Cubist Systematic Strategies LLC Invests $1.21 Million in QuinStreet, Inc. (NASDAQ:QNST)

Cubist Systematic Strategies LLC acquired a new position in QuinStreet, Inc. (NASDAQ:QNST) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 52,560 shares of the technology company’s stock, valued at approximately $1,213,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of QuinStreet by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,002,030 shares of the technology company’s stock worth $92,327,000 after buying an additional 26,169 shares during the period. American Century Companies Inc. increased its holdings in shares of QuinStreet by 9.9% in the fourth quarter. American Century Companies Inc. now owns 2,228,568 shares of the technology company’s stock worth $51,413,000 after buying an additional 201,052 shares during the period. Geode Capital Management LLC increased its holdings in shares of QuinStreet by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 1,297,160 shares of the technology company’s stock worth $29,933,000 after buying an additional 26,394 shares during the period. Invesco Ltd. increased its holdings in shares of QuinStreet by 177.8% in the fourth quarter. Invesco Ltd. now owns 946,108 shares of the technology company’s stock worth $21,827,000 after buying an additional 605,500 shares during the period. Finally, Portolan Capital Management LLC increased its holdings in shares of QuinStreet by 14.4% in the fourth quarter. Portolan Capital Management LLC now owns 917,215 shares of the technology company’s stock worth $21,160,000 after buying an additional 115,522 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analysts Set New Price Targets

QNST has been the topic of several analyst reports. Lake Street Capital decreased their price objective on QuinStreet from $27.00 to $19.00 and set a “hold” rating on the stock in a report on Thursday, May 8th. Stephens reissued an “overweight” rating and issued a $31.00 target price on shares of QuinStreet in a research note on Thursday, May 8th. Barrington Research reissued an “outperform” rating and issued a $29.00 target price on shares of QuinStreet in a research note on Wednesday, April 23rd. B. Riley reissued a “buy” rating and issued a $34.00 target price (up from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Finally, StockNews.com raised QuinStreet from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.00.

QuinStreet Price Performance

NASDAQ QNST opened at $16.38 on Wednesday. The stock has a market capitalization of $924.96 million, a PE ratio of -74.45 and a beta of 0.79. QuinStreet, Inc. has a 1 year low of $14.39 and a 1 year high of $26.27. The business’s 50-day moving average is $17.06 and its 200 day moving average is $20.33.

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

Insider Activity

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 stock was sold at an average price of $22.88, for a total value of $194,846.08. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.00% of the stock is currently owned by company insiders.

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.