Principal Financial Group Inc. Acquires 7,511 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Principal Financial Group Inc. boosted its holdings in QuinStreet, Inc. (NASDAQ:QNST) by 2.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 281,756 shares of the technology company’s stock after acquiring an additional 7,511 shares during the quarter. Principal Financial Group Inc. owned 0.50% of QuinStreet worth $5,027,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Driehaus Capital Management LLC lifted its holdings in shares of QuinStreet by 28.4% during the 4th quarter. Driehaus Capital Management LLC now owns 2,787,695 shares of the technology company’s stock valued at $64,312,000 after buying an additional 617,216 shares during the period. Invesco Ltd. lifted its holdings in shares of QuinStreet by 177.8% during the 4th quarter. Invesco Ltd. now owns 946,108 shares of the technology company’s stock valued at $21,827,000 after buying an additional 605,500 shares during the period. G2 Investment Partners Management LLC bought a new position in shares of QuinStreet during the 4th quarter valued at $7,203,000. BNP Paribas Financial Markets lifted its holdings in shares of QuinStreet by 537.4% during the 4th quarter. BNP Paribas Financial Markets now owns 332,763 shares of the technology company’s stock valued at $7,677,000 after buying an additional 280,554 shares during the period. Finally, Oberweis Asset Management Inc. bought a new position in shares of QuinStreet during the 4th quarter valued at $5,191,000. 97.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen raised QuinStreet from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Lake Street Capital decreased their target price on QuinStreet from $27.00 to $19.00 and set a “hold” rating on the stock in a report on Thursday, May 8th. Barrington Research reaffirmed an “outperform” rating and issued a $29.00 target price on shares of QuinStreet in a report on Wednesday, April 23rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $31.00 target price on shares of QuinStreet in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.00.

QuinStreet Stock Performance

Shares of QNST stock opened at $15.64 on Thursday. QuinStreet, Inc. has a 52-week low of $14.39 and a 52-week high of $26.27. The firm has a market capitalization of $883.19 million, a PE ratio of -1,562.44 and a beta of 0.74. The stock has a fifty day simple moving average of $15.60 and a two-hundred day simple moving average of $18.33.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.15. The firm had revenue of $269.84 million during the quarter, compared to analyst estimates of $270.36 million. QuinStreet had a positive return on equity of 1.08% and a negative net margin of 0.06%. The business’s quarterly revenue was up 60.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share. 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.