QuantumScape Co. (NYSE:QS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of QuantumScape Co. (NYSE:QSFree Report) by 11.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,577 shares of the company’s stock after selling 3,053 shares during the quarter. Principal Financial Group Inc.’s holdings in QuantumScape were worth $130,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its position in QuantumScape by 1.5% during the third quarter. State Street Corp now owns 5,918,496 shares of the company’s stock worth $34,031,000 after acquiring an additional 87,563 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after purchasing an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of QuantumScape by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock valued at $12,806,000 after purchasing an additional 93,826 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in QuantumScape by 8.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company’s stock valued at $6,785,000 after purchasing an additional 94,103 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in QuantumScape by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock worth $4,579,000 after buying an additional 11,897 shares during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Insider Activity

In other news, insider Mohit Singh sold 97,305 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the transaction, the insider now directly owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jagdeep Singh sold 308,097 shares of QuantumScape stock in a transaction on Monday, December 9th. The stock was sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the completion of the sale, the director now owns 2,563,767 shares of the company’s stock, valued at approximately $13,587,965.10. This trade represents a 10.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 536,460 shares of company stock worth $2,903,619 over the last 90 days. Company insiders own 12.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on QS. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research report on Tuesday, November 19th. Truist Financial reiterated a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Finally, Hsbc Global Res upgraded QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.26.

View Our Latest Stock Report on QuantumScape

QuantumScape Price Performance

QS opened at $6.29 on Wednesday. QuantumScape Co. has a 52-week low of $4.65 and a 52-week high of $9.66. The company has a 50 day moving average of $5.20 and a two-hundred day moving average of $5.68. The company has a market cap of $3.22 billion, a P/E ratio of -6.62 and a beta of 4.46. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QSGet Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the firm earned ($0.23) EPS. On average, analysts expect that QuantumScape Co. will post -0.99 earnings per share for the current year.

QuantumScape Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for QuantumScape (NYSE:QS)

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