QuinStreet, Inc. (NASDAQ:QNST) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its stake in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 45.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 381,941 shares of the technology company's stock after acquiring an additional 119,154 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.68% of QuinStreet worth $8,811,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QNST. Vanguard Group Inc. increased its position in shares of QuinStreet by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 4,002,030 shares of the technology company's stock worth $92,327,000 after acquiring an additional 26,169 shares during the last quarter. FMR LLC increased its holdings in QuinStreet by 5.2% during the 3rd quarter. FMR LLC now owns 2,233,345 shares of the technology company's stock worth $42,724,000 after purchasing an additional 109,892 shares during the last quarter. American Century Companies Inc. raised its position in shares of QuinStreet by 9.9% in the 4th quarter. American Century Companies Inc. now owns 2,228,568 shares of the technology company's stock valued at $51,413,000 after purchasing an additional 201,052 shares in the last quarter. State Street Corp raised its position in shares of QuinStreet by 2.1% in the 3rd quarter. State Street Corp now owns 1,989,976 shares of the technology company's stock valued at $38,068,000 after purchasing an additional 41,538 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of QuinStreet by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company's stock valued at $24,315,000 after buying an additional 36,963 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Remove Ads

Insider Buying and Selling

In other news, CFO Gregory Wong sold 8,516 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $22.88, for a total transaction of $194,846.08. Following the completion of the transaction, the chief financial officer now owns 337,031 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas Valenti sold 10,000 shares of the 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 sale, the chief executive officer now directly 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. Company insiders own 5.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on QNST. Barrington Research reaffirmed an "outperform" rating and issued a $29.00 price target on shares of QuinStreet in a report on Wednesday, March 26th. Lake Street Capital boosted their target price on shares of QuinStreet from $25.00 to $27.00 and gave the stock a "hold" rating 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, B. Riley reiterated a "buy" rating and issued a $34.00 price target (up from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, QuinStreet currently has an average rating of "Moderate Buy" and a consensus target price of $29.80.

QuinStreet Stock Performance

Shares of NASDAQ QNST traded down $0.08 during midday trading on Friday, hitting $15.21. The company's stock had a trading volume of 648,840 shares, compared to its average volume of 468,898. QuinStreet, Inc. has a 1-year low of $14.39 and a 1-year high of $26.27. The firm's fifty day moving average price is $19.08 and its 200-day moving average price is $20.65. The firm has a market cap of $858.89 million, a P/E ratio of -69.14 and a beta of 0.91.

QuinStreet (NASDAQ:QNST - Get Free Report) last issued its earnings results on Thursday, February 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, research analysts predict that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal 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.