Allspring Global Investments Holdings LLC Takes $486,000 Position in QuinStreet, Inc. (NASDAQ:QNST)

Allspring Global Investments Holdings LLC bought a new stake in shares of QuinStreet, Inc. (NASDAQ:QNST) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,086 shares of the technology company’s stock, valued at approximately $486,000.

Several other large investors also recently modified their holdings of the business. US Bancorp DE grew its stake in QuinStreet by 880.3% in the third quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,250 shares in the last quarter. Quantbot Technologies LP acquired a new position in QuinStreet in the third quarter worth about $29,000. KBC Group NV grew its stake in QuinStreet by 64.5% in the fourth 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 in the last quarter. Quarry LP grew its stake in QuinStreet by 279.7% in the third quarter. Quarry LP now owns 8,681 shares of the technology company’s stock worth $166,000 after purchasing an additional 6,395 shares in the last quarter. Finally, Centiva Capital LP acquired a new position in QuinStreet in the third quarter worth about $244,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at QuinStreet

In related news, Director Stuart Huizinga sold 2,980 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $23.00, for a total value of $68,540.00. Following the transaction, the director now directly owns 171,923 shares in the company, valued at $3,954,229. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gregory Wong sold 8,516 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $22.88, for a total transaction of $194,846.08. Following the completion of the transaction, the chief financial officer now owns 337,031 shares in the company, valued at $7,711,269.28. This represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,496 shares of company stock valued at $513,586 over the last quarter. 5.00% of the stock is owned by company insiders.

Analyst Ratings Changes

QNST has been the subject of a number of research reports. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Lake Street Capital upped their price target on QuinStreet from $25.00 to $27.00 and gave the company a “hold” rating in a report on Friday, February 7th. Stephens lifted their price objective on shares of QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Barrington Research restated an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a report on Friday, February 7th. Finally, Craig Hallum lifted their price objective on shares of QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a research note 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 stock. According to data from MarketBeat.com, QuinStreet currently has an average rating of “Moderate Buy” and an average price target of $29.80.

QuinStreet Stock Performance

Shares of QNST opened at $19.85 on Tuesday. The company has a 50-day simple moving average of $22.80 and a 200-day simple moving average of $20.91. The firm has a market capitalization of $1.12 billion, a P/E ratio of -90.23 and a beta of 1.06. QuinStreet, Inc. has a 52 week low of $14.14 and a 52 week high of $26.27.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. As a group, equities analysts forecast that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

QuinStreet 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.