396,300 Shares in QuantumScape Co. (NYSE:QS) Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new stake in QuantumScape Co. (NYSE:QS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 396,300 shares of the company's stock, valued at approximately $1,950,000. Canada Pension Plan Investment Board owned about 0.08% of QuantumScape as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of QuantumScape by 240.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company's stock worth $26,770,000 after purchasing an additional 3,004,964 shares in the last quarter. Norges Bank bought a new position in QuantumScape in the 4th quarter valued at $18,482,000. Vanguard Group Inc. raised its position in shares of QuantumScape by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company's stock worth $207,306,000 after acquiring an additional 796,723 shares during the last quarter. American Century Companies Inc. raised its position in shares of QuantumScape by 880.6% during the second quarter. American Century Companies Inc. now owns 352,286 shares of the company's stock worth $1,733,000 after acquiring an additional 316,361 shares during the last quarter. Finally, Baillie Gifford & Co. increased its holdings in QuantumScape by 10.3% in the first quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company's stock valued at $16,854,000 after purchasing an additional 251,186 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company's stock.

QuantumScape Price Performance

NYSE:QS traded up $0.21 during trading hours on Friday, reaching $6.01. 7,350,072 shares of the company were exchanged, compared to its average volume of 8,573,071. The company has a market capitalization of $3.04 billion, a P/E ratio of -6.36 and a beta of 4.59. QuantumScape Co. has a 1-year low of $4.67 and a 1-year high of $10.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 8.66. The business has a 50 day moving average of $6.05 and a 200 day moving average of $5.86.

QuantumScape (NYSE:QS - Get Free Report) last issued its earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.03). During the same quarter in the previous year, the business earned ($0.26) earnings per share. Research analysts forecast that QuantumScape Co. will post -0.9 EPS for the current year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 25,816 shares of the firm's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.87, for a total value of $125,723.92. Following the sale, the director now owns 267,011 shares of the company's stock, valued at approximately $1,300,343.57. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Michael O. Mccarthy III sold 222,476 shares of the firm's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total transaction of $1,463,892.08. Following the sale, the insider now owns 1,283,847 shares of the company's stock, valued at approximately $8,447,713.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fritz Prinz sold 25,816 shares of the firm's stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.87, for a total value of $125,723.92. Following the sale, the director now directly owns 267,011 shares in the company, valued at approximately $1,300,343.57. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,290,500 shares of company stock valued at $7,719,701. 10.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on QS. Truist Financial reissued a "hold" rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. Finally, Wolfe Research started coverage on QuantumScape in a research note on Thursday, September 5th. They set an "underperform" rating on the stock. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $5.95.

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.