ExodusPoint Capital Management LP Invests $1.01 Million in QuinStreet, Inc. (NASDAQ:QNST)

ExodusPoint Capital Management LP acquired a new stake in QuinStreet, Inc. (NASDAQ:QNST - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 43,974 shares of the technology company's stock, valued at approximately $1,014,000. ExodusPoint Capital Management LP owned about 0.08% of QuinStreet as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in QNST. JPMorgan Chase & Co. increased its position in QuinStreet by 39.7% in the 3rd 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 in the last quarter. State Street Corp lifted its holdings in shares of QuinStreet by 2.1% in the 3rd quarter. State Street Corp now owns 1,989,976 shares of the technology company's stock worth $38,068,000 after purchasing an additional 41,538 shares in the last quarter. Barclays PLC grew its position in QuinStreet by 149.7% in the 3rd quarter. Barclays PLC now owns 127,404 shares of the technology company's stock valued at $2,436,000 after purchasing an additional 76,389 shares during the period. Geode Capital Management LLC increased its stake in QuinStreet by 3.0% during the 3rd 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, Allspring Global Investments Holdings LLC acquired a new position in QuinStreet during the fourth quarter worth $486,000. 97.83% of the stock is owned by institutional investors.

QuinStreet Trading Up 0.3 %

Shares of QNST traded up $0.04 during trading hours on Wednesday, reaching $15.66. 33,959 shares of the company's stock traded hands, compared to its average volume of 468,142. QuinStreet, Inc. has a 12 month low of $14.39 and a 12 month high of $26.27. The stock has a market cap of $884.30 million, a PE ratio of -71.07 and a beta of 0.91. The firm's 50 day simple moving average is $18.70 and its 200-day simple moving average is $20.60.

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QuinStreet (NASDAQ:QNST - Get Free Report) last issued its quarterly earnings results 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 return on equity of 4.13% and a negative net margin of 1.31%. As a group, analysts expect that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on QNST. StockNews.com raised shares of QuinStreet from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Lake Street Capital increased their price objective on QuinStreet from $25.00 to $27.00 and gave the stock a "hold" rating in a research note on Friday, February 7th. B. Riley reaffirmed a "buy" rating and set a $34.00 target price (up previously from $32.00) on shares of QuinStreet in a research report on Friday, February 7th. Finally, Barrington Research reiterated an "outperform" rating and issued a $29.00 target price on shares of QuinStreet in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, QuinStreet presently has an average rating of "Moderate Buy" and an average price target of $29.80.

Insiders Place Their Bets

In other news, CFO Gregory Wong sold 8,516 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total value of $194,846.08. Following the completion of the sale, the chief financial officer now owns 337,031 shares of the company's stock, valued at approximately $7,711,269.28. The trade was a 2.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas Valenti sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total value of $250,200.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.00% of the company's stock.

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.