Swiss National Bank Buys Shares of 64,400 QuinStreet Inc (QNST)
Swiss National Bank bought a new position in QuinStreet Inc (NASDAQ:QNST) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 64,400 shares of the technology company’s stock, valued at approximately $818,000. Swiss National Bank owned 0.14% of QuinStreet as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new position in QuinStreet in the 2nd quarter worth $109,000. SG Americas Securities LLC bought a new position in QuinStreet in the 2nd quarter worth $116,000. Advisors Preferred LLC bought a new position in QuinStreet in the 2nd quarter worth $126,000. D.A. Davidson & CO. bought a new position in QuinStreet in the 2nd quarter worth $144,000. Finally, Barclays PLC raised its holdings in QuinStreet by 145.9% in the 1st quarter. Barclays PLC now owns 14,314 shares of the technology company’s stock worth $182,000 after purchasing an additional 8,493 shares during the period. 80.85% of the stock is currently owned by institutional investors.
QNST has been the topic of a number of recent research reports. BidaskClub raised QuinStreet from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 2nd. Northland Securities assumed coverage on QuinStreet in a research note on Thursday, June 21st. They issued an “outperform” rating and a $20.00 price target for the company. Craig Hallum assumed coverage on QuinStreet in a research note on Wednesday, June 27th. They issued a “buy” rating and a $20.00 price target for the company. Zacks Investment Research lowered QuinStreet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, Singular Research assumed coverage on QuinStreet in a research note on Friday, July 6th. They issued a “long” rating and a $16.75 price target for the company. Seven analysts have rated the stock with a buy rating, QuinStreet has an average rating of “Buy” and a consensus price target of $17.29.
QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.06. QuinStreet had a return on equity of 12.72% and a net margin of 3.94%. The business had revenue of $111.50 million during the quarter, compared to analyst estimates of $100.62 million. During the same quarter in the prior year, the business posted $0.06 EPS. QuinStreet’s revenue for the quarter was up 36.8% compared to the same quarter last year. equities analysts expect that QuinStreet Inc will post 0.54 earnings per share for the current fiscal year.
In other news, CEO Douglas Valenti sold 38,320 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $14.34, for a total transaction of $549,508.80. Following the completion of the transaction, the chief executive officer now owns 287,919 shares in the company, valued at $4,128,758.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James R. Simons sold 82,984 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $15.16, for a total value of $1,258,037.44. The disclosure for this sale can be found here. Insiders sold a total of 1,558,648 shares of company stock valued at $23,246,992 in the last quarter. 24.10% of the stock is currently owned by company insiders.
QuinStreet, Inc, an Internet performance marketing and media company, provides customer acquisition services for its clients in the United States and internationally. It offers online marketing services to its clients in the form of qualified leads, inquiries, clicks, calls, applications, customers, display advertisements, or impressions through its Websites or third-party publishers.
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