BNP Paribas Financial Markets Raises Stock Position in QuinStreet, Inc. (NASDAQ:QNST)

BNP Paribas Financial Markets raised its stake in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 537.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,763 shares of the technology company's stock after purchasing an additional 280,554 shares during the period. BNP Paribas Financial Markets owned 0.59% of QuinStreet worth $7,677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of QuinStreet by 39.7% in the third quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company's stock worth $8,601,000 after buying an additional 127,689 shares in the last quarter. Barclays PLC lifted its stake in shares of QuinStreet by 149.7% in the third quarter. Barclays PLC now owns 127,404 shares of the technology company's stock worth $2,436,000 after buying an additional 76,389 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of QuinStreet in the fourth quarter worth about $486,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of QuinStreet by 45.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 381,941 shares of the technology company's stock worth $8,811,000 after buying an additional 119,154 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of QuinStreet by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,002,030 shares of the technology company's stock worth $92,327,000 after buying an additional 26,169 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on QNST shares. Barrington Research reissued an "outperform" rating and issued a $29.00 price target on shares of QuinStreet in a research note on Wednesday, April 23rd. StockNews.com raised shares of QuinStreet from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Stephens reaffirmed an "overweight" rating and set a $31.00 target price on shares of QuinStreet in a research note on Thursday, May 8th. Lake Street Capital reduced their target price on shares of QuinStreet from $27.00 to $19.00 and set a "hold" rating on the stock in a research note on Thursday, May 8th. Finally, B. Riley reaffirmed a "buy" rating and set a $34.00 target price (up from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, QuinStreet presently has a consensus rating of "Moderate Buy" and an average target price of $29.00.

QuinStreet Stock Performance

Shares of QuinStreet stock traded down $0.36 on Friday, reaching $15.35. The company had a trading volume of 677,027 shares, compared to its average volume of 505,027. The firm's 50 day moving average price is $16.94 and its two-hundred day moving average price is $20.24. The firm has a market cap of $866.80 million, a PE ratio of -69.77 and a beta of 0.79. QuinStreet, Inc. has a 52-week low of $14.39 and a 52-week high of $26.27.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.15. The business had revenue of $269.84 million for the quarter, compared to the consensus estimate of $270.36 million. QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. The business's revenue was up 60.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. As a group, sell-side analysts predict that QuinStreet, Inc. will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Gregory Wong sold 8,516 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $22.88, for a total transaction of $194,846.08. Following the completion of the sale, the chief financial officer now owns 337,031 shares in the company, valued at approximately $7,711,269.28. The trade was a 2.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.00% of the stock is currently owned by company insiders.

QuinStreet Profile

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.