Fmr LLC Raises Stake in QuinStreet, Inc. (NASDAQ:QNST)

Fmr LLC lifted its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,233,345 shares of the technology company’s stock after buying an additional 109,892 shares during the period. Fmr LLC owned approximately 3.97% of QuinStreet worth $42,724,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in QuinStreet by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company’s stock valued at $9,480,000 after acquiring an additional 40,236 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of QuinStreet by 184.9% during the third quarter. Intech Investment Management LLC now owns 46,183 shares of the technology company’s stock worth $883,000 after purchasing an additional 29,973 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of QuinStreet during the third quarter worth $477,000. Quest Partners LLC purchased a new position in QuinStreet in the 3rd quarter valued at $291,000. Finally, US Bancorp DE raised its position in QuinStreet by 880.3% during the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock worth $27,000 after buying an additional 1,250 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Insider Activity at QuinStreet

In other news, Director Stuart Huizinga sold 7,020 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $23.21, for a total value of $162,934.20. Following the sale, the director now owns 174,903 shares in the company, valued at approximately $4,059,498.63. This represents a 3.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Glickman sold 30,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total transaction of $678,900.00. Following the transaction, the director now directly owns 113,140 shares in the company, valued at $2,560,358.20. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock valued at $910,374 over the last ninety days. Corporate insiders own 5.00% of the company’s stock.

QuinStreet Price Performance

QNST opened at $22.14 on Friday. The stock has a market cap of $1.25 billion, a P/E ratio of -55.35 and a beta of 1.07. QuinStreet, Inc. has a 1-year low of $11.22 and a 1-year high of $26.27. The stock’s 50 day simple moving average is $20.62 and its 200 day simple moving average is $18.78.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The company had revenue of $279.22 million for the quarter, compared to analyst estimates of $222.68 million. During the same period in the prior year, the company posted ($0.19) EPS. QuinStreet’s quarterly revenue was up 125.3% on a year-over-year basis. Research analysts expect that QuinStreet, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on QNST. Stephens lifted their target price on shares of QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd. B. Riley increased their target price on QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Lake Street Capital lifted their price target on QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Finally, Craig Hallum increased their price objective on QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

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.