Principal Financial Group Inc. trimmed its stake in shares of QuinStreet, Inc. (NASDAQ:QNST – Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,430 shares of the technology company’s stock after selling 4,085 shares during the quarter. Principal Financial Group Inc. owned 0.58% of QuinStreet worth $4,958,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State of Wyoming lifted its holdings in shares of QuinStreet by 62.2% in the 4th quarter. State of Wyoming now owns 7,193 shares of the technology company’s stock valued at $103,000 after purchasing an additional 2,757 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of QuinStreet by 36.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,075 shares of the technology company’s stock valued at $116,000 after purchasing an additional 2,174 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of QuinStreet in the 1st quarter valued at about $173,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of QuinStreet in the 3rd quarter valued at about $179,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of QuinStreet in the 1st quarter valued at about $196,000. 89.78% of the stock is owned by institutional investors and hedge funds.
QuinStreet Price Performance
QNST opened at $9.92 on Friday. The company’s 50 day simple moving average is $9.23 and its 200-day simple moving average is $11.32. QuinStreet, Inc. has a one year low of $6.79 and a one year high of $18.18. The stock has a market capitalization of $541.53 million, a P/E ratio of -7.81 and a beta of 0.99.
Wall Street Analysts Forecast Growth
Several research firms have commented on QNST. TheStreet downgraded QuinStreet from a “c-” rating to a “d+” rating in a research note on Wednesday, May 10th. B. Riley assumed coverage on QuinStreet in a research note on Tuesday. They set a “neutral” rating and a $10.00 target price for the company. Finally, StockNews.com assumed coverage on QuinStreet in a research note on Thursday, August 17th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.40.
Insider Activity at QuinStreet
In related news, CFO Gregory Wong sold 70,000 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $9.01, for a total value of $630,700.00. Following the transaction, the chief financial officer now directly owns 256,884 shares in the company, valued at $2,314,524.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.10% of the stock is currently owned by company insiders.
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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