Insider Selling: QuinStreet, Inc. (NASDAQ:QNST) Director Sells 30,000 Shares of Stock

QuinStreet, Inc. (NASDAQ:QNST) Director Matthew Glickman sold 30,000 shares of QuinStreet stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total value of $678,900.00. Following the transaction, the director now directly owns 113,140 shares of the company’s stock, valued at approximately $2,560,358.20. This represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

QuinStreet Stock Performance

Shares of NASDAQ QNST traded down $0.72 during mid-day trading on Thursday, reaching $20.82. The company had a trading volume of 458,508 shares, compared to its average volume of 414,346. The stock has a market capitalization of $1.17 billion, a PE ratio of -53.85 and a beta of 1.09. QuinStreet, Inc. has a twelve month low of $10.88 and a twelve month high of $26.27. The stock’s 50 day moving average is $19.68 and its 200-day moving average is $18.33.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.07. The company had revenue of $279.22 million for the quarter, compared to the consensus estimate of $222.68 million. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The firm’s revenue was up 125.3% compared to the same quarter last year. During the same period last year, the business posted ($0.19) earnings per share. On average, sell-side analysts anticipate that QuinStreet, Inc. will post 0.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on QNST. B. Riley lifted their price objective on QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Stephens boosted their price objective on QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Lake Street Capital boosted their price target on QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Barrington Research upped their price objective on QuinStreet from $22.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, QuinStreet currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Institutional Investors Weigh In On QuinStreet

Several hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System lifted its stake in QuinStreet by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 26,400 shares of the technology company’s stock worth $438,000 after purchasing an additional 600 shares during the period. State of Alaska Department of Revenue grew its holdings in QuinStreet by 2.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 31,544 shares of the technology company’s stock worth $603,000 after acquiring an additional 712 shares during the period. The Manufacturers Life Insurance Company grew its holdings in QuinStreet by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,539 shares of the technology company’s stock worth $341,000 after acquiring an additional 719 shares during the period. PEAK6 Investments LLC boosted its position in shares of QuinStreet by 3.4% during the first quarter. PEAK6 Investments LLC now owns 25,680 shares of the technology company’s stock worth $454,000 after purchasing an additional 843 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its position in shares of QuinStreet by 1.9% during the first quarter. Texas Permanent School Fund Corp now owns 45,638 shares of the technology company’s stock worth $806,000 after purchasing an additional 847 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

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.