Assenagon Asset Management S.A. decreased its position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 94.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,650 shares of the technology company's stock after selling 547,549 shares during the period. Assenagon Asset Management S.A. owned 0.05% of QuinStreet worth $434,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of QNST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in QuinStreet by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,983 shares of the technology company's stock worth $571,000 after purchasing an additional 1,381 shares during the period. Millennium Management LLC lifted its holdings in shares of QuinStreet by 213.3% in the first quarter. Millennium Management LLC now owns 714,482 shares of the technology company's stock worth $12,746,000 after buying an additional 486,406 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of QuinStreet by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 540,286 shares of the technology company's stock worth $9,639,000 after buying an additional 88,431 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of QuinStreet in the first quarter worth $299,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of QuinStreet by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 113,366 shares of the technology company's stock worth $2,022,000 after acquiring an additional 2,135 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Zacks Research upgraded QuinStreet from a "strong sell" rating to a "hold" rating in a report on Thursday, July 30th. Lake Street Capital raised QuinStreet from a "hold" rating to a "buy" rating and set a $21.00 price objective on the stock in a report on Friday, August 7th. Wall Street Zen upgraded QuinStreet from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of QuinStreet from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 9th. Finally, B. Riley Financial restated a "buy" rating on shares of QuinStreet in a research report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, QuinStreet currently has an average rating of "Moderate Buy" and an average target price of $22.00.
Check Out Our Latest Report on QNST
Insider Buying and Selling
In related news, CEO Douglas Valenti sold 751,631 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $20.50, for a total transaction of $15,408,435.50. Following the transaction, the chief executive officer directly owned 996,278 shares in the company, valued at approximately $20,423,699. This represents a 43.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Wong sold 26,296 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $20.09, for a total transaction of $528,286.64. Following the completion of the sale, the chief financial officer directly owned 521,883 shares in the company, valued at $10,484,629.47. This trade represents a 4.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 825,322 shares of company stock valued at $16,668,917. Company insiders own 5.00% of the company's stock.
QuinStreet Price Performance
Shares of QuinStreet stock opened at $20.50 on Friday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 14.54 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.22. The stock has a 50 day moving average price of $15.67 and a 200-day moving average price of $13.39. QuinStreet, Inc. has a one year low of $10.28 and a one year high of $22.29.
QuinStreet (NASDAQ:QNST - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.06. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. The business had revenue of $373.88 million for the quarter, compared to analysts' expectations of $359.95 million. Equities analysts expect that QuinStreet, Inc. will post 0.94 EPS for the current year.
About QuinStreet
(
Free Report)
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.
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