Thrivent Financial for Lutherans lessened its position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 78.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 582,975 shares of the technology company's stock after selling 2,104,673 shares during the period. Thrivent Financial for Lutherans owned about 1.04% of QuinStreet worth $13,449,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of QNST. Quest Partners LLC acquired a new position in shares of QuinStreet during the third quarter worth $291,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of QuinStreet during the 3rd quarter worth about $477,000. Intech Investment Management LLC increased its holdings in shares of QuinStreet by 184.9% in the 3rd quarter. Intech Investment Management LLC now owns 46,183 shares of the technology company's stock valued at $883,000 after acquiring an additional 29,973 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of QuinStreet by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company's stock worth $9,480,000 after acquiring an additional 40,236 shares in the last quarter. Finally, FMR LLC lifted its stake 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 purchasing an additional 109,892 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CFO Gregory Wong sold 8,516 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total transaction of $194,846.08. Following the transaction, the chief financial officer now owns 337,031 shares of the company's stock, valued at $7,711,269.28. This represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Douglas Valenti sold 10,000 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $25.02, for a total value of $250,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,836,754 shares of the company's stock, valued at approximately $45,955,585.08. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.
QuinStreet Stock Performance
NASDAQ QNST traded up $0.10 during trading on Tuesday, reaching $19.35. The company's stock had a trading volume of 430,028 shares, compared to its average volume of 429,869. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -87.95 and a beta of 1.13. QuinStreet, Inc. has a twelve month low of $15.20 and a twelve month high of $26.27. The business's fifty day moving average price is $21.02 and its 200-day moving average price is $20.98.
QuinStreet (NASDAQ:QNST - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. As a group, sell-side analysts forecast that QuinStreet, Inc. will post 0.12 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
QNST has been the topic of a number of research analyst reports. Barrington Research reissued an "outperform" rating and set a $29.00 price objective on shares of QuinStreet in a report on Friday, February 7th. StockNews.com upgraded shares of QuinStreet from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. B. Riley restated a "buy" rating and issued a $34.00 price objective (up previously from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Finally, Lake Street Capital lifted their target price on QuinStreet from $25.00 to $27.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.80.
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About QuinStreet
(
Free Report)
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.
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