Nordea Investment Management AB Buys 135,527 Shares of QuinStreet, Inc. $QNST

Nordea Investment Management AB raised its stake in shares of QuinStreet, Inc. (NASDAQ:QNST) by 59.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 362,042 shares of the technology company’s stock after purchasing an additional 135,527 shares during the quarter. Nordea Investment Management AB’s holdings in QuinStreet were worth $5,174,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in shares of QuinStreet by 1,443.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,136,759 shares of the technology company’s stock valued at $17,586,000 after purchasing an additional 1,063,107 shares in the last quarter. Millennium Management LLC raised its stake in QuinStreet by 213.3% in the first quarter. Millennium Management LLC now owns 714,482 shares of the technology company’s stock worth $12,746,000 after buying an additional 486,406 shares in the last quarter. Algert Global LLC raised its stake in QuinStreet by 161.4% in the third quarter. Algert Global LLC now owns 580,853 shares of the technology company’s stock worth $8,986,000 after buying an additional 358,610 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in QuinStreet by 190.4% in the second quarter. Cubist Systematic Strategies LLC now owns 525,775 shares of the technology company’s stock worth $8,465,000 after buying an additional 344,714 shares during the period. Finally, Marshall Wace LLP lifted its holdings in QuinStreet by 46.7% in the second quarter. Marshall Wace LLP now owns 882,021 shares of the technology company’s stock worth $14,201,000 after buying an additional 280,942 shares during the period. 97.83% of the stock is currently owned by institutional investors.

QuinStreet Price Performance

Shares of NASDAQ QNST opened at $12.11 on Friday. QuinStreet, Inc. has a 1 year low of $10.28 and a 1 year high of $19.28. The firm has a 50-day moving average of $12.29 and a 200 day moving average of $13.93. The stock has a market cap of $690.20 million, a P/E ratio of 11.11 and a beta of 0.70.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings data on Thursday, February 5th. The technology company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. QuinStreet had a net margin of 5.64% and a return on equity of 9.55%. The business had revenue of $287.85 million for the quarter, compared to analysts’ expectations of $275.07 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Research analysts expect that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on QNST shares. Barrington Research reiterated an “outperform” rating and set a $24.00 target price on shares of QuinStreet in a report on Friday, February 6th. Weiss Ratings upgraded QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 9th. Northland Securities initiated coverage on QuinStreet in a research report on Tuesday, March 17th. They set an “outperform” rating and a $17.00 price target on the stock. B. Riley Financial upped their price target on QuinStreet from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Lake Street Capital set a $15.00 price objective on QuinStreet in a report on Friday, February 6th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.60.

About QuinStreet

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.