QuinStreet, Inc. (NASDAQ:QNST) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its position in QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 78.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Several other institutional investors and hedge funds have also modified their holdings of the company. SVB Wealth LLC purchased a new position in shares of QuinStreet during the 4th quarter worth $3,508,000. JPMorgan Chase & Co. boosted its stake in QuinStreet by 39.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company's stock worth $8,601,000 after buying an additional 127,689 shares during the last quarter. FMR LLC grew its holdings in QuinStreet by 5.2% in the 3rd quarter. FMR LLC now owns 2,233,345 shares of the technology company's stock valued at $42,724,000 after buying an additional 109,892 shares during the period. Lisanti Capital Growth LLC purchased a new stake in QuinStreet in the 4th quarter valued at about $2,031,000. Finally, Barclays PLC increased its stake in shares of QuinStreet by 149.7% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Insider Activity

In other news, CFO Gregory Wong sold 8,516 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total transaction of $194,846.08. Following the completion of the sale, the chief financial officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas Valenti sold 10,000 shares of QuinStreet stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total value of $250,200.00. Following the sale, the chief executive officer now directly owns 1,836,754 shares in the company, valued at approximately $45,955,585.08. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.00% of the company's stock.

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QuinStreet Price Performance

NASDAQ QNST traded down $0.60 during trading hours on Wednesday, hitting $18.75. The company had a trading volume of 361,572 shares, compared to its average volume of 429,559. The firm's 50 day moving average is $21.02 and its 200 day moving average is $20.98. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -85.23 and a beta of 1.13. QuinStreet, Inc. has a fifty-two week low of $15.20 and a fifty-two week high of $26.27.

QuinStreet (NASDAQ:QNST - Get Free Report) last posted its earnings results on Thursday, February 6th. The technology company reported ($0.03) earnings per share (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%. On average, equities analysts anticipate that QuinStreet, Inc. will post 0.12 EPS for the current year.

Analyst Ratings Changes

QNST has been the topic of a number of recent analyst reports. StockNews.com raised shares of QuinStreet from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Lake Street Capital lifted 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. B. Riley restated a "buy" rating and set a $34.00 price target (up from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Finally, Barrington Research restated an "outperform" rating and issued a $29.00 price objective on shares of QuinStreet in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $29.80.

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.