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

Allspring Global Investments Holdings LLC purchased a new stake in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 21,086 shares of the technology company's stock, valued at approximately $486,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. increased its position in shares of QuinStreet by 39.7% during the third quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company's stock valued at $8,601,000 after buying an additional 127,689 shares during the period. State Street Corp grew its holdings in shares of QuinStreet by 2.1% during the 3rd quarter. State Street Corp now owns 1,989,976 shares of the technology company's stock worth $38,068,000 after acquiring an additional 41,538 shares during the period. Barclays PLC raised its position in shares of QuinStreet by 149.7% in the 3rd quarter. Barclays PLC now owns 127,404 shares of the technology company's stock worth $2,436,000 after acquiring an additional 76,389 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of QuinStreet by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company's stock valued at $24,315,000 after purchasing an additional 36,963 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in QuinStreet by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company's stock worth $9,480,000 after purchasing an additional 40,236 shares during the period. Hedge funds and other institutional investors own 97.83% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Stephens increased their target price on QuinStreet from $23.00 to $27.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Barrington Research restated an "outperform" rating and set a $29.00 price objective on shares of QuinStreet in a research note on Friday, February 7th. Lake Street Capital lifted their target price on shares of QuinStreet from $25.00 to $27.00 and gave the stock a "hold" rating in a report on Friday, February 7th. Craig Hallum raised their price target on shares of QuinStreet from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, StockNews.com raised QuinStreet from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, QuinStreet currently has an average rating of "Moderate Buy" and a consensus price target of $29.80.

Insiders Place Their Bets

In other QuinStreet news, 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 sale, the chief financial officer now directly owns 337,031 shares of the company's stock, valued at $7,711,269.28. This trade represents a 2.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas Valenti sold 10,000 shares of QuinStreet stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $25.02, for a total transaction of $250,200.00. Following the sale, the chief executive officer now owns 1,836,754 shares in the company, valued at approximately $45,955,585.08. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.00% of the company's stock.

QuinStreet Price Performance

QuinStreet stock traded up $0.28 during mid-day trading on Friday, reaching $19.58. 542,185 shares of the stock traded hands, compared to its average volume of 531,368. QuinStreet, Inc. has a 12-month low of $14.14 and a 12-month high of $26.27. The business's 50-day moving average is $22.63 and its 200-day moving average is $20.92. The stock has a market capitalization of $1.11 billion, a PE ratio of -89.00 and a beta of 1.06.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The technology company reported ($0.03) earnings per share (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%. Equities analysts anticipate that QuinStreet, Inc. will post 0.12 EPS 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.