Deutsche Bank AG Makes New $863,000 Investment in QuinStreet, Inc. $QNST

Key Points

• Deutsche Bank acquired 58,920 QuinStreet shares worth approximately $863,000 during the second quarter, joining other institutional investors that increased their positions. Institutions and hedge funds collectively own 97.83% of QNST.
• Analyst sentiment improved, with Lake Street Capital upgrading the stock to “Buy” and setting a $21 target. QuinStreet has an overall “Moderate Buy” rating and an average price target of $22.
• QuinStreet beat quarterly expectations, reporting $0.50 EPS versus the $0.44 consensus and revenue of $373.88 million versus $359.95 million expected. Meanwhile, insiders sold $17.4 million of shares over the past 90 days under pre-arranged plans to cover tax obligations.

Deutsche Bank AG acquired a new position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 58,920 shares of the technology company's stock, valued at approximately $863,000. Deutsche Bank AG owned 0.10% of QuinStreet at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of QNST. PNC Financial Services Group Inc. grew its stake in 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 increased its stake in shares of QuinStreet by 17.0% during the second quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company's stock worth $65,000 after buying an additional 649 shares during the period. Farther Finance Advisors LLC raised its holdings in QuinStreet by 10.2% in the fourth quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company's stock valued at $113,000 after acquiring an additional 730 shares in the last quarter. Tripletail Wealth Management LLC raised its holdings in QuinStreet by 35.2% in the fourth quarter. Tripletail Wealth Management LLC now owns 9,290 shares of the technology company's stock valued at $133,000 after acquiring an additional 2,420 shares in the last quarter. Finally, FJ Capital Management LLC purchased a new position in QuinStreet in the third quarter worth approximately $135,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on QNST. Zacks Research raised shares of QuinStreet from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 30th. Weiss Ratings raised shares of QuinStreet from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Thursday. Lake Street Capital upgraded shares of QuinStreet from a "hold" rating to a "buy" rating and set a $21.00 target price for the company in a research note on Friday, August 7th. B. Riley Financial reissued a "buy" rating on shares of QuinStreet in a report on Friday, August 7th. Finally, Wall Street Zen upgraded QuinStreet from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, QuinStreet currently has an average rating of "Moderate Buy" and an average price target of $22.00.

Insider Buying and Selling at QuinStreet

In other QuinStreet news, CFO Gregory Wong sold 26,296 shares of the firm's 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 transaction, the chief financial officer owned 521,883 shares of the company's stock, valued at approximately $10,484,629.47. This trade represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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, CEO Douglas Valenti sold 751,631 shares of QuinStreet 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 sale, the chief executive officer owned 996,278 shares in the company, valued at $20,423,699. This trade represents a 43.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 862,026 shares of company stock worth $17,423,897 over the last 90 days. Corporate insiders own 5.00% of the company's stock.

QuinStreet Stock Performance

Shares of QuinStreet stock opened at $19.44 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.22. QuinStreet, Inc. has a 52 week low of $10.28 and a 52 week high of $22.29. The firm's 50 day moving average is $17.32 and its two-hundred day moving average is $13.96. The firm has a market capitalization of $1.11 billion, a P/E ratio of 13.79 and a beta of 0.66.

QuinStreet (NASDAQ:QNST - Get Free Report) last issued its earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $359.95 million. Research analysts forecast that QuinStreet, Inc. will post 1.06 EPS for the current fiscal year.

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.

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