QuinStreet, Inc. (NASDAQ:QNST) Holdings Lifted by State Street Corp

State Street Corp increased its holdings in QuinStreet, Inc. (NASDAQ:QNST) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,989,976 shares of the technology company’s stock after acquiring an additional 41,538 shares during the period. State Street Corp owned about 3.54% of QuinStreet worth $38,068,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. US Bancorp DE increased its holdings in shares of QuinStreet by 880.3% in the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,250 shares during the period. Quantbot Technologies LP purchased a new position in QuinStreet during the third quarter valued at approximately $29,000. Quarry LP increased its stake in QuinStreet by 11,330.0% in the 2nd quarter. Quarry LP now owns 2,286 shares of the technology company’s stock valued at $38,000 after buying an additional 2,266 shares during the period. Victory Capital Management Inc. purchased a new stake in QuinStreet in the 2nd quarter worth approximately $175,000. Finally, Hsbc Holdings PLC boosted its stake in shares of QuinStreet by 26.1% during 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 period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Stuart Huizinga sold 2,980 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $23.00, for a total transaction of $68,540.00. Following the transaction, the director now owns 171,923 shares in the company, valued at approximately $3,954,229. The trade was a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the director now directly owns 113,140 shares of the company’s stock, valued at $2,560,358.20. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,000 shares of company stock valued at $910,374. 5.00% of the stock is owned by company insiders.

QuinStreet Price Performance

QuinStreet stock opened at $21.44 on Friday. QuinStreet, Inc. has a fifty-two week low of $11.22 and a fifty-two week high of $26.27. The firm has a fifty day moving average price of $21.19 and a two-hundred day moving average price of $19.04. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -53.60 and a beta of 1.07.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The business had revenue of $279.22 million during the quarter, compared to analysts’ expectations of $222.68 million. During the same quarter in the previous year, the firm earned ($0.19) EPS. The firm’s revenue was up 125.3% compared to the same quarter last year. As a group, sell-side analysts expect that QuinStreet, Inc. will post 0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on QNST. Barrington Research reaffirmed an “outperform” rating and issued a $29.00 price target on shares of QuinStreet in a research note on Friday, December 6th. Craig Hallum upped their target price on QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. B. Riley increased their price target on shares of QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Lake Street Capital lifted their price objective on shares of QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Finally, Stephens increased their target price on shares of QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

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.