Driehaus Capital Management LLC Purchases 617,216 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Driehaus Capital Management LLC increased its stake in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 28.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,787,695 shares of the technology company's stock after buying an additional 617,216 shares during the quarter. Driehaus Capital Management LLC owned about 4.96% of QuinStreet worth $64,312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its stake in shares of QuinStreet by 149.7% during the 3rd quarter. Barclays PLC now owns 127,404 shares of the technology company's stock worth $2,436,000 after purchasing an additional 76,389 shares in the last quarter. JPMorgan Chase & Co. grew its stake in QuinStreet by 39.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company's stock worth $8,601,000 after acquiring an additional 127,689 shares during the period. SG Americas Securities LLC grew its stake in QuinStreet by 1.8% in the 4th quarter. SG Americas Securities LLC now owns 26,060 shares of the technology company's stock worth $601,000 after acquiring an additional 459 shares during the period. KBC Group NV grew its stake in QuinStreet by 64.5% in the 4th quarter. KBC Group NV now owns 3,562 shares of the technology company's stock worth $82,000 after acquiring an additional 1,396 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in QuinStreet by 1.4% in the 4th quarter. State of Alaska Department of Revenue now owns 31,976 shares of the technology company's stock worth $737,000 after acquiring an additional 432 shares during the period. Hedge funds and other institutional investors own 97.83% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on QNST shares. StockNews.com upgraded shares of QuinStreet from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Stephens reiterated an "overweight" rating and issued a $31.00 price target on shares of QuinStreet in a report on Thursday, May 8th. Barrington Research reiterated an "outperform" rating and issued a $29.00 price target on shares of QuinStreet in a report on Wednesday, April 23rd. Lake Street Capital decreased their price target on shares of QuinStreet from $27.00 to $19.00 and set a "hold" rating on the stock in a report on Thursday, May 8th. Finally, B. Riley reiterated a "buy" rating and issued a $34.00 price target (up previously from $32.00) on shares of QuinStreet in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, QuinStreet currently has a consensus rating of "Moderate Buy" and an average target price of $29.00.

Insiders Place Their Bets

In other news, CFO Gregory Wong sold 8,516 shares of the firm'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 $7,711,269.28. This trade represents a 2.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.00% of the company's stock.

QuinStreet Trading Up 4.0%

Shares of QNST stock traded up $0.62 on Tuesday, hitting $16.30. The stock had a trading volume of 618,238 shares, compared to its average volume of 499,940. QuinStreet, Inc. has a twelve month low of $14.39 and a twelve month high of $26.27. The firm has a market cap of $920.44 million, a P/E ratio of -74.09 and a beta of 0.79. The company has a fifty day moving average price of $17.10 and a two-hundred day moving average price of $20.36.

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

QuinStreet Company 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.