Insider Selling: QuinStreet (NASDAQ:QNST) CFO Sells $239,229.76 in Stock

Key Points

• QuinStreet CFO Gregory Wong sold 11,704 shares for $239,229.76 at an average price of $20.44, reducing his direct ownership by 2.37% to 481,786 shares. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
• QuinStreet recently beat quarterly expectations, reporting $0.50 in EPS versus the $0.44 consensus estimate and revenue of $373.88 million versus expectations of $359.95 million.
• Analyst sentiment is favorable, with four Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $22.00; institutional investors own 97.83% of the company.

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report) CFO Gregory Wong sold 11,704 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $20.44, for a total transaction of $239,229.76. Following the completion of the sale, the chief financial officer directly owned 481,786 shares of the company's stock, valued at $9,847,705.84. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, August 7th, Gregory Wong sold 26,296 shares of QuinStreet stock. The stock was sold at an average price of $20.09, for a total transaction of $528,286.64.
• 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 shares were sold at an average price of $12.19, for a total transaction of $268,874.83.

QuinStreet Price Performance

NASDAQ:QNST traded up $0.59 during trading hours on Tuesday, reaching $20.76. 766,154 shares of the company's stock were exchanged, compared to its average volume of 833,953. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.19 billion, a P/E ratio of 14.72 and a beta of 0.66. QuinStreet, Inc. has a 12 month low of $10.28 and a 12 month high of $22.29. The business's 50-day simple moving average is $15.83 and its two-hundred day simple moving average is $13.42.

QuinStreet (NASDAQ:QNST - Get Free Report) last posted its quarterly 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 return on equity of 12.73% and a net margin of 6.28%.The company had revenue of $373.88 million for the quarter, compared to analysts' expectations of $359.95 million. Sell-side analysts expect that QuinStreet, Inc. will post 0.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wall Street Zen upgraded QuinStreet from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Zacks Research upgraded QuinStreet from a "strong sell" rating to a "hold" rating in a report on Thursday, July 30th. Weiss Ratings raised shares of QuinStreet from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 9th. B. Riley Financial reiterated a "buy" rating on shares of QuinStreet in a report on Friday, August 7th. Finally, Lake Street Capital raised shares of QuinStreet from a "hold" rating to a "buy" rating and set a $21.00 target price on the stock in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $22.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QNST. BlackRock Inc. acquired a new position in QuinStreet during the second quarter valued at $160,805,000. Lazard Asset Management LLC lifted its stake in QuinStreet by 619.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,441,113 shares of the technology company's stock worth $17,308,000 after acquiring an additional 1,240,667 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in QuinStreet by 1,000.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 900,264 shares of the technology company's stock worth $12,937,000 after acquiring an additional 1,000,264 shares during the period. NewEdge Wealth LLC purchased a new position in QuinStreet during the 2nd quarter valued at about $12,157,000. Finally, Heartland Advisors Inc. acquired a new position in shares of QuinStreet in the 2nd quarter valued at about $8,790,000. Hedge funds and other institutional investors own 97.83% of the company's stock.

About QuinStreet

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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