QuinStreet, Inc. (NASDAQ:QNST) Stock Position Decreased by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 31.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 181,467 shares of the technology company's stock after selling 82,778 shares during the period. Franklin Resources Inc. owned 0.32% of QuinStreet worth $3,475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. US Bancorp DE raised its stake in QuinStreet by 880.3% during the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company's stock valued at $27,000 after acquiring an additional 1,250 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of QuinStreet during the third quarter valued at $29,000. Quarry LP raised its stake in shares of QuinStreet by 11,330.0% during the second quarter. Quarry LP now owns 2,286 shares of the technology company's stock valued at $38,000 after purchasing an additional 2,266 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in QuinStreet in the second quarter worth about $175,000. Finally, Hsbc Holdings PLC lifted its holdings in QuinStreet by 26.1% in the second quarter. Hsbc Holdings PLC now owns 14,000 shares of the technology company's stock worth $225,000 after purchasing an additional 2,895 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

QuinStreet Stock Performance

Shares of NASDAQ QNST traded up $1.97 during trading on Wednesday, hitting $23.45. The company had a trading volume of 530,792 shares, compared to its average volume of 415,602. QuinStreet, Inc. has a 52 week low of $11.22 and a 52 week high of $26.27. The business's 50-day moving average is $21.32 and its 200 day moving average is $19.14. The company has a market cap of $1.32 billion, a P/E ratio of -58.63 and a beta of 1.07.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.07. The business had revenue of $279.22 million during the quarter, compared to analyst estimates of $222.68 million. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. QuinStreet's revenue for the quarter was up 125.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.19) EPS. On average, research analysts expect that QuinStreet, Inc. will post 0.15 EPS for the current year.

Insider Activity

In other QuinStreet news, Director Stuart Huizinga sold 7,020 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $23.21, for a total transaction of $162,934.20. Following the completion of the sale, the director now directly owns 174,903 shares in the company, valued at approximately $4,059,498.63. This trade represents a 3.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew Glickman sold 30,000 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total value of $678,900.00. Following the completion of the transaction, the director now owns 113,140 shares in the company, valued at $2,560,358.20. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock worth $910,374 over the last 90 days. 5.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Stephens boosted their price target on shares of QuinStreet from $23.00 to $27.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Lake Street Capital boosted their target price on QuinStreet from $20.00 to $25.00 and gave the stock a "hold" rating in a report on Tuesday, November 5th. Craig Hallum upped their target price on QuinStreet from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. B. Riley lifted their price target on QuinStreet from $24.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, StockNews.com lowered QuinStreet from a "hold" rating to a "sell" rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, QuinStreet has an average rating of "Moderate Buy" and a consensus target price of $29.00.

QuinStreet Company Profile

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.