Baillie Gifford & Co. Cuts Stake in QuantumScape Co. (NYSE:QS)

Baillie Gifford & Co. trimmed its position in QuantumScape Co. (NYSE:QS - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,897,654 shares of the company's stock after selling 440,434 shares during the period. Baillie Gifford & Co. owned 0.37% of QuantumScape worth $9,849,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QS. Geode Capital Management LLC grew its stake in shares of 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 during the last quarter. Weiss Asset Management LP purchased a new stake in shares of QuantumScape in the third quarter worth $828,000. Nisa Investment Advisors LLC grew its stake in shares of QuantumScape by 6,650.0% in the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company's stock worth $776,000 after acquiring an additional 133,000 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of QuantumScape by 127.0% in the fourth quarter. SG Americas Securities LLC now owns 204,630 shares of the company's stock worth $1,062,000 after acquiring an additional 114,504 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of QuantumScape in the third quarter worth $555,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Stock Performance

QS stock traded down $0.16 during trading on Friday, reaching $5.18. The stock had a trading volume of 15,076,086 shares, compared to its average volume of 15,879,275. QuantumScape Co. has a 52 week low of $4.65 and a 52 week high of $9.52. The stock's 50 day moving average is $5.29 and its two-hundred day moving average is $5.40. 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 $2.65 billion, a PE ratio of -5.51 and a beta of 4.45.

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

Insider Buying and Selling at QuantumScape

In other news, insider Michael O. Mccarthy III sold 76,315 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $399,127.45. Following the transaction, the insider now owns 1,010,523 shares of the company's stock, valued at $5,285,035.29. This trade represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the transaction, the insider now directly owns 1,092,020 shares in the company, valued at $6,814,204.80. This trade represents a 8.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 615,216 shares of company stock valued at $3,327,157. 12.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on QS. HSBC raised QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 target price on the stock in a research note on Tuesday, November 19th. Hsbc Global Res raised QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. Evercore ISI dropped their price objective on QuantumScape from $10.00 to $8.00 and set an "outperform" rating on the stock in a research report on Tuesday. Finally, Truist Financial dropped their price objective on QuantumScape from $7.00 to $6.00 and set a "hold" rating on the stock in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, QuantumScape currently has an average rating of "Hold" and a consensus price target of $6.06.

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.