Vanguard Group Inc. Increases Stake in QuantumScape Co. (NYSE:QS)

Vanguard Group Inc. raised its holdings in QuantumScape Co. (NYSE:QS) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,828,269 shares of the company’s stock after buying an additional 796,723 shares during the period. Vanguard Group Inc. owned approximately 6.02% of QuantumScape worth $207,306,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of QS. Hsbc Holdings PLC acquired a new stake in QuantumScape in the third quarter valued at approximately $184,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of QuantumScape in the 3rd quarter valued at $84,000. Gotham Asset Management LLC lifted its position in shares of QuantumScape by 72.4% during the 3rd quarter. Gotham Asset Management LLC now owns 115,893 shares of the company’s stock worth $775,000 after purchasing an additional 48,684 shares during the last quarter. Scotia Capital Inc. acquired a new position in shares of QuantumScape during the third quarter worth $95,000. Finally, Citigroup Inc. increased its holdings in QuantumScape by 97.7% in the third quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock valued at $703,000 after buying an additional 51,934 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

Insider Buying and Selling

In other news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.14, for a total transaction of $212,486.98. Following the transaction, the chief financial officer now directly owns 1,178,512 shares in the company, valued at approximately $7,236,063.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $5.35, for a total transaction of $1,028,644.50. Following the transaction, the director now directly owns 2,809,253 shares of the company’s stock, valued at $15,029,503.55. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $6.14, for a total transaction of $212,486.98. Following the completion of the transaction, the chief financial officer now directly owns 1,178,512 shares in the company, valued at approximately $7,236,063.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 490,859 shares of company stock worth $2,768,719. 10.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. UBS Group lowered their price objective on QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Truist Financial decreased their price target on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.67.

QuantumScape Price Performance

Shares of NYSE:QS opened at $4.83 on Wednesday. QuantumScape Co. has a one year low of $4.67 and a one year high of $13.86. The stock has a market cap of $2.41 billion, a PE ratio of -5.03 and a beta of 4.62. The business’s fifty day moving average price is $5.47 and its two-hundred day moving average price is $6.21. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, April 24th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). On average, analysts forecast that QuantumScape Co. will post -0.89 EPS for the current fiscal year.

QuantumScape Company Profile

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.