Principal Financial Group Inc. Purchases 137,623 Shares of QuinStreet, Inc. $QNST

Principal Financial Group Inc. raised its position in QuinStreet, Inc. (NASDAQ:QNST) by 50.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 408,930 shares of the technology company’s stock after buying an additional 137,623 shares during the quarter. Principal Financial Group Inc.’s holdings in QuinStreet were worth $4,911,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of QuinStreet by 10.2% during the 4th quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company’s stock worth $113,000 after acquiring an additional 730 shares during the period. Entropy Technologies LP raised its stake in QuinStreet by 10.0% in the 3rd quarter. Entropy Technologies LP now owns 14,063 shares of the technology company’s stock valued at $218,000 after acquiring an additional 1,284 shares during the period. Captrust Financial Advisors lifted its holdings in QuinStreet by 0.8% during the fourth quarter. Captrust Financial Advisors now owns 173,144 shares of the technology company’s stock valued at $2,488,000 after purchasing an additional 1,379 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in QuinStreet by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,983 shares of the technology company’s stock worth $571,000 after purchasing an additional 1,381 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in QuinStreet by 4.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,107 shares of the technology company’s stock worth $448,000 after purchasing an additional 1,391 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of QuinStreet from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Zacks Research downgraded shares of QuinStreet from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 9th. Finally, B. Riley Financial raised shares of QuinStreet to a “strong-buy” rating in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, QuinStreet currently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Insider Buying and Selling

In other news, CFO Gregory Wong sold 22,057 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $12.19, for a total transaction of $268,874.83. Following the completion of the transaction, the chief financial officer directly owned 400,682 shares in the company, valued at $4,884,313.58. The trade was a 5.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is currently owned by insiders.

QuinStreet Trading Up 2.6%

Shares of QuinStreet stock opened at $15.94 on Wednesday. The company’s 50-day moving average price is $14.13 and its 200-day moving average price is $13.08. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.23. QuinStreet, Inc. has a 12-month low of $10.28 and a 12-month high of $18.02. The company has a market cap of $915.59 million, a price-to-earnings ratio of 13.98 and a beta of 0.67.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.17 by $0.14. The company had revenue of $346.14 million during the quarter, compared to analysts’ expectations of $336.22 million. QuinStreet had a net margin of 5.53% and a return on equity of 9.97%. QuinStreet’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, equities analysts expect that QuinStreet, Inc. will post 0.53 earnings per share for the current fiscal year.

QuinStreet Company Profile

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.