Frank Rimerman Advisors LLC Makes New Investment in QuinStreet, Inc. (NASDAQ:QNST)

Frank Rimerman Advisors LLC acquired a new position in shares of QuinStreet, Inc. (NASDAQ:QNST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,325 shares of the technology company’s stock, valued at approximately $261,000.

A number of other hedge funds have also modified their holdings of the business. FMR LLC grew its position in shares of QuinStreet by 5.2% during the third quarter. FMR LLC now owns 2,233,345 shares of the technology company’s stock worth $42,724,000 after acquiring an additional 109,892 shares during the last quarter. State Street Corp grew its position in QuinStreet by 2.1% in the 3rd quarter. State Street Corp now owns 1,989,976 shares of the technology company’s stock valued at $38,068,000 after buying an additional 41,538 shares during the last quarter. Geode Capital Management LLC grew its position in QuinStreet by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company’s stock valued at $24,315,000 after buying an additional 36,963 shares during the last quarter. Portolan Capital Management LLC grew its position in QuinStreet by 9.6% in the 3rd quarter. Portolan Capital Management LLC now owns 801,693 shares of the technology company’s stock valued at $15,336,000 after buying an additional 70,408 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its position in QuinStreet by 6.0% in the 4th quarter. First Eagle Investment Management LLC now owns 681,023 shares of the technology company’s stock valued at $15,711,000 after buying an additional 38,500 shares during the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. B. Riley reissued a “buy” rating and issued a $34.00 target price (up previously from $32.00) on shares of QuinStreet in a report on Friday, February 7th. Barrington Research reaffirmed an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a research note on Friday, February 7th. StockNews.com raised QuinStreet from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Lake Street Capital lifted their price target on QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, QuinStreet currently has an average rating of “Moderate Buy” and a consensus target price of $29.80.

Insider Buying and Selling at QuinStreet

In other news, 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 sale, the chief financial officer now owns 337,031 shares in the company, valued at approximately $7,711,269.28. The trade was a 2.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas Valenti sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total value 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. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.

QuinStreet Trading Up 1.9 %

Shares of QNST stock opened at $18.10 on Tuesday. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -82.27 and a beta of 1.13. The firm has a 50-day moving average price of $21.42 and a 200 day moving average price of $20.99. QuinStreet, Inc. has a twelve month low of $15.20 and a twelve month high of $26.27.

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

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.