Ieq Capital LLC Takes $1.66 Million Position in QuinStreet, Inc. $QNST

Ieq Capital LLC purchased a new stake in shares of QuinStreet, Inc. (NASDAQ:QNST) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 113,226 shares of the technology company’s stock, valued at approximately $1,659,000. Ieq Capital LLC owned approximately 0.20% of QuinStreet at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in QuinStreet by 54.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock valued at $36,000 after acquiring an additional 1,066 shares during the period. GAMMA Investing LLC boosted its holdings in shares of QuinStreet by 17.0% in the second quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock worth $65,000 after acquiring an additional 649 shares during the period. Allworth Financial LP bought a new position in shares of QuinStreet in the second quarter worth $66,000. Farther Finance Advisors LLC grew its position 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 purchasing an additional 730 shares in the last quarter. Finally, Tripletail Wealth Management LLC grew its position in shares of QuinStreet by 35.2% in the fourth quarter. Tripletail Wealth Management LLC now owns 9,290 shares of the technology company’s stock valued at $133,000 after purchasing an additional 2,420 shares in the last quarter. 97.83% of the stock is owned by institutional investors.

Insider Transactions at QuinStreet

In other QuinStreet news, CFO Gregory Wong sold 26,296 shares of QuinStreet 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed 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, CEO Douglas Valenti sold 751,631 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $20.50, for a total transaction of $15,408,435.50. Following the completion of the transaction, the chief executive officer directly owned 996,278 shares of the company’s stock, valued at approximately $20,423,699. This represents a 43.00% 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. Over the last 90 days, insiders sold 862,026 shares of company stock valued at $17,423,897. 5.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

QuinStreet Trading Down 1.9%

Shares of QNST stock opened at $20.10 on Wednesday. The company has a market capitalization of $1.15 billion, a PE ratio of 14.26 and a beta of 0.66. QuinStreet, Inc. has a 52-week low of $10.28 and a 52-week high of $22.29. The business’s fifty day moving average is $16.82 and its 200 day moving average is $13.75. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.22.

QuinStreet (NASDAQ:QNST) last posted its earnings results on Thursday, August 6th. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.44 by $0.06. QuinStreet had a return on equity of 12.73% and a net margin of 6.28%.The business had revenue of $373.88 million during the quarter, compared to analysts’ expectations of $359.95 million. On average, equities research analysts anticipate that QuinStreet, Inc. will post 1.06 EPS 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.