Balyasny Asset Management L.P. Sells 272,215 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Balyasny Asset Management L.P. lowered its position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 50.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,899 shares of the technology company's stock after selling 272,215 shares during the period. Balyasny Asset Management L.P. owned 0.48% of QuinStreet worth $6,250,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in QuinStreet by 39.7% during the third quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company's stock valued at $8,601,000 after acquiring an additional 127,689 shares in the last quarter. Barclays PLC grew its stake in QuinStreet by 149.7% during the third quarter. Barclays PLC now owns 127,404 shares of the technology company's stock valued at $2,436,000 after acquiring an additional 76,389 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of QuinStreet during the fourth quarter worth about $486,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of QuinStreet by 45.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 381,941 shares of the technology company's stock worth $8,811,000 after purchasing an additional 119,154 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of QuinStreet by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 4,002,030 shares of the technology company's stock worth $92,327,000 after purchasing an additional 26,169 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

QuinStreet Stock Performance

NASDAQ:QNST traded up $0.70 during mid-day trading on Tuesday, reaching $16.38. The stock had a trading volume of 1,051,512 shares, compared to its average volume of 501,625. QuinStreet, Inc. has a one year low of $14.39 and a one year high of $26.27. The firm has a 50 day moving average price of $17.10 and a two-hundred day moving average price of $20.36. The stock has a market capitalization of $924.96 million, a P/E ratio of -74.45 and a beta of 0.79.

QuinStreet (NASDAQ:QNST - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.15. QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. The firm had revenue of $269.84 million during the quarter, compared to the consensus estimate of $270.36 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business's revenue was up 60.1% on a year-over-year basis. Research analysts forecast that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on QNST shares. StockNews.com raised QuinStreet from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Stephens reissued an "overweight" rating and set a $31.00 price objective on shares of QuinStreet in a report on Thursday, May 8th. Lake Street Capital cut their price objective on QuinStreet from $27.00 to $19.00 and set a "hold" rating for the company in a report on Thursday, May 8th. B. Riley reissued a "buy" rating and set a $34.00 price objective (up previously from $32.00) on shares of QuinStreet in a report on Friday, February 7th. Finally, Barrington Research restated an "outperform" rating and issued a $29.00 target price on shares of QuinStreet in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $29.00.

Insider Buying and Selling at QuinStreet

In other QuinStreet news, CFO Gregory Wong sold 8,516 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total value of $194,846.08. Following the completion of the sale, the chief financial officer now owns 337,031 shares in the company, valued at approximately $7,711,269.28. The trade was a 2.46% 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. Corporate insiders own 5.00% of the company's stock.

About QuinStreet

QuinStreet, Inc, an online performance marketing company, provides customer acquisition services for its clients in the United States and internationally. The company offers online marketing services, such as qualified clicks, leads, calls, applications, and customers through its websites or third-party publishers.