Canada Pension Plan Investment Board Buys Shares of 53,900 QuinStreet, Inc. $QNST

Key Points

• Canada Pension Plan Investment Board bought 53,900 QuinStreet shares worth approximately $790,000, while institutional investors collectively own 97.83% of the company.
• Analyst sentiment improved, with several firms upgrading QuinStreet to Buy or Strong Buy. The stock has a consensus “Buy” rating and an average price target of $22, compared with its reported price of $18.94.
• QuinStreet exceeded quarterly expectations, reporting $0.50 earnings per share versus a $0.44 estimate and revenue of $373.88 million versus $359.95 million expected. However, insiders sold roughly $17.4 million of stock over the past 90 days.

Canada Pension Plan Investment Board purchased a new position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 53,900 shares of the technology company's stock, valued at approximately $790,000. Canada Pension Plan Investment Board owned about 0.09% of QuinStreet as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in shares of QuinStreet by 54.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company's stock worth $36,000 after purchasing an additional 1,066 shares in the last quarter. GAMMA Investing LLC grew its holdings in QuinStreet by 17.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company's stock valued at $65,000 after buying an additional 649 shares during the last quarter. Allworth Financial LP acquired a new stake in QuinStreet during the 2nd quarter valued at $66,000. Tripletail Wealth Management LLC increased its position in QuinStreet by 35.2% during the fourth quarter. Tripletail Wealth Management LLC now owns 9,290 shares of the technology company's stock worth $133,000 after buying an additional 2,420 shares in the last quarter. Finally, FJ Capital Management LLC purchased a new position in QuinStreet during the third quarter worth $135,000. Institutional investors and hedge funds own 97.83% of the company's stock.

Analyst Upgrades and Downgrades

QNST has been the subject of several analyst reports. B. Riley Financial reissued a "buy" rating on shares of QuinStreet in a research note on Friday, August 7th. Lake Street Capital raised shares of QuinStreet from a "hold" rating to a "buy" rating and set a $21.00 price target on the stock in a research note on Friday, August 7th. Zacks Research raised shares of QuinStreet from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 28th. Weiss Ratings raised shares of QuinStreet from a "hold (c-)" rating to a "hold (c+)" rating in a research note on Thursday, August 27th. Finally, Wall Street Zen upgraded shares of QuinStreet from a "buy" rating to a "strong-buy" rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $22.00.

QuinStreet Stock Down 2.6%

QNST opened at $18.94 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 13.43 and a beta of 0.66. The business has a 50-day moving average of $17.44 and a two-hundred day moving average of $14.02. QuinStreet, Inc. has a 12 month low of $10.28 and a 12 month high of $22.29.

QuinStreet (NASDAQ:QNST - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $359.95 million. On average, research analysts expect that QuinStreet, Inc. will post 1.06 earnings per share for the current year.

Insider Transactions at QuinStreet

In other news, CEO Douglas Valenti sold 751,631 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $20.50, for a total value of $15,408,435.50. Following the transaction, the chief executive officer directly owned 996,278 shares in the company, valued at $20,423,699. This trade represents a 43.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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, Director Asmau Ahmed sold 10,000 shares of QuinStreet stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $20.30, for a total value of $203,000.00. Following the completion of the transaction, the director directly owned 24,979 shares in the company, valued at $507,073.70. This represents a 28.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 862,026 shares of company stock worth $17,423,897 in the last ninety days. Insiders own 5.00% of the company's stock.

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.

Want to see what other hedge funds are holding QNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QuinStreet, Inc. (NASDAQ:QNST - Free Report).

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