American Century Companies Inc. Purchases 396,160 Shares of QuantumScape Co. (NYSE:QS)

American Century Companies Inc. raised its stake in QuantumScape Co. (NYSE:QS - Free Report) by 1,091.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 432,455 shares of the company's stock after buying an additional 396,160 shares during the period. American Century Companies Inc. owned approximately 0.08% of QuantumScape worth $2,244,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of QS. Raymond James Financial Inc. acquired a new position in QuantumScape in the 4th quarter worth approximately $1,527,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of QuantumScape in the fourth quarter valued at $1,275,000. Geode Capital Management LLC boosted its position 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 buying an additional 218,743 shares during the period. Virtu Financial LLC grew its holdings in shares of QuantumScape by 382.9% during the fourth quarter. Virtu Financial LLC now owns 197,252 shares of the company's stock valued at $1,024,000 after buying an additional 156,407 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in QuantumScape during the third quarter valued at $828,000. Institutional investors and hedge funds own 29.87% of the company's stock.

Insiders Place Their Bets

In other news, insider Michael O. Mccarthy III sold 76,315 shares of QuantumScape stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $399,127.45. Following the completion of the transaction, the insider now owns 1,010,523 shares in the company, valued at approximately $5,285,035.29. The trade was a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Hettrich sold 36,949 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $5.06, for a total value of $186,961.94. Following the sale, the chief financial officer now owns 1,024,325 shares in the company, valued at approximately $5,183,084.50. This trade represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 180,147 shares of company stock worth $935,758 over the last quarter. Company insiders own 12.03% of the company's stock.

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Analyst Ratings Changes

A number of research analysts recently commented on the stock. UBS Group downgraded shares of QuantumScape from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $5.00 to $2.50 in a research report on Thursday. Truist Financial cut their price objective on QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a report on Friday, February 14th. The Goldman Sachs Group dropped their target price on QuantumScape from $4.00 to $3.00 and set a "sell" rating on the stock in a research report on Thursday. Finally, Evercore ISI reiterated a "hold" rating on shares of QuantumScape in a report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to data from MarketBeat, QuantumScape currently has a consensus rating of "Hold" and an average target price of $5.13.

QuantumScape Stock Performance

QS traded down $0.01 during midday trading on Friday, reaching $3.77. The company's stock had a trading volume of 8,183,821 shares, compared to its average volume of 10,676,335. 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 company has a fifty day simple moving average of $4.51 and a 200 day simple moving average of $5.03. The stock has a market cap of $2.06 billion, a P/E ratio of -4.01 and a beta of 4.37. QuantumScape Co. has a twelve month low of $3.40 and a twelve month high of $9.52.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Research analysts expect that QuantumScape Co. will post -0.82 earnings per share for the current year.

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.