Bank of America Corp DE Has $2.87 Million Stake in QuinStreet, Inc. (NASDAQ:QNST)

Bank of America Corp DE boosted its holdings in QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 25.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 124,308 shares of the technology company's stock after acquiring an additional 25,101 shares during the period. Bank of America Corp DE owned 0.22% of QuinStreet worth $2,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in QNST. Barclays PLC boosted 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 during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in QuinStreet in the fourth quarter valued at approximately $486,000. Arrowstreet Capital Limited Partnership raised its holdings in QuinStreet by 45.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 381,941 shares of the technology company's stock valued at $8,811,000 after buying an additional 119,154 shares during the period. Vanguard Group Inc. raised its stake in shares of QuinStreet by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 4,002,030 shares of the technology company's stock valued at $92,327,000 after purchasing an additional 26,169 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of QuinStreet by 168.1% during the fourth quarter. Wells Fargo & Company MN now owns 48,156 shares of the technology company's stock valued at $1,111,000 after purchasing an additional 30,191 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on QNST shares. Stephens reiterated an "overweight" rating and set a $31.00 price objective on shares of QuinStreet in a research note on Thursday, May 8th. Lake Street Capital decreased their price objective on shares of QuinStreet from $27.00 to $19.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Barrington Research reissued an "outperform" rating and set a $29.00 price target on shares of QuinStreet in a report on Wednesday, April 23rd. Wall Street Zen cut shares of QuinStreet from a "buy" rating to a "hold" rating in a research note on Friday. Finally, B. Riley restated a "buy" rating and set a $34.00 price objective (up from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, QuinStreet has an average rating of "Moderate Buy" and a consensus price target of $29.00.

QuinStreet Stock Performance

NASDAQ QNST traded down $0.11 on Monday, reaching $15.16. The company's stock had a trading volume of 778,984 shares, compared to its average volume of 520,809. The firm's 50 day moving average is $16.36 and its two-hundred day moving average is $19.79. The stock has a market cap of $856.07 million, a PE ratio of -68.91 and a beta of 0.79. QuinStreet, Inc. has a twelve month low of $14.39 and a twelve month high of $26.27.

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