Principal Financial Group Inc. Sells 2,890 Shares of QuantumScape Co. (NYSE:QS)

Principal Financial Group Inc. decreased its holdings in QuantumScape Co. (NYSE:QS) by 12.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,687 shares of the company’s stock after selling 2,890 shares during the period. Principal Financial Group Inc.’s holdings in QuantumScape were worth $102,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of QS. Geode Capital Management LLC boosted its holdings in shares of QuantumScape by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after acquiring an additional 218,743 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of QuantumScape during the 3rd quarter valued at $828,000. SG Americas Securities LLC lifted its holdings in QuantumScape by 127.0% during the 4th quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock worth $1,062,000 after buying an additional 114,504 shares during the period. Barclays PLC lifted its holdings in QuantumScape by 326.5% during the 3rd quarter. Barclays PLC now owns 104,333 shares of the company’s stock worth $599,000 after buying an additional 79,871 shares during the period. Finally, KBC Group NV lifted its holdings in QuantumScape by 14.0% during the 4th quarter. KBC Group NV now owns 59,982 shares of the company’s stock worth $311,000 after buying an additional 7,360 shares during the period. Institutional investors own 29.87% of the company’s stock.

Insider Activity at QuantumScape

In other news, Director Jagdeep Singh sold 308,097 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.30, for a total value of $1,632,914.10. Following the transaction, the director now owns 2,563,767 shares in the company, valued at $13,587,965.10. The trade was a 10.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the transaction, the insider now owns 1,092,020 shares in the company, valued at $6,814,204.80. The trade was a 8.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 585,549 shares of company stock valued at $3,175,856 in the last three months. Corporate insiders own 12.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on QS shares. Evercore ISI reaffirmed a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. 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 cut 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, Hsbc Global Res raised QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.06.

QuantumScape Stock Performance

QS stock opened at $4.48 on Friday. The stock has a 50-day moving average price of $5.16 and a 200-day moving average price of $5.33. QuantumScape Co. has a 1-year low of $4.05 and a 1-year high of $9.52. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.29 billion, a PE ratio of -4.76 and a beta of 4.45.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). As a group, equities research analysts expect that QuantumScape Co. will post -0.82 earnings per share for the current year.

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.