US Bancorp DE Reduces Stock Holdings in QuantumScape Co. (NYSE:QS)

US Bancorp DE cut its position in shares of QuantumScape Co. (NYSE:QS) by 43.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,734 shares of the company’s stock after selling 21,602 shares during the period. US Bancorp DE’s holdings in QuantumScape were worth $159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after buying an additional 656,646 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of QuantumScape during the second quarter valued at about $1,950,000. American Century Companies Inc. raised its stake in shares of QuantumScape by 880.6% in the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after acquiring an additional 316,361 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of QuantumScape in the 1st quarter worth approximately $1,002,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of QuantumScape by 6,650.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after purchasing an additional 133,000 shares during the period. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total transaction of $76,931.68. Following the transaction, the director now owns 254,103 shares of the company’s stock, valued at $1,514,453.88. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the completion of the sale, the director now owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. This represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 713,986 shares of company stock worth $4,148,984. Corporate insiders own 12.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on QS. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Wolfe Research started coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating on the stock. Finally, Truist Financial reaffirmed a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.14.

QuantumScape Stock Performance

NYSE:QS opened at $4.74 on Friday. The firm has a market capitalization of $2.43 billion, a PE ratio of -4.99 and a beta of 4.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The business’s fifty day moving average price is $5.49 and its 200 day moving average price is $5.76. QuantumScape Co. has a 12 month low of $4.67 and a 12 month high of $10.03.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the previous year, the firm posted ($0.23) earnings per share. On average, sell-side analysts anticipate that QuantumScape Co. will post -0.97 earnings per share 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.