State of Wyoming Acquires Shares of 27,314 QuinStreet, Inc. $QNST

State of Wyoming acquired a new position in QuinStreet, Inc. (NASDAQ:QNST) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 27,314 shares of the technology company’s stock, valued at approximately $400,000.

Other large investors have also recently made changes to their positions in the company. Lazard Asset Management LLC raised its position in shares of 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. Balyasny Asset Management L.P. grew its position in QuinStreet by 1,000.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 900,264 shares of the technology company’s stock worth $12,937,000 after acquiring an additional 1,000,264 shares in the last quarter. Heartland Advisors Inc. purchased a new position in QuinStreet in the first quarter worth about $6,005,000. Millennium Management LLC increased its stake in QuinStreet by 213.3% during the first quarter. Millennium Management LLC now owns 714,482 shares of the technology company’s stock worth $12,746,000 after acquiring an additional 486,406 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in QuinStreet by 42.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,595,184 shares of the technology company’s stock worth $22,923,000 after acquiring an additional 472,407 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.

Insider Transactions at QuinStreet

In related news, 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 value of $15,408,435.50. Following the completion of the sale, the chief executive officer owned 996,278 shares in the company, valued at approximately $20,423,699. The trade was a 43.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock was sold at an average price of $20.85, for a total value of $312,750.00. Following the completion of the transaction, the director directly owned 34,979 shares in the company, valued at approximately $729,312.15. This trade represents a 30.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 862,026 shares of company stock valued at $17,423,897. 5.00% of the stock is currently owned by company insiders.

QuinStreet Stock Performance

QNST stock opened at $20.76 on Wednesday. QuinStreet, Inc. has a twelve month low of $10.28 and a twelve month high of $22.29. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 14.72 and a beta of 0.66. The business’s fifty day simple moving average is $16.01 and its two-hundred day simple moving average is $13.47. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.22.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $373.88 million for the quarter, compared to analysts’ expectations of $359.95 million. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. Analysts predict that QuinStreet, Inc. will post 0.94 earnings per share for the current year.

Analyst Ratings Changes

QNST has been the subject of several analyst reports. Wall Street Zen raised QuinStreet from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings raised QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 9th. B. Riley Financial restated a “buy” rating on shares of QuinStreet in a report on Friday, August 7th. Zacks Research upgraded QuinStreet from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 30th. Finally, Lake Street Capital upgraded shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

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.