QuinStreet (NASDAQ:QNST) Shares Down 5.1% on Insider Selling

QuinStreet, Inc. (NASDAQ:QNST)’s share price was down 5.1% on Tuesday after an insider sold shares in the company. The company traded as low as $20.93 and last traded at $20.90. 636,138 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 823,156 shares. The stock had previously closed at $22.02.

Specifically, CEO Douglas Valenti sold 751,631 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $20.50, for a total value of $15,408,435.50. Following the transaction, the chief executive officer owned 996,278 shares of the company’s stock, valued at approximately $20,423,699. This represents a 43.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Wong sold 26,296 shares of QuinStreet stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $20.09, for a total transaction of $528,286.64. Following the transaction, the chief financial officer directly owned 521,883 shares in the company, valued at $10,484,629.47. The trade was a 4.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analysts Set New Price Targets

QNST has been the subject of a number of research analyst reports. Zacks Research raised QuinStreet from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 30th. Wall Street Zen raised shares of QuinStreet from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. B. Riley Financial reiterated a “buy” rating on shares of QuinStreet in a report on Friday, August 7th. Lake Street Capital raised shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Friday, August 7th. Finally, Weiss Ratings raised QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, QuinStreet presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

QuinStreet Stock Down 0.5%

The company has a market cap of $1.19 billion, a P/E ratio of 14.74 and a beta of 0.66. The stock has a 50-day moving average of $15.32 and a 200 day moving average of $13.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 1.18.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. The business had revenue of $373.88 million for the quarter, compared to analyst estimates of $359.95 million. Research analysts anticipate that QuinStreet, Inc. will post 0.94 earnings per share for the current year.

Hedge Funds Weigh In On QuinStreet

Several large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in QuinStreet by 54.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock valued at $36,000 after buying an additional 1,066 shares during the last quarter. GAMMA Investing LLC increased its holdings in QuinStreet by 17.0% in the second quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock valued at $65,000 after purchasing an additional 649 shares during the period. Allworth Financial LP acquired a new position in QuinStreet during the 2nd quarter worth about $66,000. Farther Finance Advisors LLC increased its stake in shares of QuinStreet by 10.2% in the fourth quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company’s stock valued at $113,000 after buying an additional 730 shares during the period. Finally, FJ Capital Management LLC bought a new stake in QuinStreet in the third quarter valued at approximately $135,000. 97.83% of the stock is currently owned by institutional investors.

About QuinStreet

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.