Assenagon Asset Management S.A. Sells 1,056,052 Shares of QuinStreet, Inc. $QNST

Assenagon Asset Management S.A. decreased its holdings in QuinStreet, Inc. (NASDAQ:QNST) by 64.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 577,199 shares of the technology company’s stock after selling 1,056,052 shares during the period. Assenagon Asset Management S.A.’s holdings in QuinStreet were worth $6,932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of QNST. Farther Finance Advisors LLC lifted its stake in shares of QuinStreet by 10.2% during the 4th quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company’s stock valued at $113,000 after buying an additional 730 shares in the last quarter. FJ Capital Management LLC purchased a new position in QuinStreet in the 3rd quarter valued at approximately $135,000. Tripletail Wealth Management LLC grew its stake in QuinStreet by 35.2% in the 4th quarter. Tripletail Wealth Management LLC now owns 9,290 shares of the technology company’s stock valued at $133,000 after buying an additional 2,420 shares in the last quarter. Cerity Partners LLC bought a new stake in QuinStreet during the 2nd quarter valued at $170,000. Finally, Amundi bought a new stake in QuinStreet during the 3rd quarter valued at $166,000. Institutional investors own 97.83% of the company’s stock.

Insider Buying and Selling

In related news, CFO Gregory Wong sold 22,057 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $12.19, for a total transaction of $268,874.83. Following the completion of the transaction, the chief financial officer directly owned 400,682 shares in the company, valued at $4,884,313.58. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

QNST has been the subject of a number of analyst reports. Wall Street Zen raised QuinStreet from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Weiss Ratings lowered QuinStreet from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. Northland Securities assumed coverage on QuinStreet in a report on Tuesday, March 17th. They set an “outperform” rating and a $17.00 price objective on the stock. Finally, B. Riley Financial upgraded QuinStreet to a “strong-buy” rating in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.50.

QuinStreet Price Performance

Shares of NASDAQ:QNST opened at $14.14 on Monday. The firm has a fifty day moving average price of $12.54 and a two-hundred day moving average price of $12.83. The company has a market cap of $812.20 million, a price-to-earnings ratio of 12.40 and a beta of 0.70. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.18 and a quick ratio of 1.18. QuinStreet, Inc. has a one year low of $10.28 and a one year high of $17.13.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.14. QuinStreet had a net margin of 5.53% and a return on equity of 9.97%. The firm had revenue of $346.14 million for the quarter, compared to analysts’ expectations of $336.22 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The business’s quarterly revenue was up 28.3% on a year-over-year basis. Analysts anticipate that QuinStreet, Inc. will post 0.53 EPS for the current fiscal year.

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.