Janus Henderson Group PLC cut its position in QuantumScape Co. (NYSE:QS - Free Report) by 91.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 158,546 shares of the company's stock after selling 1,667,359 shares during the period. Janus Henderson Group PLC's holdings in QuantumScape were worth $912,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in QuantumScape by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company's stock worth $12,806,000 after acquiring an additional 93,826 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in QuantumScape by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company's stock worth $6,785,000 after acquiring an additional 94,103 shares during the period. Bank of New York Mellon Corp grew its holdings in QuantumScape by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company's stock worth $4,579,000 after acquiring an additional 11,897 shares during the period. Arthedge Capital Management LLC grew its holdings in QuantumScape by 14.6% during the third quarter. Arthedge Capital Management LLC now owns 723,000 shares of the company's stock worth $4,157,000 after acquiring an additional 92,000 shares during the period. Finally, Private Advisory Group LLC grew its holdings in 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 acquiring an additional 38,477 shares during the period. 29.87% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the sale, the director now owns 241,195 shares of the company's stock, valued at approximately $1,215,622.80. This trade represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $5.99, for a total value of $1,151,697.30. Following the completion of the sale, the director now directly owns 2,590,583 shares of the company's stock, valued at approximately $15,517,592.17. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 858,302 shares of company stock worth $4,701,379 over the last quarter. 12.03% of the stock is currently owned by corporate insiders.
QuantumScape Price Performance
Shares of NYSE QS traded down $0.04 during midday trading on Friday, hitting $4.89. The stock had a trading volume of 8,436,824 shares, compared to its average volume of 9,138,204. The company has a market capitalization of $2.51 billion, a PE ratio of -5.15 and a beta of 4.50. The stock has a 50 day simple moving average of $5.21 and a 200-day simple moving average of $5.67. QuantumScape Co. has a 1 year low of $4.65 and a 1 year high of $10.03. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.
QuantumScape (NYSE:QS - Get Free Report) last released 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 quarter last year, the firm posted ($0.23) earnings per share. On average, sell-side analysts expect that QuantumScape Co. will post -0.99 EPS for the current fiscal year.
Wall Street Analyst Weigh In
QS has been the topic of several analyst reports. Wolfe Research initiated coverage on QuantumScape in a report on Thursday, September 5th. They set an "underperform" rating on the stock. HSBC upgraded QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price target on the stock in a research report on Tuesday, November 19th. Truist Financial reiterated a "hold" rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Finally, Hsbc Global Res upgraded QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $6.26.
Check Out Our Latest Research Report on QS
About QuantumScape
(
Free Report)
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.
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![Institutional Ownership by Quarter for QuantumScape (NYSE:QS)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NYSE&Symbol=QS)
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