Vanguard Group Inc. Purchases 956,072 Shares of QuantumScape Co. (NYSE:QS)

Vanguard Group Inc. boosted its position in QuantumScape Co. (NYSE:QS) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,440,612 shares of the company’s stock after purchasing an additional 956,072 shares during the quarter. Vanguard Group Inc. owned approximately 0.06% of QuantumScape worth $168,367,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in shares of QuantumScape by 1,091.5% during the fourth quarter. American Century Companies Inc. now owns 432,455 shares of the company’s stock valued at $2,244,000 after purchasing an additional 396,160 shares during the last quarter. Raymond James Financial Inc. purchased a new position in QuantumScape during the fourth quarter valued at $1,527,000. Y Intercept Hong Kong Ltd purchased a new position in QuantumScape during the fourth quarter valued at $1,275,000. Geode Capital Management LLC boosted its holdings in QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after acquiring an additional 218,743 shares in the last quarter. Finally, Virtu Financial LLC grew its stake in shares of QuantumScape by 382.9% in the fourth quarter. Virtu Financial LLC now owns 197,252 shares of the company’s stock worth $1,024,000 after acquiring an additional 156,407 shares during the last quarter. Institutional investors own 29.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on QS. Truist Financial dropped their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.06.

Insider Transactions at QuantumScape

In other news, CFO Kevin Hettrich sold 36,949 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $5.06, for a total value of $186,961.94. Following the completion of the transaction, the chief financial officer now owns 1,024,325 shares of the company’s stock, valued at $5,183,084.50. This represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael O. Mccarthy III sold 76,315 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $399,127.45. Following the sale, the insider now directly owns 1,010,523 shares of the company’s stock, valued at approximately $5,285,035.29. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 180,147 shares of company stock worth $935,758 in the last ninety days. Insiders own 12.03% of the company’s stock.

QuantumScape Trading Down 4.4 %

QuantumScape stock opened at $3.82 on Monday. QuantumScape Co. has a one year low of $3.53 and a one year high of $9.52. The business’s fifty day moving average is $4.70 and its 200 day moving average is $5.12. 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 stock has a market capitalization of $2.09 billion, a PE ratio of -4.06 and a beta of 4.37.

QuantumScape (NYSE:QS) last announced its quarterly 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). On average, sell-side analysts predict that QuantumScape Co. will post -0.82 EPS 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.