QuinStreet, Inc. (NASDAQ:QNST) Position Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in QuinStreet, Inc. (NASDAQ:QNST) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,641 shares of the technology company’s stock after purchasing an additional 639 shares during the quarter. Principal Financial Group Inc. owned 0.47% of QuinStreet worth $5,005,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in shares of QuinStreet by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 394,775 shares of the technology company’s stock valued at $6,549,000 after buying an additional 9,537 shares in the last quarter. Rhumbline Advisers raised its position in shares of QuinStreet by 1.1% during the second quarter. Rhumbline Advisers now owns 156,530 shares of the technology company’s stock worth $2,597,000 after purchasing an additional 1,652 shares during the period. Roubaix Capital LLC lifted its holdings in shares of QuinStreet by 28.3% during the second quarter. Roubaix Capital LLC now owns 129,315 shares of the technology company’s stock valued at $2,145,000 after purchasing an additional 28,547 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of QuinStreet in the 2nd quarter valued at $175,000. Finally, Texas Permanent School Fund Corp increased its stake in QuinStreet by 21.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 55,240 shares of the technology company’s stock worth $916,000 after purchasing an additional 9,602 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other QuinStreet news, Director Matthew Glickman sold 30,000 shares of QuinStreet stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total transaction of $678,900.00. Following the sale, the director now directly owns 113,140 shares of the company’s stock, valued at approximately $2,560,358.20. The trade was a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stuart Huizinga sold 2,980 shares of the stock in a transaction that occurred 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. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,000 shares of company stock worth $910,374. Company insiders own 5.00% of the company’s stock.

QuinStreet Trading Up 1.3 %

NASDAQ QNST opened at $23.36 on Friday. The company has a market cap of $1.31 billion, a P/E ratio of -58.40 and a beta of 1.07. QuinStreet, Inc. has a 1 year low of $11.22 and a 1 year high of $26.27. The company has a fifty day simple moving average of $21.98 and a 200 day simple moving average of $19.44.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. QuinStreet had a negative net margin of 2.88% and a negative return on equity of 8.79%. The firm had revenue of $279.22 million during the quarter, compared to the consensus estimate of $222.68 million. During the same period in the prior year, the firm earned ($0.19) EPS. The business’s revenue was up 125.3% on a year-over-year basis. Equities research analysts forecast that QuinStreet, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QNST has been the subject of a number of analyst reports. Craig Hallum upped their price objective on shares of QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. StockNews.com lowered QuinStreet from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Stephens lifted their price target on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Barrington Research restated an “outperform” rating and set a $29.00 price objective on shares of QuinStreet in a research report on Friday, December 6th. Finally, Lake Street Capital lifted their target price on QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, QuinStreet currently has an average rating of “Moderate Buy” and an average price target of $29.00.

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.