Allspring Global Investments Holdings LLC Makes New $486,000 Investment in QuinStreet, Inc. (NASDAQ:QNST)

Allspring Global Investments Holdings LLC acquired a new position in shares of QuinStreet, Inc. (NASDAQ:QNST) in the 4th quarter, Holdings Channel.com reports. The fund acquired 21,086 shares of the technology company’s stock, valued at approximately $486,000.

A number of other hedge funds have also added to or reduced their stakes in QNST. FMR LLC grew 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 acquiring an additional 109,892 shares during the period. State Street Corp increased its stake in QuinStreet by 2.1% during the 3rd quarter. State Street Corp now owns 1,989,976 shares of the technology company’s stock worth $38,068,000 after acquiring an additional 41,538 shares during the period. Geode Capital Management LLC increased its stake in shares of QuinStreet by 3.0% in 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 purchasing an additional 36,963 shares during the last quarter. Portolan Capital Management LLC increased its stake in shares of QuinStreet by 9.6% in the 3rd quarter. Portolan Capital Management LLC now owns 801,693 shares of the technology company’s stock valued at $15,336,000 after purchasing an additional 70,408 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 40,236 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Insider Activity

In other news, CEO Douglas Valenti sold 10,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were 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 represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stuart Huizinga sold 2,980 shares of the firm’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 completion of the sale, the director now owns 171,923 shares of the company’s stock, 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. Over the last three months, insiders have sold 21,496 shares of company stock valued at $513,586. 5.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on QNST. Lake Street Capital lifted their target price on QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Friday, February 7th. B. Riley reissued a “buy” rating and set a $34.00 price objective (up from $32.00) on shares of QuinStreet in a report on Friday, February 7th. StockNews.com raised QuinStreet from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Craig Hallum upped their target price on QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Barrington Research reiterated an “outperform” rating and issued a $29.00 price objective 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 issued a buy rating to the company’s stock. 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 QNST stock opened at $19.85 on Tuesday. QuinStreet, Inc. has a 52-week low of $14.14 and a 52-week high of $26.27. The company has a market capitalization of $1.12 billion, a PE ratio of -90.23 and a beta of 1.06. The business’s fifty day moving average is $22.80 and its 200 day moving average is $20.91.

QuinStreet (NASDAQ:QNST) last released its earnings results on Thursday, February 6th. The technology company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. On average, sell-side analysts forecast that QuinStreet, Inc. will post 0.12 EPS for the current fiscal 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.