Assenagon Asset Management S.A. Purchases 168,235 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Assenagon Asset Management S.A. increased its position in shares of QuinStreet, Inc. (NASDAQ:QNSTFree Report) by 1,634.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 178,531 shares of the technology company’s stock after buying an additional 168,235 shares during the period. Assenagon Asset Management S.A.’s holdings in QuinStreet were worth $2,289,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of QNST. JPMorgan Chase & Co. grew its holdings in QuinStreet by 9.4% in the first quarter. JPMorgan Chase & Co. now owns 644,508 shares of the technology company’s stock worth $7,476,000 after purchasing an additional 55,500 shares during the period. Citigroup Inc. grew its holdings in QuinStreet by 11.6% in the first quarter. Citigroup Inc. now owns 43,211 shares of the technology company’s stock worth $501,000 after purchasing an additional 4,502 shares during the period. MetLife Investment Management LLC grew its holdings in QuinStreet by 54.9% in the first quarter. MetLife Investment Management LLC now owns 28,152 shares of the technology company’s stock worth $327,000 after purchasing an additional 9,979 shares during the period. Rhumbline Advisers grew its holdings in QuinStreet by 6.5% in the first quarter. Rhumbline Advisers now owns 128,656 shares of the technology company’s stock worth $1,492,000 after purchasing an additional 7,846 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in QuinStreet by 14.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 43,268 shares of the technology company’s stock worth $502,000 after purchasing an additional 5,551 shares during the period. Institutional investors own 97.83% of the company’s stock.

Insider Activity

In other news, CFO Gregory Wong sold 8,407 shares of QuinStreet stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $15.03, for a total transaction of $126,357.21. Following the completion of the transaction, the chief financial officer now directly owns 295,204 shares in the company, valued at $4,436,916.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on QNST. StockNews.com upgraded shares of QuinStreet to a “sell” rating in a report on Tuesday, March 12th. Stephens raised their price target on shares of QuinStreet from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, Barrington Research restated an “outperform” rating and issued a $16.00 price target on shares of QuinStreet in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, QuinStreet has an average rating of “Hold” and an average price target of $15.75.

Get Our Latest Stock Analysis on QNST

QuinStreet Price Performance

Shares of NASDAQ QNST opened at $17.00 on Thursday. The stock has a market capitalization of $933.13 million, a P/E ratio of -11.81 and a beta of 1.14. The company has a 50-day moving average price of $15.20 and a 200-day moving average price of $12.59. QuinStreet, Inc. has a 1 year low of $6.79 and a 1 year high of $17.69.

QuinStreet (NASDAQ:QNSTGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). The business had revenue of $122.68 million for the quarter, compared to analyst estimates of $116.46 million. QuinStreet had a negative net margin of 14.28% and a negative return on equity of 32.98%. As a group, equities research analysts anticipate that QuinStreet, Inc. will post -0.41 earnings per share for the current fiscal year.

QuinStreet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for QuinStreet (NASDAQ:QNST)

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