Geode Capital Management LLC Acquires 36,963 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Geode Capital Management LLC raised its holdings in QuinStreet, Inc. (NASDAQ:QNST) by 3.0% during the third quarter, Holdings Channel.com reports. The fund owned 1,270,766 shares of the technology company’s stock after purchasing an additional 36,963 shares during the period. Geode Capital Management LLC’s holdings in QuinStreet were worth $24,315,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of QNST. Divisadero Street Capital Management LP bought a new position in shares of QuinStreet in the 2nd quarter worth $6,499,000. State Street Corp lifted its stake in QuinStreet by 2.1% in the third quarter. State Street Corp now owns 1,989,976 shares of the technology company’s stock valued at $38,068,000 after buying an additional 41,538 shares during the period. Driehaus Capital Management LLC boosted its holdings in QuinStreet by 17.6% during the second quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company’s stock worth $25,050,000 after buying an additional 225,720 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of QuinStreet by 8.8% during the 3rd 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. Finally, American Century Companies Inc. increased its stake in shares of 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 acquiring an additional 438,947 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

QuinStreet Trading Down 3.4 %

QNST opened at $23.85 on Friday. The stock has a market capitalization of $1.34 billion, a P/E ratio of -59.63 and a beta of 1.07. QuinStreet, Inc. has a 12 month low of $11.22 and a 12 month high of $26.27. The firm’s fifty day simple moving average is $21.60 and its 200 day simple moving average is $19.25.

QuinStreet (NASDAQ:QNST) last issued 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. The company had revenue of $279.22 million for the quarter, compared to analyst estimates of $222.68 million. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The company’s quarterly revenue was up 125.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) earnings per share. On average, equities research analysts predict that QuinStreet, Inc. will post 0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other QuinStreet news, Director Matthew Glickman sold 30,000 shares of QuinStreet stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total value of $678,900.00. Following the sale, the director now directly owns 113,140 shares in the company, valued at approximately $2,560,358.20. The trade was a 20.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stuart Huizinga sold 2,980 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $23.00, for a total transaction of $68,540.00. Following the sale, 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 sold a total of 40,000 shares of company stock valued at $910,374 in the last quarter. 5.00% of the stock is currently owned by insiders.

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.