Charles Schwab Investment Management Inc. Raises Position in QuinStreet, Inc. (NASDAQ:QNST)

Charles Schwab Investment Management Inc. lifted its stake in QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 8.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 495,538 shares of the technology company's stock after buying an additional 40,236 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.88% of QuinStreet worth $9,480,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. American Century Companies Inc. raised its holdings in QuinStreet by 27.5% in the 2nd quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company's stock worth $33,763,000 after purchasing an additional 438,947 shares during the period. Driehaus Capital Management LLC raised its holdings in QuinStreet by 17.6% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company's stock worth $25,050,000 after purchasing an additional 225,720 shares during the period. Millennium Management LLC raised its holdings in QuinStreet by 7.5% in the 2nd quarter. Millennium Management LLC now owns 804,223 shares of the technology company's stock worth $13,342,000 after purchasing an additional 55,889 shares during the period. First Eagle Investment Management LLC raised its holdings in QuinStreet by 0.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 553,223 shares of the technology company's stock worth $9,178,000 after purchasing an additional 4,000 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in QuinStreet by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 394,775 shares of the technology company's stock worth $6,549,000 after purchasing an additional 9,537 shares during the period. Hedge funds and other institutional investors own 97.83% of the company's stock.

QuinStreet Stock Performance

Shares of QNST traded down $0.03 during midday trading on Tuesday, hitting $21.81. 252,671 shares of the stock were exchanged, compared to its average volume of 413,297. QuinStreet, Inc. has a 52-week low of $11.22 and a 52-week high of $26.27. The stock has a fifty day simple moving average of $20.67 and a 200 day simple moving average of $18.81. The firm has a market cap of $1.23 billion, a P/E ratio of -54.53 and a beta of 1.07.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its quarterly 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. The business had revenue of $279.22 million during the quarter, compared to analyst estimates of $222.68 million. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The company's quarterly revenue was up 125.3% on a year-over-year basis. During the same period last year, the business posted ($0.19) earnings per share. As a group, equities research analysts forecast that QuinStreet, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QNST. Craig Hallum increased their target price on QuinStreet from $25.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. B. Riley increased their target price on QuinStreet from $24.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Stephens increased their target price on QuinStreet from $23.00 to $27.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Barrington Research reissued an "outperform" rating and set a $29.00 target price on shares of QuinStreet in a report on Friday. Finally, Lake Street Capital increased their target price on QuinStreet from $20.00 to $25.00 and gave the company a "hold" rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, QuinStreet presently has an average rating of "Moderate Buy" and a consensus price target of $29.00.

Insider Activity

In other QuinStreet news, Director Matthew Glickman sold 30,000 shares of QuinStreet stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total value of $678,900.00. Following the transaction, the director now directly owns 113,140 shares in the company, valued at approximately $2,560,358.20. The trade was a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stuart Huizinga sold 2,980 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $23.00, for a total transaction of $68,540.00. Following the sale, 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. Over the last three months, insiders have sold 40,000 shares of company stock worth $910,374. Corporate insiders own 5.00% of the company's stock.

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.