Insider Selling: QuinStreet (NASDAQ:QNST) CFO Sells 22,057 Shares of Stock

QuinStreet, Inc. (NASDAQ:QNST) CFO Gregory Wong sold 22,057 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $12.19, for a total value of $268,874.83. Following the completion of the transaction, the chief financial officer owned 400,682 shares of the company’s stock, valued at $4,884,313.58. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

QuinStreet Trading Down 1.4%

NASDAQ:QNST traded down $0.18 on Wednesday, hitting $12.77. 660,856 shares of the stock were exchanged, compared to its average volume of 818,805. The stock has a fifty day moving average of $12.37 and a 200-day moving average of $12.89. The stock has a market cap of $733.57 million, a PE ratio of 11.20 and a beta of 0.70. QuinStreet, Inc. has a fifty-two week low of $10.28 and a fifty-two week high of $17.13. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.23.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.14. QuinStreet had a net margin of 5.53% and a return on equity of 9.97%. The company had revenue of $346.14 million during the quarter, compared to the consensus estimate of $336.22 million. During the same quarter last year, the company earned $0.21 earnings per share. QuinStreet’s revenue for the quarter was up 28.3% on a year-over-year basis. As a group, equities analysts expect that QuinStreet, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on QNST. B. Riley Financial raised shares of QuinStreet to a “strong-buy” rating in a report on Thursday, April 2nd. Wall Street Zen downgraded QuinStreet from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Northland Securities started coverage on QuinStreet in a research report on Tuesday, March 17th. They set an “outperform” rating and a $17.00 price objective for the company. Finally, Weiss Ratings raised shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Hedge Funds Weigh In On QuinStreet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of QuinStreet by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 4,257,710 shares of the technology company’s stock worth $61,183,000 after purchasing an additional 133,468 shares in the last quarter. Private Capital Management LLC increased its stake in QuinStreet by 0.4% during the 4th quarter. Private Capital Management LLC now owns 4,171,946 shares of the technology company’s stock valued at $59,951,000 after buying an additional 17,690 shares during the period. Millennium Management LLC raised its position in shares of QuinStreet by 21.3% during the 3rd quarter. Millennium Management LLC now owns 1,682,060 shares of the technology company’s stock worth $26,021,000 after buying an additional 295,680 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of QuinStreet by 43.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,633,251 shares of the technology company’s stock worth $23,470,000 after buying an additional 496,492 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of QuinStreet by 42.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,595,184 shares of the technology company’s stock worth $22,923,000 after acquiring an additional 472,407 shares during the period. 97.83% of the stock is owned by institutional investors.

QuinStreet Company Profile

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.