Principal Financial Group Inc. Sells 10,868 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Principal Financial Group Inc. trimmed its position in QuinStreet, Inc. (NASDAQ:QNST) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 261,002 shares of the technology company’s stock after selling 10,868 shares during the quarter. Principal Financial Group Inc.’s holdings in QuinStreet were worth $4,330,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in QuinStreet by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 431,076 shares of the technology company’s stock worth $5,526,000 after acquiring an additional 14,520 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in QuinStreet by 6.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,866,930 shares of the technology company’s stock worth $23,934,000 after acquiring an additional 114,980 shares during the last quarter. First Eagle Investment Management LLC increased its stake in QuinStreet by 25.1% during the fourth quarter. First Eagle Investment Management LLC now owns 457,023 shares of the technology company’s stock worth $5,859,000 after acquiring an additional 91,687 shares during the last quarter. Allegheny Financial Group LTD increased its stake in QuinStreet by 8.3% during the fourth quarter. Allegheny Financial Group LTD now owns 166,453 shares of the technology company’s stock worth $2,134,000 after acquiring an additional 12,708 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in QuinStreet during the fourth quarter worth approximately $609,000. 97.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on QNST shares. Barrington Research reissued an “outperform” rating and set a $22.00 price objective on shares of QuinStreet in a research note on Friday, August 9th. Craig Hallum boosted their price objective on QuinStreet from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. B. Riley boosted their price objective on QuinStreet from $21.50 to $24.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Singular Research upgraded QuinStreet to a “moderate buy” rating in a research report on Tuesday, May 14th. Finally, StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.25.

QuinStreet Price Performance

Shares of NASDAQ:QNST opened at $18.44 on Wednesday. QuinStreet, Inc. has a 1 year low of $8.44 and a 1 year high of $20.50. The business has a 50 day simple moving average of $17.95 and a two-hundred day simple moving average of $17.28. The firm has a market capitalization of $1.03 billion, a PE ratio of -11.82 and a beta of 1.11.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $198.32 million during the quarter, compared to analyst estimates of $186.39 million. QuinStreet had a negative return on equity of 13.00% and a negative net margin of 5.11%. QuinStreet’s quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.03) earnings per share. Equities research analysts expect that QuinStreet, Inc. will post 0.08 EPS for the current fiscal year.

About QuinStreet

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.