State Street Corp Grows Holdings in QuinStreet, Inc. (NASDAQ:QNST)

State Street Corp increased its stake in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 2.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,989,976 shares of the technology company's stock after buying an additional 41,538 shares during the quarter. State Street Corp owned about 3.54% of QuinStreet worth $38,068,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its holdings in shares of QuinStreet by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 26,400 shares of the technology company's stock worth $438,000 after acquiring an additional 600 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in QuinStreet by 2.3% in the third quarter. State of Alaska Department of Revenue now owns 31,544 shares of the technology company's stock valued at $603,000 after acquiring an additional 712 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in QuinStreet by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 20,539 shares of the technology company's stock valued at $341,000 after acquiring an additional 719 shares in the last quarter. US Bancorp DE lifted its stake in QuinStreet by 880.3% in the third quarter. US Bancorp DE now owns 1,392 shares of the technology company's stock worth $27,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in QuinStreet during the 3rd quarter worth approximately $29,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

QuinStreet Trading Up 0.7 %

Shares of QuinStreet stock traded up $0.14 during trading hours on Friday, hitting $21.44. 1,755,750 shares of the company were exchanged, compared to its average volume of 415,530. The business has a 50-day moving average of $21.19 and a 200-day moving average of $19.04. QuinStreet, Inc. has a 1 year low of $11.22 and a 1 year high of $26.27. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -53.60 and a beta of 1.07.

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

Analyst Ratings Changes

Several equities analysts recently commented on QNST shares. 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. Barrington Research reiterated an "outperform" rating and issued a $29.00 price target on shares of QuinStreet in a research note on Friday, December 6th. B. Riley boosted their price objective on shares of QuinStreet from $24.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Lake Street Capital upped their target price on shares of QuinStreet from $20.00 to $25.00 and gave the company a "hold" rating in a report on Tuesday, November 5th. Finally, StockNews.com lowered QuinStreet from a "hold" rating to a "sell" rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, QuinStreet presently has a consensus 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 the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total value of $678,900.00. Following the sale, the director now owns 113,140 shares of the company's stock, valued at approximately $2,560,358.20. This represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stuart Huizinga sold 7,020 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $23.21, for a total transaction of $162,934.20. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $910,374 in the last three months. 5.00% of the stock is currently owned by company insiders.

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.