SVB Wealth LLC Makes New Investment in QuinStreet, Inc. (NASDAQ:QNST)

SVB Wealth LLC bought a new position in shares of QuinStreet, Inc. (NASDAQ:QNST) in the fourth quarter, Holdings Channel reports. The firm bought 152,071 shares of the technology company’s stock, valued at approximately $3,508,000.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in QuinStreet by 39.7% during the third quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company’s stock worth $8,601,000 after purchasing an additional 127,689 shares during the period. State Street Corp boosted its position in QuinStreet by 2.1% during the third quarter. State Street Corp now owns 1,989,976 shares of the technology company’s stock worth $38,068,000 after purchasing an additional 41,538 shares during the period. Barclays PLC boosted its position in QuinStreet by 149.7% during the third 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 period. Geode Capital Management LLC boosted its position in QuinStreet by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company’s stock worth $24,315,000 after purchasing an additional 36,963 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in QuinStreet by 8.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company’s stock worth $9,480,000 after purchasing an additional 40,236 shares during the period. Institutional investors own 97.83% of the company’s stock.

QuinStreet Trading Up 1.5 %

Shares of NASDAQ QNST opened at $19.58 on Friday. The business has a fifty day simple moving average of $22.59 and a 200 day simple moving average of $20.96. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -89.00 and a beta of 1.06. QuinStreet, Inc. has a one year low of $14.14 and a one year high of $26.27.

QuinStreet (NASDAQ:QNST) last issued its 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 net margin of 1.31% and a negative return on equity of 4.13%. On average, research analysts anticipate that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity at QuinStreet

In other QuinStreet news, CEO Douglas Valenti sold 10,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total transaction of $250,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,836,754 shares in the company, valued at $45,955,585.08. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gregory Wong sold 8,516 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 337,031 shares of the company’s stock, valued at $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.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. B. Riley reaffirmed a “buy” rating and set a $34.00 target price (up previously from $32.00) on shares of QuinStreet in a research report on Friday, February 7th. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Lake Street Capital upped their price target on QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Stephens upped their price target on QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Barrington Research reiterated an “outperform” rating and set a $29.00 price target 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.