QuinStreet, Inc. (NASDAQ:QNST) Shares Sold by Equitable Trust Co.

Equitable Trust Co. reduced its position in QuinStreet, Inc. (NASDAQ:QNST) by 7.1% in the 4th quarter, Holdings Channel reports. The firm owned 109,560 shares of the technology company’s stock after selling 8,385 shares during the quarter. Equitable Trust Co.’s holdings in QuinStreet were worth $2,528,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of QuinStreet by 39.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company’s stock worth $8,601,000 after purchasing an additional 127,689 shares during the last quarter. FMR LLC increased its position in shares of QuinStreet by 5.2% during the 3rd quarter. FMR LLC now owns 2,233,345 shares of the technology company’s stock worth $42,724,000 after purchasing an additional 109,892 shares during the last quarter. Barclays PLC increased its position in shares of QuinStreet by 149.7% during the 3rd quarter. Barclays PLC now owns 127,404 shares of the technology company’s stock worth $2,436,000 after purchasing an additional 76,389 shares during the last quarter. Portolan Capital Management LLC increased its position in shares of QuinStreet by 9.6% during the 3rd quarter. Portolan Capital Management LLC now owns 801,693 shares of the technology company’s stock worth $15,336,000 after purchasing an additional 70,408 shares during the last quarter. Finally, Inspire Investing LLC acquired a new stake in shares of QuinStreet during the 3rd quarter worth about $817,000. 97.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on QNST. Lake Street Capital raised their target price on QuinStreet from $25.00 to $27.00 and gave the company a “hold” rating in a report on Friday. B. Riley restated a “buy” rating and set a $34.00 target price (up from $32.00) on shares of QuinStreet in a report on Friday. Barrington Research restated an “outperform” rating and set a $29.00 target price on shares of QuinStreet in a report on Friday. Craig Hallum lifted their price objective on QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Stephens lifted their price objective on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, QuinStreet has a consensus rating of “Moderate Buy” and an average target price of $29.80.

QuinStreet Stock Performance

QuinStreet stock opened at $23.05 on Tuesday. The stock’s 50 day moving average price is $22.75 and its 200 day moving average price is $20.64. QuinStreet, Inc. has a 1-year low of $14.14 and a 1-year high of $26.27.

QuinStreet (NASDAQ:QNST) last posted its earnings results 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 return on equity of 4.16% and a negative net margin of 1.31%. As a group, sell-side analysts forecast that QuinStreet, Inc. will post 0.15 EPS for the current fiscal year.

Insider Activity

In related news, Director Stuart Huizinga sold 2,980 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $23.00, for a total value of $68,540.00. Following the completion of the transaction, the director now directly owns 171,923 shares in the company, valued at approximately $3,954,229. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Douglas Valenti sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $25.02, for a total value of $250,200.00. Following the completion of the transaction, the chief executive officer now owns 1,836,754 shares of the company’s stock, valued at $45,955,585.08. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock worth $481,674 over the last three months. 5.00% of the stock is currently owned by corporate insiders.

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.