Principal Financial Group Inc. Trims Stock Holdings in QuantumScape Co. (NYSE:QS)

Principal Financial Group Inc. trimmed its stake in QuantumScape Co. (NYSE:QS) by 11.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,577 shares of the company’s stock after selling 3,053 shares during the period. Principal Financial Group Inc.’s holdings in QuantumScape were worth $130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in QuantumScape by 2.2% in the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after purchasing an additional 656,646 shares in the last quarter. Janus Henderson Group PLC lifted its position in QuantumScape by 1.4% during the first quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock valued at $11,482,000 after acquiring an additional 25,347 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in QuantumScape by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock valued at $4,579,000 after acquiring an additional 11,897 shares in the last quarter. Private Advisory Group LLC increased its position in shares of QuantumScape by 7.2% during the second quarter. Private Advisory Group LLC now owns 570,704 shares of the company’s stock worth $2,808,000 after purchasing an additional 38,477 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of QuantumScape during the 2nd quarter valued at $1,950,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Jurgen Leohold sold 17,435 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.00, for a total value of $104,610.00. Following the transaction, the director now owns 194,904 shares of the company’s stock, valued at $1,169,424. This represents a 8.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin Hettrich sold 58,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total transaction of $335,240.00. Following the completion of the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $6,202,067.16. This trade represents a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 702,057 shares of company stock worth $3,982,909 in the last ninety days. 12.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QS. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research note on Tuesday, November 19th. Truist Financial restated a “hold” rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Wolfe Research started coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating on the stock. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, QuantumScape has a consensus rating of “Hold” and an average target price of $6.26.

QuantumScape Stock Up 3.7 %

Shares of QS opened at $5.35 on Tuesday. The stock has a 50 day moving average price of $5.40 and a 200 day moving average price of $5.74. QuantumScape Co. has a one year low of $4.65 and a one year high of $10.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -5.63 and a beta of 4.60.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the prior year, the business posted ($0.23) EPS. Equities research analysts forecast that QuantumScape Co. will post -0.99 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.