American Century Companies Inc. Buys 316,361 Shares of QuantumScape Co. (NYSE:QS)

American Century Companies Inc. grew its holdings in QuantumScape Co. (NYSE:QS - Free Report) by 880.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 352,286 shares of the company's stock after purchasing an additional 316,361 shares during the period. American Century Companies Inc. owned about 0.07% of QuantumScape worth $1,733,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. 180 Wealth Advisors LLC boosted its position in QuantumScape by 2.7% during the second quarter. 180 Wealth Advisors LLC now owns 79,741 shares of the company's stock valued at $392,000 after purchasing an additional 2,059 shares during the last quarter. CWM LLC increased its holdings in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company's stock worth $35,000 after buying an additional 2,556 shares during the last quarter. Carson Advisory Inc. raised its position in QuantumScape by 13.6% during the first quarter. Carson Advisory Inc. now owns 24,250 shares of the company's stock worth $153,000 after acquiring an additional 2,900 shares in the last quarter. Arizona State Retirement System grew its position in shares of QuantumScape by 4.6% in the 2nd quarter. Arizona State Retirement System now owns 98,800 shares of the company's stock valued at $486,000 after acquiring an additional 4,330 shares during the period. Finally, HBK Sorce Advisory LLC increased its stake in shares of QuantumScape by 23.1% during the 1st quarter. HBK Sorce Advisory LLC now owns 26,537 shares of the company's stock worth $167,000 after purchasing an additional 4,986 shares during the last quarter. Institutional investors own 29.87% of the company's stock.

Analysts Set New Price Targets

QS has been the subject of several recent analyst reports. Wolfe Research began coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an "underperform" rating for the company. Truist Financial reaffirmed a "hold" rating and issued a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, QuantumScape currently has an average rating of "Hold" and a consensus price target of $5.95.

Insider Buying and Selling at QuantumScape

In related news, insider Michael O. Mccarthy III sold 222,476 shares of the business's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total value of $1,463,892.08. Following the completion of the sale, the insider now directly owns 1,283,847 shares in the company, valued at $8,447,713.26. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Michael O. Mccarthy III sold 222,476 shares of the business's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total value of $1,463,892.08. Following the completion of the transaction, the insider now owns 1,283,847 shares of the company's stock, valued at $8,447,713.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total transaction of $1,151,697.30. Following the sale, the director now owns 2,590,583 shares in the company, valued at $15,517,592.17. The disclosure for this sale can be found here. Insiders sold 1,264,684 shares of company stock valued at $7,593,977 in the last quarter. Company insiders own 10.18% of the company's stock.

QuantumScape Price Performance

QuantumScape stock opened at $6.01 on Monday. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -6.26 and a beta of 4.59. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.03. QuantumScape Co. has a 12 month low of $4.67 and a 12 month high of $10.03. The stock's 50 day moving average is $6.01 and its 200-day moving average is $5.86.

QuantumScape (NYSE:QS - Get Free Report) last posted 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 period in the prior year, the business earned ($0.26) earnings per share. Equities research analysts expect that QuantumScape Co. will post -0.9 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.