Gregory Wong Sells 26,296 Shares of QuinStreet (NASDAQ:QNST) Stock

Key Points

• QuinStreet CFO Gregory Wong sold 26,296 shares at an average price of $20.09, totaling approximately $528,287. The transaction was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards, leaving him with 521,883 shares.
• QuinStreet reported quarterly EPS of $0.50, beating analyst expectations of $0.44, while revenue reached $373.88 million versus the $359.95 million consensus estimate.
• Analyst sentiment has improved, with four Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $22.00. Institutional investors own approximately 97.83% of the company.

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report) CFO Gregory Wong sold 26,296 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $20.09, for a total transaction of $528,286.64. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 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.

Gregory Wong also recently made the following trade(s):

• On Wednesday, July 1st, Gregory Wong sold 10,338 shares of QuinStreet stock. The stock was sold at an average price of $15.00, for a total transaction of $155,070.00.
• On Monday, June 15th, Gregory Wong sold 22,057 shares of QuinStreet stock. The stock was sold at an average price of $12.19, for a total transaction of $268,874.83.

QuinStreet Stock Down 5.1%

Shares of QNST traded down $1.12 on Tuesday, reaching $20.90. The company's stock had a trading volume of 2,178,429 shares, compared to its average volume of 834,224. QuinStreet, Inc. has a twelve month low of $10.28 and a twelve month high of $22.29. The stock has a market capitalization of $1.20 billion, a PE ratio of 14.82 and a beta of 0.66. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $14.96 and a 200-day moving average of $13.21.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.06. The business had revenue of $373.88 million during the quarter, compared to the consensus estimate of $359.95 million. QuinStreet had a return on equity of 12.73% and a net margin of 6.28%. Equities analysts predict that QuinStreet, Inc. will post 0.94 EPS for the current year.

Wall Street Analyst Weigh In

QNST has been the subject of several recent research reports. Lake Street Capital upgraded QuinStreet from a "hold" rating to a "buy" rating and set a $21.00 price target for the company in a report on Friday. Weiss Ratings upgraded QuinStreet from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 9th. Zacks Research raised shares of QuinStreet from a "strong sell" rating to a "hold" rating in a report on Thursday, July 30th. Wall Street Zen upgraded shares of QuinStreet from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, B. Riley Financial reiterated a "buy" rating on shares of QuinStreet in a report on Friday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, QuinStreet presently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

Hedge Funds Weigh In On QuinStreet

Several institutional investors have recently modified their holdings of QNST. BlackRock Inc. purchased a new stake in shares of QuinStreet during the second quarter valued at approximately $160,805,000. Vanguard Group Inc. lifted its holdings in QuinStreet by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 4,257,710 shares of the technology company's stock worth $61,183,000 after acquiring an additional 133,468 shares during the period. Private Capital Management LLC boosted its position in QuinStreet by 0.4% in the fourth quarter. Private Capital Management LLC now owns 4,171,946 shares of the technology company's stock worth $59,951,000 after purchasing an additional 17,690 shares during the last quarter. Millennium Management LLC boosted its position in QuinStreet by 21.3% in the third quarter. Millennium Management LLC now owns 1,682,060 shares of the technology company's stock worth $26,021,000 after purchasing an additional 295,680 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in QuinStreet by 42.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,595,184 shares of the technology company's stock valued at $22,923,000 after purchasing 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.

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