Geode Capital Management LLC Has $29.93 Million Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Geode Capital Management LLC increased its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,297,160 shares of the technology company's stock after purchasing an additional 26,394 shares during the period. Geode Capital Management LLC owned approximately 2.31% of QuinStreet worth $29,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Arcadia Investment Management Corp MI bought a new position in QuinStreet in the fourth quarter valued at approximately $38,000. KBC Group NV lifted its position in QuinStreet by 64.5% in the 4th quarter. KBC Group NV now owns 3,562 shares of the technology company's stock valued at $82,000 after acquiring an additional 1,396 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in QuinStreet by 43.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company's stock valued at $88,000 after acquiring an additional 1,162 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in QuinStreet in the 4th quarter worth $112,000. Finally, BankPlus Trust Department bought a new position in QuinStreet during the 4th quarter worth about $198,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QuinStreet

In other news, CFO Gregory Wong sold 8,516 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total value of $194,846.08. Following the transaction, the chief financial officer now owns 337,031 shares of the company's stock, valued at approximately $7,711,269.28. This represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas Valenti sold 10,000 shares of the 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. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company's stock.

Analyst Upgrades and Downgrades

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

QuinStreet Stock Performance

NASDAQ:QNST traded up $0.71 during mid-day trading on Tuesday, hitting $16.59. The stock had a trading volume of 499,971 shares, compared to its average volume of 473,449. The company's 50 day simple moving average is $17.97 and its 200 day simple moving average is $20.50. The stock has a market cap of $936.82 million, a price-to-earnings ratio of -75.41 and a beta of 0.91. QuinStreet, Inc. has a twelve month low of $14.39 and a twelve month high of $26.27.

QuinStreet (NASDAQ:QNST - Get Free Report) last issued its earnings results on Thursday, February 6th. The technology company reported ($0.03) EPS for the quarter, missing the consensus estimate 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, 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.