JPMorgan Chase & Co. Buys 127,689 Shares of QuinStreet, Inc. (NASDAQ:QNST)

JPMorgan Chase & Co. lifted its stake in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 39.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 449,589 shares of the technology company's stock after acquiring an additional 127,689 shares during the period. JPMorgan Chase & Co. owned 0.80% of QuinStreet worth $8,601,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of QNST. Rhumbline Advisers lifted its holdings in shares of QuinStreet by 1.1% in the second quarter. Rhumbline Advisers now owns 156,530 shares of the technology company's stock valued at $2,597,000 after purchasing an additional 1,652 shares in the last quarter. Victory Capital Management Inc. purchased a new position in QuinStreet during the second quarter worth about $175,000. Texas Permanent School Fund Corp grew its position in QuinStreet by 21.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 55,240 shares of the technology company's stock worth $916,000 after purchasing an additional 9,602 shares in the last quarter. American Century Companies Inc. increased its stake in QuinStreet by 27.5% in the 2nd quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company's stock valued at $33,763,000 after buying an additional 438,947 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in QuinStreet by 26.1% in the 2nd quarter. Hsbc Holdings PLC now owns 14,000 shares of the technology company's stock valued at $225,000 after buying an additional 2,895 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QNST has been the topic of a number of research analyst reports. Lake Street Capital boosted their price target on shares of QuinStreet from $20.00 to $25.00 and gave the stock a "hold" rating in a report on Tuesday, November 5th. Barrington Research reaffirmed an "outperform" rating and issued a $29.00 price target on shares of QuinStreet in a report on Friday, December 6th. StockNews.com raised QuinStreet from a "sell" rating to a "hold" rating in a report on Monday, January 6th. Stephens boosted their target price on QuinStreet from $23.00 to $27.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Finally, B. Riley increased their price target on QuinStreet from $24.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $29.00.

Insiders Place Their Bets

In other QuinStreet news, Director Matthew Glickman sold 30,000 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were 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 in the company, valued at $2,560,358.20. This represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stuart Huizinga sold 2,980 shares of QuinStreet stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $23.00, for a total value of $68,540.00. Following the completion of the transaction, the director now directly owns 171,923 shares in the company, valued at $3,954,229. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock worth $910,374 in the last ninety days. 5.00% of the stock is currently owned by insiders.

QuinStreet Stock Up 0.2 %

NASDAQ:QNST traded up $0.05 during mid-day trading on Tuesday, hitting $21.51. 75,975 shares of the stock traded hands, compared to its average volume of 313,834. The business's 50-day moving average price is $22.31 and its 200 day moving average price is $19.81. The company has a market cap of $1.21 billion, a PE ratio of -53.78 and a beta of 1.07. QuinStreet, Inc. has a 12-month low of $11.49 and a 12-month high of $26.27.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, beating analysts' consensus estimates 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 firm 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 earned ($0.19) EPS. The business's revenue for the quarter was up 125.3% on a year-over-year basis. Analysts anticipate that QuinStreet, Inc. will post 0.15 earnings per share for the current fiscal year.

QuinStreet Company 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.