Assenagon Asset Management S.A. Makes New Investment in QuinStreet, Inc. (NASDAQ:QNST)

Assenagon Asset Management S.A. bought a new position in shares of QuinStreet, Inc. (NASDAQ:QNSTFree Report) during the 3rd quarter, HoldingsChannel reports. The firm bought 10,296 shares of the technology company’s stock, valued at approximately $92,000.

Several other institutional investors have also recently made changes to their positions in QNST. Equitable Trust Co. raised its position in shares of QuinStreet by 6.0% in the second quarter. Equitable Trust Co. now owns 109,175 shares of the technology company’s stock worth $964,000 after buying an additional 6,190 shares in the last quarter. SVB Wealth LLC raised its position in shares of QuinStreet by 44.7% in the third quarter. SVB Wealth LLC now owns 162,590 shares of the technology company’s stock worth $1,458,000 after buying an additional 50,229 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of QuinStreet by 156.6% in the second quarter. Impax Asset Management Group plc now owns 1,129,918 shares of the technology company’s stock worth $9,977,000 after buying an additional 689,523 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of QuinStreet in the second quarter worth $109,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of QuinStreet by 84.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 28,609 shares of the technology company’s stock worth $253,000 after buying an additional 13,086 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Transactions at QuinStreet

In other news, CFO Gregory Wong sold 7,145 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $12.94, for a total transaction of $92,456.30. Following the completion of the sale, the chief financial officer now directly owns 309,116 shares in the company, valued at $3,999,961.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other QuinStreet news, CFO Gregory Wong sold 7,145 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $12.94, for a total value of $92,456.30. Following the completion of the sale, the chief financial officer now directly owns 309,116 shares in the company, valued at $3,999,961.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew T. Sheehan sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $11.44, for a total transaction of $572,000.00. Following the completion of the sale, the director now owns 64,848 shares of the company’s stock, valued at $741,861.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,010 shares of company stock worth $996,822. Company insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Stephens increased their price objective on QuinStreet from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday. Barrington Research reiterated an “outperform” rating and issued a $16.00 price objective on shares of QuinStreet in a research report on Thursday. StockNews.com upgraded QuinStreet to a “sell” rating in a research report on Tuesday, January 30th. Finally, B. Riley raised QuinStreet from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $19.00 in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.20.

Get Our Latest Stock Report on QuinStreet

QuinStreet Stock Up 13.8 %

QNST opened at $14.69 on Friday. The stock has a market cap of $802.07 million, a PE ratio of -10.64 and a beta of 1.05. QuinStreet, Inc. has a 52 week low of $6.79 and a 52 week high of $18.18. The business’s fifty day simple moving average is $12.62 and its 200 day simple moving average is $10.84.

QuinStreet (NASDAQ:QNSTGet Free Report) last released its earnings results on Wednesday, February 7th. The technology company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). QuinStreet had a negative net margin of 13.35% and a negative return on equity of 29.48%. The firm had revenue of $122.68 million during the quarter, compared to the consensus estimate of $116.46 million. As a group, equities analysts anticipate that QuinStreet, Inc. will post -0.29 earnings per share for the current 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.

Further Reading

Want to see what other hedge funds are holding QNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QuinStreet, Inc. (NASDAQ:QNSTFree Report).

Institutional Ownership by Quarter for QuinStreet (NASDAQ:QNST)

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