QuinStreet, Inc. (NASDAQ:QNST) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC decreased its stake in QuinStreet, Inc. (NASDAQ:QNST) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,472,073 shares of the technology company’s stock after selling 84,150 shares during the period. QuinStreet accounts for 1.0% of NewEdge Wealth LLC’s portfolio, making the stock its 17th largest position. NewEdge Wealth LLC owned approximately 4.39% of QuinStreet worth $57,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QNST. JPMorgan Chase & Co. increased its stake in shares of QuinStreet by 39.7% in the third quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company’s stock valued at $8,601,000 after purchasing an additional 127,689 shares during the period. State Street Corp grew its holdings in QuinStreet by 2.1% in the 3rd quarter. State Street Corp now owns 1,989,976 shares of the technology company’s stock worth $38,068,000 after buying an additional 41,538 shares in the last quarter. Barclays PLC raised its stake in 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 in the last quarter. Geode Capital Management LLC boosted its position in QuinStreet by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company’s stock worth $24,315,000 after acquiring an additional 36,963 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in QuinStreet by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company’s stock worth $9,480,000 after acquiring an additional 40,236 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Analyst Ratings Changes

QNST has been the topic of a number of recent analyst reports. Craig Hallum lifted their price objective on shares of QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Lake Street Capital boosted their price target on shares of QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. StockNews.com upgraded shares of QuinStreet from a “sell” rating to a “hold” rating in a report on Monday, February 10th. B. Riley reissued a “buy” rating and set a $34.00 target price (up previously from $32.00) on shares of QuinStreet in a report on Friday, February 7th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.80.

Insider Activity

In other QuinStreet news, CEO Douglas Valenti sold 10,000 shares of QuinStreet stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $25.02, for a total transaction of $250,200.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stuart Huizinga sold 2,980 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $23.00, for a total value of $68,540.00. Following the completion of the sale, the director now owns 171,923 shares of the company’s stock, valued at $3,954,229. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,496 shares of company stock valued at $513,586 over the last three months. Insiders own 5.00% of the company’s stock.

QuinStreet Price Performance

NASDAQ QNST opened at $19.59 on Thursday. QuinStreet, Inc. has a 12 month low of $14.14 and a 12 month high of $26.27. The company has a market capitalization of $1.11 billion, a P/E ratio of -89.05 and a beta of 1.06. The company’s 50 day simple moving average is $22.67 and its 200 day simple moving average is $20.93.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported ($0.03) 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, analysts anticipate that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

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.