QuinStreet, Inc. (NASDAQ:QNST) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lessened its stake in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,472,073 shares of the technology company's stock after selling 84,150 shares during the quarter. QuinStreet comprises approximately 1.0% of NewEdge Wealth LLC's portfolio, making the stock its 17th biggest position. NewEdge Wealth LLC owned about 4.39% of QuinStreet worth $57,031,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of QNST. FMR LLC grew its holdings in QuinStreet by 5.2% during the third quarter. FMR LLC now owns 2,233,345 shares of the technology company's stock worth $42,724,000 after acquiring an additional 109,892 shares during the period. State Street Corp grew its holdings in QuinStreet by 2.1% in the third quarter. State Street Corp now owns 1,989,976 shares of the technology company's stock valued at $38,068,000 after purchasing an additional 41,538 shares during the last quarter. Geode Capital Management LLC grew its holdings in QuinStreet by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company's stock valued at $24,315,000 after purchasing an additional 36,963 shares during the last quarter. Portolan Capital Management LLC grew its holdings in QuinStreet by 9.6% in the third quarter. Portolan Capital Management LLC now owns 801,693 shares of the technology company's stock valued at $15,336,000 after purchasing an additional 70,408 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in QuinStreet by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company's stock valued at $9,480,000 after purchasing an additional 40,236 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

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Insider Buying and Selling

In related news, CEO Douglas Valenti sold 10,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total transaction of $250,200.00. Following the transaction, the chief executive officer now directly owns 1,836,754 shares in the company, valued at approximately $45,955,585.08. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory Wong sold 8,516 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total value of $194,846.08. Following the transaction, the chief financial officer now owns 337,031 shares in the company, valued at $7,711,269.28. This trade represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

QNST has been the topic of several research reports. Lake Street Capital upped their target price on QuinStreet from $25.00 to $27.00 and gave the company a "hold" rating in a report on Friday, February 7th. Craig Hallum upped their target price on QuinStreet from $25.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Barrington Research reissued an "outperform" rating and issued a $29.00 target price on shares of QuinStreet in a report on Friday, February 7th. Stephens upped their target price on QuinStreet from $23.00 to $27.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Finally, B. Riley reaffirmed a "buy" rating and set a $34.00 price objective (up previously from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.80.

QuinStreet Stock Up 1.5 %

Shares of QNST traded up $0.28 during trading hours on Friday, reaching $19.58. 542,285 shares of the company traded hands, compared to its average volume of 531,384. The stock has a market capitalization of $1.11 billion, a PE ratio of -89.00 and a beta of 1.06. QuinStreet, Inc. has a fifty-two week low of $14.14 and a fifty-two week high of $26.27. The stock has a fifty day simple moving average of $22.59 and a 200 day simple moving average of $20.96.

QuinStreet (NASDAQ:QNST - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The technology company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. Research analysts predict that QuinStreet, Inc. will post 0.12 EPS for the current fiscal year.

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.