Thrivent Financial for Lutherans Decreases Stock Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Thrivent Financial for Lutherans cut its holdings in QuinStreet, Inc. (NASDAQ:QNST) by 78.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 582,975 shares of the technology company’s stock after selling 2,104,673 shares during the period. Thrivent Financial for Lutherans owned about 1.04% of QuinStreet worth $13,449,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in QNST. Quantbot Technologies LP purchased a new position in QuinStreet in the third quarter worth about $29,000. Arcadia Investment Management Corp MI bought a new stake in shares of QuinStreet in the 4th quarter valued at approximately $38,000. KBC Group NV boosted its holdings in shares of QuinStreet by 64.5% in the 4th quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock worth $82,000 after purchasing an additional 1,396 shares during the period. PNC Financial Services Group Inc. increased its position in shares of QuinStreet by 43.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company’s stock valued at $88,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in QuinStreet during the 4th quarter valued at $112,000. 97.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. B. Riley reiterated a “buy” rating and set a $34.00 price objective (up previously from $32.00) on shares of QuinStreet in a research report on Friday, February 7th. StockNews.com upgraded shares of QuinStreet from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Barrington Research reissued an “outperform” rating and issued a $29.00 price objective on shares of QuinStreet in a research note on Friday, February 7th. Finally, Lake Street Capital upped their target price on QuinStreet from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.80.

QuinStreet Stock Performance

QuinStreet stock opened at $18.58 on Friday. QuinStreet, Inc. has a fifty-two week low of $15.20 and a fifty-two week high of $26.27. The company has a market capitalization of $1.05 billion, a PE ratio of -84.45 and a beta of 1.13. The company has a 50 day moving average price of $21.11 and a 200-day moving average price of $20.94.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Thursday, February 6th. The technology company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. On average, analysts forecast that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other news, CEO Douglas Valenti sold 10,000 shares of QuinStreet stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total value of $250,200.00. Following the transaction, the chief executive officer now directly owns 1,836,754 shares in the company, valued at approximately $45,955,585.08. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory Wong sold 8,516 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total value of $194,846.08. Following the sale, the chief financial officer now owns 337,031 shares of the company’s stock, valued at $7,711,269.28. This trade represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

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.