QuinStreet, Inc. (NASDAQ:QNST) Stock Holdings Reduced by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its position in QuinStreet, Inc. (NASDAQ:QNST) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,472,073 shares of the technology company’s stock after selling 84,150 shares during the period. QuinStreet comprises about 1.0% of NewEdge Wealth LLC’s holdings, making the stock its 17th largest position. NewEdge Wealth LLC’s holdings in QuinStreet were worth $57,031,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of QuinStreet by 39.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company’s stock valued at $8,601,000 after buying an additional 127,689 shares in the last quarter. State Street Corp lifted its stake in QuinStreet by 2.1% in the third quarter. State Street Corp now owns 1,989,976 shares of the technology company’s stock valued at $38,068,000 after acquiring an additional 41,538 shares during the last quarter. Barclays PLC grew its position in QuinStreet by 149.7% in the third quarter. Barclays PLC now owns 127,404 shares of the technology company’s stock worth $2,436,000 after acquiring an additional 76,389 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of 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 purchasing an additional 36,963 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of QuinStreet by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company’s stock valued at $9,480,000 after purchasing an additional 40,236 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on QNST. Lake Street Capital upped their price objective on shares of QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Craig Hallum upped their price target on QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Stephens raised 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. StockNews.com raised QuinStreet from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, B. Riley reissued a “buy” rating and issued a $34.00 price target (up previously from $32.00) on shares of QuinStreet in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, QuinStreet currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.80.

Insider Buying and Selling at QuinStreet

In other news, CFO Gregory Wong sold 8,516 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total transaction of $194,846.08. Following the sale, the chief financial officer now directly owns 337,031 shares in the company, valued at approximately $7,711,269.28. The trade was a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stuart Huizinga sold 2,980 shares of the firm’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 of the company’s stock, valued at approximately $3,954,229. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,496 shares of company stock valued at $513,586 in the last quarter. Corporate insiders own 5.00% of the company’s stock.

QuinStreet Stock Down 1.6 %

Shares of NASDAQ:QNST opened at $19.59 on Thursday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -89.05 and a beta of 1.06. The business has a 50 day moving average price of $22.67 and a 200 day moving average price of $20.93. QuinStreet, Inc. has a twelve month low of $14.14 and a twelve month high of $26.27.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Thursday, February 6th. The technology company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. Analysts anticipate that QuinStreet, Inc. will post 0.12 EPS for the current year.

QuinStreet 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.