LPL Financial LLC reduced its position in shares of QuantumScape Co. (NYSE:QS - Free Report) by 19.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 535,597 shares of the company's stock after selling 127,361 shares during the period. LPL Financial LLC owned approximately 0.10% of QuantumScape worth $2,780,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake 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 worth $33,671,000 after purchasing an additional 218,743 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in QuantumScape during the fourth quarter worth about $1,275,000. Charles Schwab Investment Management Inc. increased its holdings in QuantumScape by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company's stock valued at $12,103,000 after buying an additional 104,894 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of QuantumScape during the 4th quarter valued at approximately $1,527,000. Finally, American Century Companies Inc. boosted its stake in shares of QuantumScape by 1,091.5% during the 4th quarter. American Century Companies Inc. now owns 432,455 shares of the company's stock worth $2,244,000 after acquiring an additional 396,160 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on QS. UBS Group cut QuantumScape from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. The Goldman Sachs Group cut their price target on QuantumScape from $4.00 to $3.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Truist Financial lowered their price objective 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. Finally, Evercore ISI restated a "hold" rating on shares of QuantumScape in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, QuantumScape has a consensus rating of "Hold" and an average price target of $5.13.
Check Out Our Latest Stock Report on QS
Insider Transactions at QuantumScape
In other QuantumScape news, CFO Kevin Hettrich sold 36,949 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $5.06, for a total transaction of $186,961.94. Following the transaction, the chief financial officer now owns 1,024,325 shares of the company's stock, valued at $5,183,084.50. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.22, for a total transaction of $67,379.76. Following the sale, the director now directly owns 228,287 shares of the company's stock, valued at $1,191,658.14. This represents a 5.35 % 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 three months. Company insiders own 12.03% of the company's stock.
QuantumScape Trading Down 0.7 %
Shares of NYSE:QS traded down $0.03 during trading on Tuesday, reaching $3.79. The stock had a trading volume of 6,182,460 shares, compared to its average volume of 10,669,303. The stock has a market cap of $2.07 billion, a P/E ratio of -4.03 and a beta of 4.37. 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 Co. has a fifty-two week low of $3.40 and a fifty-two week high of $9.52. The business has a fifty day moving average price of $4.49 and a 200-day moving average price of $5.01.
QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data 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, analysts anticipate that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.
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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