New York State Common Retirement Fund Sells 37,000 Shares of QuantumScape Co. (NYSE:QS)

New York State Common Retirement Fund lessened its holdings in QuantumScape Co. (NYSE:QS) by 17.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 176,378 shares of the company’s stock after selling 37,000 shares during the period. New York State Common Retirement Fund’s holdings in QuantumScape were worth $915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in QS. State Street Corp grew its holdings in QuantumScape by 1.5% in the 3rd quarter. State Street Corp now owns 5,918,496 shares of the company’s stock valued at $34,031,000 after buying an additional 87,563 shares in the last quarter. Geode Capital Management LLC grew its holdings in QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after buying an additional 218,743 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in QuantumScape by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock valued at $12,806,000 after buying an additional 93,826 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in QuantumScape by 8.7% in the 3rd 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 buying an additional 94,103 shares in the last quarter. Finally, Arthedge Capital Management LLC grew its holdings in QuantumScape by 14.6% in the 3rd quarter. Arthedge Capital Management LLC now owns 723,000 shares of the company’s stock valued at $4,157,000 after buying an additional 92,000 shares in the last quarter. Institutional investors own 29.87% of the company’s stock.

Insider Buying and Selling at QuantumScape

In other news, CFO Kevin Hettrich sold 36,949 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $5.06, for a total transaction of $186,961.94. Following the completion of the transaction, the chief financial officer now directly owns 1,024,325 shares in the company, valued at $5,183,084.50. This trade represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mohit Singh sold 97,305 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the transaction, the insider now owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This trade represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 615,216 shares of company stock worth $3,327,157. 12.03% of the stock is currently owned by insiders.

QuantumScape Price Performance

Shares of QS stock opened at $4.25 on Tuesday. 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 Co. has a twelve month low of $4.25 and a twelve month high of $9.52. The company has a market cap of $2.18 billion, a P/E ratio of -4.52 and a beta of 4.45. The business has a fifty day simple moving average of $5.26 and a 200 day simple moving average of $5.36.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.01). On average, sell-side analysts forecast that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Hsbc Global Res raised QuantumScape to a “hold” rating in a report on Tuesday, November 19th. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a report on Tuesday, November 19th. Truist Financial reduced their target price on QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Finally, Evercore ISI restated a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.06.

About QuantumScape

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.