Canada Pension Plan Investment Board Buys New Stake in QuinStreet, Inc. (NASDAQ:QNST)

Canada Pension Plan Investment Board acquired a new position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 17,400 shares of the technology company's stock, valued at approximately $401,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Arcadia Investment Management Corp MI acquired a new position in QuinStreet during the 4th quarter worth about $38,000. KBC Group NV boosted its holdings in QuinStreet by 64.5% in the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company's stock valued at $82,000 after purchasing an additional 1,396 shares during the period. PNC Financial Services Group Inc. grew its stake in QuinStreet by 43.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company's stock worth $88,000 after purchasing an additional 1,162 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in QuinStreet in the 4th quarter valued at about $112,000. Finally, BankPlus Trust Department acquired a new position in shares of QuinStreet during the fourth quarter worth about $198,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at QuinStreet

In other QuinStreet news, CFO Gregory Wong sold 8,516 shares of QuinStreet stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total value of $194,846.08. Following the sale, the chief financial officer now owns 337,031 shares of the company's stock, valued at approximately $7,711,269.28. The trade was a 2.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas Valenti sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total value of $250,200.00. Following the transaction, the chief executive officer now directly owns 1,836,754 shares of the company's stock, valued at approximately $45,955,585.08. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

QNST has been the topic of a number of analyst reports. Lake Street Capital raised their price objective on shares of QuinStreet from $25.00 to $27.00 and gave the company a "hold" rating in a report on Friday, February 7th. B. Riley reiterated a "buy" rating and issued a $34.00 price target (up from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. StockNews.com raised shares of QuinStreet from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $29.00 price objective on shares of QuinStreet in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, QuinStreet has a consensus rating of "Moderate Buy" and an average price target of $29.80.

QuinStreet Price Performance

Shares of NASDAQ:QNST traded up $1.15 on Thursday, reaching $18.67. The company's stock had a trading volume of 259,279 shares, compared to its average volume of 472,069. QuinStreet, Inc. has a 52-week low of $14.39 and a 52-week high of $26.27. The stock has a market capitalization of $1.05 billion, a P/E ratio of -85.86 and a beta of 0.91. The stock's 50-day moving average is $17.42 and its two-hundred day moving average is $20.43.

QuinStreet (NASDAQ:QNST - Get Free Report) last announced its earnings results on Thursday, February 6th. The technology company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. Equities analysts forecast that QuinStreet, Inc. will post 0.12 earnings per share 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.