Wells Fargo & Company MN Raises Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Wells Fargo & Company MN raised its position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 168.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,156 shares of the technology company's stock after acquiring an additional 30,191 shares during the period. Wells Fargo & Company MN owned approximately 0.09% of QuinStreet worth $1,111,000 at the end of the most recent reporting period.

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

Insider Activity

In other QuinStreet news, CEO Douglas Valenti sold 10,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $25.02, for a total transaction of $250,200.00. Following the sale, the chief executive officer now owns 1,836,754 shares of the company's stock, valued at $45,955,585.08. This represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gregory Wong sold 8,516 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total transaction of $194,846.08. Following the completion of the transaction, the chief financial officer now directly owns 337,031 shares of the company's stock, valued at approximately $7,711,269.28. This represents a 2.46 % 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.

QuinStreet Trading Up 2.2 %

Shares of QuinStreet stock opened at $17.77 on Wednesday. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -80.77 and a beta of 0.91. The firm's 50-day moving average price is $17.47 and its two-hundred day moving average price is $20.45. QuinStreet, Inc. has a 1-year low of $14.39 and a 1-year high of $26.27.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The technology company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. As a group, equities research analysts predict that QuinStreet, Inc. will post 0.12 EPS for the current year.

Analyst Upgrades and Downgrades

QNST has been the subject of several research reports. Barrington Research reissued an "outperform" rating and set a $29.00 price objective on shares of QuinStreet in a research note on Wednesday, April 23rd. Lake Street Capital boosted their target price on shares of QuinStreet from $25.00 to $27.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. B. Riley reiterated a "buy" rating and set a $34.00 price target (up previously from $32.00) on shares of QuinStreet in a report on Friday, February 7th. Finally, StockNews.com raised QuinStreet from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Two equities research 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.com, the company has an average rating of "Moderate Buy" and an average target price of $29.80.

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.

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