Hsbc Holdings PLC grew its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,010 shares of the technology company’s stock after purchasing an additional 2,600 shares during the quarter. Hsbc Holdings PLC’s holdings in QuinStreet were worth $775,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in QuinStreet by 65.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,485 shares of the technology company’s stock valued at $118,000 after buying an additional 2,168 shares during the period. Jane Street Group LLC acquired a new position in shares of QuinStreet in the 3rd quarter worth approximately $159,000. ProShare Advisors LLC purchased a new position in shares of QuinStreet during the 4th quarter worth approximately $249,000. Advisory Research Inc. acquired a new stake in QuinStreet in the 4th quarter valued at approximately $250,000. Finally, Sigma Planning Corp raised its position in QuinStreet by 13.6% in the fourth quarter. Sigma Planning Corp now owns 11,780 shares of the technology company’s stock valued at $253,000 after purchasing an additional 1,410 shares during the period. 86.61% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Gregory Wong sold 69,083 shares of the firm’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $24.54, for a total transaction of $1,695,296.82. Following the transaction, the chief financial officer now directly owns 168,354 shares in the company, valued at $4,131,407.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas Valenti sold 36,701 shares of QuinStreet stock in a transaction on Friday, March 26th. The shares were sold at an average price of $20.16, for a total transaction of $739,892.16. Following the completion of the transaction, the chief executive officer now directly owns 379,642 shares in the company, valued at $7,653,582.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 223,959 shares of company stock valued at $4,898,340. Insiders own 9.00% of the company’s stock.
QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Wednesday, February 3rd. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.15. QuinStreet had a net margin of 6.29% and a return on equity of 12.51%. The company had revenue of $134.97 million during the quarter, compared to the consensus estimate of $119.83 million. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, research analysts expect that QuinStreet, Inc. will post 0.06 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on QNST. Zacks Investment Research raised QuinStreet from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Friday, March 5th. Lake Street Capital lifted their target price on QuinStreet from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. Finally, Barrington Research boosted their price target on shares of QuinStreet from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, February 4th.
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 to its clients in the form of qualified clicks, leads, inquiries, calls, applications, customers, display advertisements, or impressions through its websites or third-party publishers.
Read More: Hold Rating
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