American Century Companies Inc. Buys 171,197 Shares of QuantumScape Corporation $QS

Key Points

• American Century Companies Inc. has increased its stake in QuantumScape Corporation by 39.6%, acquiring 171,197 shares and bringing its total ownership to approximately 0.11% of the company, valued at around $2.51 million.
• Recent analyst ratings show a mix of perspectives, with Robert W. Baird raising their price target from $6.00 to $11.00 while the stock has a consensus rating of "Reduce" and an average price target of $5.90.
• Insiders have sold a total of 3,956,517 shares of QuantumScape stock, amounting to nearly $35 million in the last three months, indicating significant insider selling activity.

American Century Companies Inc. raised its holdings in shares of QuantumScape Corporation (NYSE:QS - Free Report) by 39.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 603,652 shares of the company's stock after buying an additional 171,197 shares during the quarter. American Century Companies Inc. owned about 0.11% of QuantumScape worth $2,511,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of QS. Birchcreek Wealth Management LLC increased its position in QuantumScape by 11.5% during the first quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company's stock worth $105,000 after acquiring an additional 2,600 shares during the period. HighTower Advisors LLC increased its holdings in shares of QuantumScape by 13.7% during the 1st quarter. HighTower Advisors LLC now owns 23,611 shares of the company's stock worth $98,000 after purchasing an additional 2,838 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of QuantumScape by 19.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,199 shares of the company's stock worth $94,000 after purchasing an additional 2,997 shares during the period. Wealthfront Advisers LLC raised its position in shares of QuantumScape by 22.6% during the first quarter. Wealthfront Advisers LLC now owns 19,349 shares of the company's stock valued at $80,000 after buying an additional 3,571 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of QuantumScape by 9.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 44,087 shares of the company's stock valued at $229,000 after buying an additional 3,787 shares during the period. 29.87% of the stock is owned by institutional investors.

QuantumScape Price Performance

Shares of QS traded up $0.10 during trading hours on Wednesday, hitting $7.83. The stock had a trading volume of 8,748,961 shares, compared to its average volume of 23,786,139. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of -9.11 and a beta of 4.42. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40. The company's fifty day moving average is $9.03 and its two-hundred day moving average is $5.90. QuantumScape Corporation has a 52 week low of $3.40 and a 52 week high of $15.03.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, meeting analysts' consensus estimates of ($0.20). The firm had revenue of $36.67 million during the quarter. During the same quarter in the previous year, the business posted ($0.25) EPS. On average, analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, insider Michael O. Mccarthy III sold 500,000 shares of the firm's 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 directly owned 1,467,183 shares of the company's stock, valued at $17,019,322.80. This trade represents a 25.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fritz Prinz sold 929,813 shares of QuantumScape 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 completion of the transaction, the director owned 161,343 shares of the company's stock, valued at approximately $1,874,805.66. The trade was a 85.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,956,517 shares of company stock valued at $34,977,013 over the last quarter. 5.48% of the stock is owned by 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.