on Monday, July 12th. Finally, Craig Hallum cut their price target on Quotient Technology from $25.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 6th. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.50.
Quotient Technology (NYSE:QUOT) last issued its quarterly earnings data on Thursday, August 5th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.08). Quotient Technology had a negative return on equity of 24.05% and a negative net margin of 11.96%. The business had revenue of $123.88 million during the quarter, compared to analysts’ expectations of $119.17 million. On average, sell-side analysts forecast that Quotient Technology Inc. will post -0.25 EPS for the current fiscal year.
In other Quotient Technology news, CEO Steven R. Boal sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 19th. The stock was sold at an average price of $10.18, for a total transaction of $50,900.00. Following the sale, the chief executive officer now owns 3,614,933 shares in the company, valued at $36,800,017.94. 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 purchased 10,000 shares of the stock in a transaction on Tuesday, August 10th. The shares were purchased at an average price of $8.00 per share, for a total transaction of $80,000.00. The disclosure for this purchase can be found here. Insiders sold 17,216 shares of company stock worth $183,466 in the last quarter. 11.00% of the stock is currently owned by company insiders.
Quotient Technology Company Profile
Quotient Technology, Inc engages in the operation of a digital marketing platform that connects brands and retailers with consumers through web, mobile, and social channels. It offers digital printable coupons, digital paperless coupons, coupon codes and other promotions. The company was founded by Steven R.
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