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

Shares of QuinStreet, Inc. (NASDAQ:QNST) were down 5.1% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $20.93 and last traded at $20.90. 636,138 shares were traded during trading, a decline of 23% from the average daily volume of 823,156 shares. The stock had previously closed at $22.02.

Specifically, CEO Douglas Valenti sold 751,631 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $20.50, for a total transaction of $15,408,435.50. Following the transaction, the chief executive officer owned 996,278 shares in the company, valued at $20,423,699. This represents a 43.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $20.09, for a total transaction of $528,286.64. Following the transaction, the chief financial officer owned 521,883 shares in the company, valued at $10,484,629.47. The trade was a 4.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.

Analyst Upgrades and Downgrades

QNST has been the topic of a number of research reports. Lake Street Capital raised QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Friday, August 7th. B. Riley Financial reiterated a “buy” rating on shares of QuinStreet in a research report on Friday, August 7th. Zacks Research raised shares of QuinStreet from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 30th. 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, Wall Street Zen raised shares of QuinStreet from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, QuinStreet presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

QuinStreet Stock Performance

The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average is $15.32 and its 200 day moving average is $13.29. The company has a market cap of $1.19 billion, a PE ratio of 14.74 and a beta of 0.66.

QuinStreet (NASDAQ:QNST) last released its earnings results on Thursday, August 6th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $359.95 million. As a group, research analysts predict that QuinStreet, Inc. will post 0.94 EPS for the current fiscal year.

Institutional Trading of QuinStreet

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of QuinStreet by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,983 shares of the technology company’s stock worth $571,000 after buying an additional 1,381 shares during the last quarter. Millennium Management LLC raised its position in shares of QuinStreet by 213.3% during the 1st quarter. Millennium Management LLC now owns 714,482 shares of the technology company’s stock valued at $12,746,000 after buying an additional 486,406 shares during the period. Goldman Sachs Group Inc. lifted its holdings in QuinStreet by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 540,286 shares of the technology company’s stock valued at $9,639,000 after acquiring an additional 88,431 shares during the last quarter. Caxton Associates LLP acquired a new position in QuinStreet in the first quarter valued at approximately $299,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in QuinStreet by 1.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 113,366 shares of the technology company’s stock worth $2,022,000 after acquiring an additional 2,135 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

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.