Geode Capital Management LLC Grows Position in QuinStreet, Inc. (NASDAQ:QNST)

Geode Capital Management LLC increased its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,270,766 shares of the technology company's stock after acquiring an additional 36,963 shares during the period. Geode Capital Management LLC owned approximately 2.26% of QuinStreet worth $24,315,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC grew its position in QuinStreet by 5.2% during the 3rd quarter. FMR LLC now owns 2,233,345 shares of the technology company's stock valued at $42,724,000 after purchasing an additional 109,892 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of QuinStreet by 27.5% in the second quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company's stock worth $33,763,000 after buying an additional 438,947 shares in the last quarter. State Street Corp grew its holdings in shares of QuinStreet by 2.1% during the third quarter. State Street Corp now owns 1,989,976 shares of the technology company's stock valued at $38,068,000 after buying an additional 41,538 shares during the last quarter. Driehaus Capital Management LLC increased its position in shares of QuinStreet by 17.6% during the second quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company's stock valued at $25,050,000 after acquiring an additional 225,720 shares in the last quarter. Finally, 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 acquiring an additional 55,889 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Analyst Ratings Changes

QNST has been the topic of several recent analyst reports. Lake Street Capital increased their target price on QuinStreet from $20.00 to $25.00 and gave the company a "hold" rating in a research note on Tuesday, November 5th. Stephens increased their price objective on QuinStreet from $23.00 to $27.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Craig Hallum boosted their target price on QuinStreet from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Barrington Research reaffirmed an "outperform" rating and set a $29.00 price target on shares of QuinStreet in a report on Friday, December 6th. Finally, B. Riley boosted their price objective on shares of QuinStreet from $24.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.00.

QuinStreet Stock Down 3.4 %

Shares of QuinStreet stock traded down $0.85 during trading hours on Friday, reaching $23.85. 473,284 shares of the stock traded hands, compared to its average volume of 417,520. QuinStreet, Inc. has a one year low of $11.22 and a one year high of $26.27. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -59.63 and a beta of 1.07. The company has a 50 day moving average price of $21.60 and a 200 day moving average price of $19.27.

QuinStreet (NASDAQ:QNST - Get Free Report) last announced its earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.07. QuinStreet had a negative net margin of 2.88% and a negative return on equity of 8.79%. The company had revenue of $279.22 million during the quarter, compared to analyst estimates of $222.68 million. During the same period in the previous year, the business posted ($0.19) earnings per share. The firm's quarterly revenue was up 125.3% compared to the same quarter last year. Sell-side analysts anticipate that QuinStreet, Inc. will post 0.15 earnings per share for the current year.

Insider Transactions at QuinStreet

In other QuinStreet news, Director Stuart Huizinga sold 7,020 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $23.21, for a total value of $162,934.20. Following the completion of the transaction, the director now directly owns 174,903 shares in the company, valued at $4,059,498.63. This represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew Glickman sold 30,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total transaction of $678,900.00. Following the completion of the sale, the director now directly owns 113,140 shares of the company's stock, valued at approximately $2,560,358.20. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $910,374 in the last three months. Corporate insiders own 5.00% of the company's stock.

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.