QuinStreet (NASDAQ:QNST) Shares Cross Above 200 Day Moving Average – Time to Sell?

QuinStreet, Inc. (NASDAQ:QNST) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $15.26 and traded as high as $16.88. QuinStreet shares last traded at $16.52, with a volume of 560,527 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on QNST. B. Riley Financial reissued a “buy” rating on shares of QuinStreet in a research note on Friday, August 7th. Weiss Ratings upgraded QuinStreet from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Northland Securities set a $23.00 target price on QuinStreet in a research report on Thursday, September 17th. Zacks Research cut QuinStreet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, Wall Street Zen upgraded QuinStreet from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.50.

QuinStreet Price Performance

The firm has a market capitalization of $945.27 million, a P/E ratio of 11.72 and a beta of 0.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s fifty day simple moving average is $17.33 and its 200 day simple moving average is $15.26.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.50 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $359.95 million. On average, equities research analysts predict that QuinStreet, Inc. will post 1.06 EPS for the current year.

Insider Buying and Selling

In related news, CFO Gregory Wong sold 26,296 shares of the business’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 completion of 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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, Director Asmau Ahmed sold 15,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $20.85, for a total transaction of $312,750.00. Following the sale, the director directly owned 34,979 shares of the company’s stock, valued at $729,312.15. The trade was a 30.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 829,631 shares of company stock worth $16,999,952 in the last 90 days. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of QuinStreet

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in QuinStreet during the 2nd quarter worth $160,805,000. Lazard Asset Management LLC increased its position in QuinStreet by 619.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,441,113 shares of the technology company’s stock valued at $17,308,000 after buying an additional 1,240,667 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in QuinStreet by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,200,335 shares of the technology company’s stock valued at $14,417,000 after buying an additional 23,886 shares during the last quarter. Jacobs Asset Management LLC raised its stake in QuinStreet by 21.6% in the first quarter. Jacobs Asset Management LLC now owns 1,134,300 shares of the technology company’s stock valued at $13,623,000 after buying an additional 201,800 shares during the last quarter. Finally, NewEdge Wealth LLC purchased a new stake in QuinStreet in the second quarter valued at about $12,157,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

About QuinStreet

QuinStreet, Inc is a performance marketing and online marketplace company that connects consumers with brands and service providers. The company uses digital media, data, and technology to help businesses acquire customers and generate leads through channels such as search, social media, display advertising, and other online marketing platforms.

QuinStreet operates vertical marketplaces in areas including insurance, financial services, home services, and business services. Its platforms help consumers research products and services, compare available options, and connect with providers, while giving advertisers tools to reach consumers who are actively seeking information or purchasing opportunities.

Founded in 1999, QuinStreet is headquartered in Foster City, California, and primarily serves the U.S.