Principal Financial Group Inc. Cuts Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Principal Financial Group Inc. cut its holdings in shares of QuinStreet, Inc. (NASDAQ:QNSTFree Report) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 285,013 shares of the technology company’s stock after selling 11,312 shares during the period. Principal Financial Group Inc. owned approximately 0.52% of QuinStreet worth $2,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Carmel Capital Partners LLC acquired a new stake in QuinStreet during the 3rd quarter valued at $34,000. Quarry LP bought a new stake in QuinStreet in the second quarter worth $62,000. State of Wyoming boosted its holdings in QuinStreet by 62.2% in the fourth quarter. State of Wyoming now owns 7,193 shares of the technology company’s stock worth $103,000 after purchasing an additional 2,757 shares in the last quarter. Bank of Montreal Can bought a new stake in QuinStreet in the second quarter worth $109,000. Finally, Virtu Financial LLC bought a new stake in QuinStreet in the second quarter worth $112,000. Institutional investors own 89.78% of the company’s stock.

Insider Activity

In other news, CFO Gregory Wong sold 7,145 shares of QuinStreet stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $12.94, for a total transaction of $92,456.30. Following the completion of the transaction, the chief financial officer now directly owns 309,116 shares in the company, valued at $3,999,961.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other QuinStreet news, Director Andrew T. Sheehan sold 50,000 shares of QuinStreet stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $11.44, for a total value of $572,000.00. Following the completion of the sale, the director now owns 64,848 shares of the company’s stock, valued at approximately $741,861.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Gregory Wong sold 7,145 shares of QuinStreet stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $12.94, for a total transaction of $92,456.30. Following the completion of the sale, the chief financial officer now directly owns 309,116 shares of the company’s stock, valued at approximately $3,999,961.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,010 shares of company stock worth $996,822. Insiders own 5.30% of the company’s stock.

QuinStreet Stock Up 13.8 %

QNST opened at $14.69 on Friday. The stock has a market cap of $802.07 million, a PE ratio of -10.64 and a beta of 1.05. The company has a fifty day moving average of $12.62 and a 200-day moving average of $10.84. QuinStreet, Inc. has a twelve month low of $6.79 and a twelve month high of $18.18.

QuinStreet (NASDAQ:QNSTGet Free Report) last posted its earnings results on Wednesday, February 7th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.05). QuinStreet had a negative return on equity of 29.48% and a negative net margin of 13.35%. The company had revenue of $122.68 million for the quarter, compared to analysts’ expectations of $116.46 million. Sell-side analysts anticipate that QuinStreet, Inc. will post -0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barrington Research reissued an “outperform” rating and set a $16.00 target price on shares of QuinStreet in a research report on Thursday. B. Riley raised shares of QuinStreet from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $19.00 in a research report on Thursday, November 30th. StockNews.com raised shares of QuinStreet to a “sell” rating in a research report on Tuesday, January 30th. Finally, Stephens upped their price objective on shares of QuinStreet from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.20.

View Our Latest Analysis on QNST

QuinStreet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for QuinStreet (NASDAQ:QNST)

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