Matthew Glickman, a director at QuinStreet , Inc. (NASDAQ:QNST), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Glickman sold a total of 30,000 shares of QuinStreet common stock. The sales took place on November 12, 2024, at prices ranging from $21.90 to $23.06 per share, resulting in a total transaction value of approximately $678,934.
Following these transactions, Glickman retains direct ownership of 113,140 shares. Additionally, he holds 10,000 shares indirectly through a trust. These sales highlight a notable shift in Glickman's investment in QuinStreet, a company known for its digital marketing services. Investors often closely monitor such insider transactions as potential indicators of company performance and market sentiment.
In other recent news, QuinStreet, Inc. has seen impressive financial growth, with a 125% year-over-year increase in revenue, reaching a new quarterly record of $279.2 million. This growth was primarily driven by a substantial 664% surge in Auto Insurance revenue. The company's adjusted EBITDA also saw a significant rise, exceeding the $20 million mark. QuinStreet's positive performance led analysts at Craig-Hallum and Stephens to raise their price targets to $32.00 and $27.00, respectively, while maintaining positive ratings on the stock.
The robust performance is attributed to the expansion of marketing budgets across the insurance industry and the shift from traditional calls to digital clicks. In light of these recent developments, QuinStreet has raised its full-year revenue outlook to approximately $1 billion, with adjusted EBITDA expected to fall between $75 million and $80 million. These figures reflect the company's continued financial improvement and the market's confidence in its ability to capitalize on future opportunities.
InvestingPro Insights
Matthew Glickman's recent sale of QuinStreet (NASDAQ:QNST) shares comes at a time when the company's stock has shown strong performance. According to InvestingPro data, QuinStreet has delivered a remarkable 80.1% total return over the past year, and a 62.4% return year-to-date. This robust performance may have influenced Glickman's decision to realize some gains.
Despite the insider sale, there are positive indicators for QuinStreet's future prospects. An InvestingPro Tip reveals that analysts anticipate sales growth in the current year, which aligns with the company's recent revenue growth of 37.05% over the last twelve months. Additionally, another InvestingPro Tip notes that net income is expected to grow this year, potentially signaling improved profitability.
It's worth noting that QuinStreet's market capitalization stands at $1.18 billion, reflecting its position in the digital marketing industry. The company's price-to-book ratio of 5.51 suggests that investors are placing a premium on its assets, which could be attributed to its growth prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for QuinStreet, providing deeper insights into the company's financial health and market position.
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