Geode Capital Management LLC Purchases 36,963 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Geode Capital Management LLC grew its position in QuinStreet, Inc. (NASDAQ:QNST) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,270,766 shares of the technology company’s stock after acquiring an additional 36,963 shares during the quarter. Geode Capital Management LLC owned 2.26% of QuinStreet worth $24,315,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of QNST. US Bancorp DE raised its stake in shares of QuinStreet by 880.3% in the third quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,250 shares in the last quarter. Quantbot Technologies LP bought a new stake in QuinStreet in the 3rd quarter valued at $29,000. Quarry LP raised its stake in shares of QuinStreet by 11,330.0% in the 2nd quarter. Quarry LP now owns 2,286 shares of the technology company’s stock valued at $38,000 after buying an additional 2,266 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of QuinStreet in the 2nd quarter valued at $175,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of QuinStreet by 26.1% during the 2nd quarter. Hsbc Holdings PLC now owns 14,000 shares of the technology company’s stock worth $225,000 after acquiring an additional 2,895 shares during the period. Institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

QNST has been the topic of a number of analyst reports. Barrington Research reissued an “outperform” rating and issued a $29.00 target price on shares of QuinStreet in a research note on Friday, December 6th. B. Riley raised their target price on QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Stephens boosted their price target on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com lowered QuinStreet from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Finally, Lake Street Capital boosted their target price on shares of QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, QuinStreet has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

Insider Buying and Selling at QuinStreet

In other news, Director Matthew Glickman sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total transaction of $678,900.00. Following the sale, the director now directly owns 113,140 shares of the company’s stock, valued at $2,560,358.20. This represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stuart Huizinga sold 2,980 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $23.00, for a total transaction of $68,540.00. Following the completion of the transaction, the director now owns 171,923 shares of the company’s stock, valued at $3,954,229. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,000 shares of company stock worth $910,374. 5.00% of the stock is currently owned by corporate insiders.

QuinStreet Price Performance

QNST stock opened at $23.85 on Friday. The business has a fifty day moving average price of $21.60 and a 200 day moving average price of $19.25. QuinStreet, Inc. has a fifty-two week low of $11.22 and a fifty-two week high of $26.27. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -59.63 and a beta of 1.07.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $222.68 million. During the same quarter in the prior year, the business earned ($0.19) earnings per share. The business’s revenue for the quarter was up 125.3% on a year-over-year basis. On average, equities analysts expect that QuinStreet, Inc. will post 0.15 earnings per share for the current fiscal year.

QuinStreet Company Profile

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.