Teacher Retirement System of Texas Takes $465,000 Position in QuinStreet, Inc. (NASDAQ:QNST)

Teacher Retirement System of Texas bought a new position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,173 shares of the technology company's stock, valued at approximately $465,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in shares of QuinStreet by 8.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company's stock worth $9,480,000 after buying an additional 40,236 shares during the period. FMR LLC increased its position in shares of QuinStreet by 5.2% in 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. Quantbot Technologies LP acquired a new stake in shares of QuinStreet in the 3rd quarter valued at $29,000. BNP Paribas Financial Markets lifted its position in shares of QuinStreet by 145.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 52,209 shares of the technology company's stock worth $999,000 after purchasing an additional 30,969 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of QuinStreet by 1.6% during the third quarter. Public Sector Pension Investment Board now owns 117,319 shares of the technology company's stock worth $2,244,000 after purchasing an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

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Analysts Set New Price Targets

QNST has been the topic of a number of analyst reports. StockNews.com upgraded QuinStreet from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Barrington Research restated an "outperform" rating and set a $29.00 target price on shares of QuinStreet in a research note on Wednesday, March 26th. Lake Street Capital upped their price target on QuinStreet from $25.00 to $27.00 and gave the company a "hold" rating in a report on Friday, February 7th. Finally, B. Riley reissued a "buy" rating and set a $34.00 price objective (up previously from $32.00) on shares of QuinStreet in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, QuinStreet presently has an average rating of "Moderate Buy" and an average target price of $29.80.

Insider Buying and Selling at QuinStreet

In other QuinStreet news, CFO Gregory Wong sold 8,516 shares of the business's stock in a transaction on 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 directly owns 337,031 shares of the company's stock, valued at approximately $7,711,269.28. The trade was a 2.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas Valenti sold 10,000 shares of the firm's stock in a transaction on 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 owns 1,836,754 shares of the company's stock, valued at $45,955,585.08. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.

QuinStreet Stock Performance

NASDAQ QNST traded down $0.80 on Friday, reaching $15.54. The stock had a trading volume of 234,959 shares, compared to its average volume of 452,712. The stock has a market cap of $877.53 million, a P/E ratio of -70.75 and a beta of 0.91. QuinStreet, Inc. has a 12-month low of $15.20 and a 12-month high of $26.27. The business's 50-day moving average price is $20.41 and its 200 day moving average price is $20.90.

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

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.