JPMorgan Chase & Co. Acquires 82,489 Shares of QuinStreet, Inc. (NASDAQ:QNST)

JPMorgan Chase & Co. increased its stake in QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 18.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 532,078 shares of the technology company's stock after buying an additional 82,489 shares during the period. JPMorgan Chase & Co. owned 0.95% of QuinStreet worth $12,275,000 as of its most recent filing with the Securities & Exchange Commission.

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

QuinStreet Trading Up 2.2 %

Shares of QNST stock traded up $0.34 on Tuesday, reaching $15.62. The company's stock had a trading volume of 372,786 shares, compared to its average volume of 469,850. QuinStreet, Inc. has a 1 year low of $14.39 and a 1 year high of $26.27. The stock's fifty day simple moving average is $18.89 and its 200-day simple moving average is $20.64. The company has a market capitalization of $882.05 million, a price-to-earnings ratio of -71.00 and a beta of 0.91.

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QuinStreet (NASDAQ:QNST - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The technology company reported ($0.03) earnings per share 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%. Equities research analysts forecast that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

Analysts Set New Price Targets

QNST has been the topic of a number of recent research reports. Barrington Research reissued an "outperform" rating and issued a $29.00 target price on shares of QuinStreet in a report on Wednesday, March 26th. B. Riley reiterated a "buy" rating and set a $34.00 price target (up previously from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. StockNews.com upgraded QuinStreet from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Lake Street Capital increased 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.80.

Insider Activity at QuinStreet

In related news, CFO Gregory Wong sold 8,516 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were 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 $7,711,269.28. This trade represents a 2.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas Valenti sold 10,000 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total transaction of $250,200.00. Following the completion of the transaction, the chief executive officer now owns 1,836,754 shares in the company, valued at $45,955,585.08. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by insiders.

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.