Stone Ridge Asset Management LLC purchased a new stake in shares of QuinStreet Inc (NASDAQ:QNST) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 94,698 shares of the technology company’s stock, valued at approximately $794,000. Stone Ridge Asset Management LLC owned about 0.20% of QuinStreet as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Voya Investment Management LLC grew its holdings in QuinStreet by 21.7% during the second quarter. Voya Investment Management LLC now owns 29,642 shares of the technology company’s stock valued at $124,000 after purchasing an additional 5,278 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of QuinStreet by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 313,652 shares of the technology company’s stock worth $2,627,000 after acquiring an additional 6,779 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of QuinStreet by 48.8% in the second quarter. Wells Fargo & Company MN now owns 27,130 shares of the technology company’s stock worth $113,000 after acquiring an additional 8,900 shares during the last quarter. Rhumbline Advisers grew its stake in shares of QuinStreet by 13.9% in the fourth quarter. Rhumbline Advisers now owns 83,538 shares of the technology company’s stock worth $700,000 after acquiring an additional 10,226 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of QuinStreet by 17.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 70,517 shares of the technology company’s stock worth $591,000 after acquiring an additional 10,517 shares during the last quarter. Institutional investors own 67.21% of the company’s stock.
In other QuinStreet news, CFO Gregory Wong sold 22,929 shares of QuinStreet stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $13.69, for a total transaction of $313,898.01. Following the sale, the chief financial officer now owns 236,446 shares in the company, valued at $3,236,945.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas Valenti sold 50,000 shares of QuinStreet stock in a transaction on Friday, February 16th. The stock was sold at an average price of $12.52, for a total transaction of $626,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 862,358 shares of company stock worth $10,388,404. 24.10% of the stock is currently owned by corporate insiders.
Shares of QNST stock opened at $14.12 on Wednesday. The stock has a market cap of $636.18, a price-to-earnings ratio of 91.73, a PEG ratio of 3.06 and a beta of 0.89. QuinStreet Inc has a 52 week low of $3.36 and a 52 week high of $14.38.
QuinStreet (NASDAQ:QNST) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. The business had revenue of $87.49 million for the quarter, compared to the consensus estimate of $75.18 million. QuinStreet had a net margin of 0.78% and a return on equity of 5.77%. QuinStreet’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) earnings per share. equities research analysts forecast that QuinStreet Inc will post 0.18 earnings per share for the current fiscal year.
QNST has been the topic of several research analyst reports. Stephens restated a “buy” rating and issued a $11.50 price objective on shares of QuinStreet in a research note on Thursday, February 1st. Barrington Research restated a “buy” rating and issued a $15.00 price objective on shares of QuinStreet in a research note on Tuesday. Finally, Zacks Investment Research upgraded shares of QuinStreet from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Friday, February 9th.
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QuinStreet, Inc is an online performance marketing company. The Company provides vertically oriented customer acquisition programs for its clients. The Company operating segments include Direct Marketing Services (DMS) business. Its DMS business derives its net revenue from fees earned through the delivery of qualified leads, clicks, calls or customers, and display advertisements, or impressions.
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