Nuveen LLC Acquires Shares of 677,652 QuantumScape Corporation $QS

Key Points

• Nuveen LLC acquired a new stake in QuantumScape Corporation, purchasing 677,652 shares valued at approximately $2.8 million, representing 0.12% of the company's stock.
• QuantumScape's shares traded down 2.4% to $7.91, with a recent average trading volume of over 22 million shares.
• Insider trading reports indicate significant sales by company insiders, with a notable 500,000 shares sold by Michael O. McCarthy III for $5.8 million, reflecting a 25.42% decrease in his ownership.

Nuveen LLC acquired a new stake in QuantumScape Corporation (NYSE:QS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 677,652 shares of the company's stock, valued at approximately $2,819,000. Nuveen LLC owned 0.12% of QuantumScape at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in QuantumScape by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock valued at $147,064,000 after buying an additional 2,911,362 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of QuantumScape by 55.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock valued at $30,183,000 after purchasing an additional 2,066,844 shares in the last quarter. Northern Trust Corp raised its holdings in shares of QuantumScape by 8.2% in the 4th quarter. Northern Trust Corp now owns 1,724,845 shares of the company's stock valued at $8,952,000 after purchasing an additional 130,849 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of QuantumScape by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 941,148 shares of the company's stock valued at $3,915,000 after purchasing an additional 19,764 shares in the last quarter. Finally, Centiva Capital LP raised its holdings in shares of QuantumScape by 479.0% in the 4th quarter. Centiva Capital LP now owns 558,715 shares of the company's stock valued at $2,900,000 after purchasing an additional 462,218 shares in the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on QS shares. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a report on Monday, July 7th. Robert W. Baird boosted their price target on shares of QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Seven analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $5.90.

QuantumScape Stock Down 2.4%

Shares of NYSE QS traded down $0.20 during trading hours on Friday, hitting $7.91. 12,249,252 shares of the stock were exchanged, compared to its average volume of 22,638,306. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03. The company has a market cap of $4.47 billion, a PE ratio of -9.19 and a beta of 4.43. The firm has a fifty day moving average price of $8.89 and a 200-day moving average price of $5.86. QuantumScape Corporation has a 12 month low of $3.40 and a 12 month high of $15.03.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.20). The company had revenue of $36.67 million for the quarter. During the same quarter last year, the firm earned ($0.25) EPS. On average, sell-side analysts expect that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Activity at QuantumScape

In other news, Director Fritz Prinz sold 929,813 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $11.62, for a total value of $10,804,427.06. Following the sale, the director owned 161,343 shares in the company, valued at $1,874,805.66. This represents a 85.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael O. Mccarthy III sold 500,000 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $11.60, for a total transaction of $5,800,000.00. Following the completion of the sale, the insider owned 1,467,183 shares in the company, valued at $17,019,322.80. The trade was a 25.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,956,517 shares of company stock worth $34,977,013. 5.48% of the stock is owned by company insiders.

QuantumScape 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.