Charles Schwab Investment Management Inc. Buys 40,236 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Charles Schwab Investment Management Inc. increased its stake in shares of QuinStreet, Inc. (NASDAQ:QNST) by 8.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 495,538 shares of the technology company’s stock after acquiring an additional 40,236 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in QuinStreet were worth $9,480,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. American Century Companies Inc. boosted its stake in QuinStreet by 27.5% in the 2nd quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company’s stock valued at $33,763,000 after purchasing an additional 438,947 shares during the period. Divisadero Street Capital Management LP acquired a new stake in shares of QuinStreet during the second quarter worth $6,499,000. Driehaus Capital Management LLC boosted its position in shares of QuinStreet by 17.6% in the second quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company’s stock valued at $25,050,000 after acquiring an additional 225,720 shares during the period. Squarepoint Ops LLC increased its position in QuinStreet by 248.7% during the second quarter. Squarepoint Ops LLC now owns 174,367 shares of the technology company’s stock worth $2,893,000 after acquiring an additional 124,367 shares during the period. Finally, Bank of Montreal Can acquired a new stake in QuinStreet in the 2nd quarter worth about $1,766,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

QuinStreet Stock Performance

Shares of NASDAQ:QNST opened at $21.84 on Tuesday. The firm has a market cap of $1.23 billion, a PE ratio of -54.60 and a beta of 1.07. QuinStreet, Inc. has a 52 week low of $11.22 and a 52 week high of $26.27. The firm’s fifty day moving average is $20.67 and its 200-day moving average is $18.81.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The business had revenue of $279.22 million for the quarter, compared to analysts’ expectations of $222.68 million. During the same period in the prior year, the business posted ($0.19) earnings per share. The firm’s revenue was up 125.3% on a year-over-year basis. Sell-side analysts forecast that QuinStreet, Inc. will post 0.15 EPS for the current year.

Insider Activity

In other news, Director Matthew Glickman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total transaction of $678,900.00. Following the completion of the sale, the director now directly owns 113,140 shares of the company’s stock, valued at $2,560,358.20. The trade was a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stuart Huizinga sold 2,980 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $23.00, for a total value of $68,540.00. Following the sale, the director now directly owns 171,923 shares of the company’s stock, valued at $3,954,229. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $910,374 in the last quarter. 5.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Craig Hallum raised their target price on shares of QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Lake Street Capital raised their price objective on QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. StockNews.com downgraded QuinStreet from a “hold” rating to a “sell” rating in a research report on Tuesday. Stephens raised their price target on QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, B. Riley boosted their price target on QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.00.

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.