Arthedge Capital Management LLC Acquires 125,000 Shares of QuantumScape Corporation $QS

Key Points

• Arthedge Capital Management increased its QuantumScape stake by 17.3% in Q2, buying 125,000 shares to hold 848,000 shares (about 0.15% of the company) valued at $5.699M, making QS its 10th largest holding.
• Multiple large institutions—including Vanguard, Geode, UBS, Bank of America and BNP Paribas—also raised positions, leaving hedge funds and other institutional investors with roughly 29.87% of QuantumScape’s stock.
• Insider selling has been heavy, with 3,116,491 shares sold in the last 90 days (~$47.4M), while analysts have an average "Reduce" rating and a mean price target near $9.17 as the stock trades around $11.82.

Arthedge Capital Management LLC lifted its holdings in shares of QuantumScape Corporation (NYSE:QS - Free Report) by 17.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 848,000 shares of the company's stock after purchasing an additional 125,000 shares during the period. QuantumScape comprises approximately 3.3% of Arthedge Capital Management LLC's holdings, making the stock its 10th biggest holding. Arthedge Capital Management LLC owned 0.15% of QuantumScape worth $5,699,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in QuantumScape by 9.0% during 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 last quarter. Geode Capital Management LLC boosted its stake in shares of QuantumScape by 12.5% during the second quarter. Geode Capital Management LLC now owns 6,914,680 shares of the company's stock valued at $46,475,000 after acquiring an additional 768,070 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of QuantumScape by 456.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock valued at $19,799,000 after acquiring an additional 3,904,168 shares during the last quarter. Bank of America Corp DE increased its position in QuantumScape by 148.0% during the 2nd quarter. Bank of America Corp DE now owns 2,803,989 shares of the company's stock worth $18,843,000 after purchasing an additional 1,673,472 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in QuantumScape by 2,036.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company's stock valued at $16,483,000 after purchasing an additional 2,338,038 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

Insiders Place Their Bets

In other QuantumScape news, CTO Timothy Holme sold 201,785 shares of the company's stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $12.51, for a total transaction of $2,524,330.35. Following the completion of the sale, the chief technology officer directly owned 1,251,383 shares in the company, valued at $15,654,801.33. This represents a 13.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brad W. Buss sold 400,000 shares of QuantumScape stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $15.75, for a total value of $6,300,000.00. Following the completion of the transaction, the director directly owned 122,476 shares in the company, valued at $1,928,997. This represents a 76.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,116,491 shares of company stock worth $47,370,223. Corporate insiders own 5.48% of the company's stock.

QuantumScape Price Performance

QuantumScape stock opened at $11.82 on Monday. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year high of $19.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. The firm has a 50 day moving average price of $14.37 and a 200 day moving average price of $10.63. The company has a market cap of $7.11 billion, a price-to-earnings ratio of -14.59 and a beta of 2.76.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.18). During the same quarter in the previous year, the company posted ($0.23) EPS. Sell-side analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Hsbc Global Res upgraded shares of QuantumScape to a "moderate sell" rating in a report on Wednesday, November 19th. Morgan Stanley assumed coverage on shares of QuantumScape in a research report on Monday, December 8th. They issued an "equal weight" rating and a $12.00 price objective for the company. Cowen restated a "hold" rating on shares of QuantumScape in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft set a $10.00 target price on shares of QuantumScape and gave the stock a "hold" rating in a research note on Thursday, October 23rd. Finally, HSBC downgraded QuantumScape from a "hold" rating to a "reduce" rating and boosted their price target for the company from $5.30 to $10.50 in a report on Wednesday, November 19th. Seven analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, QuantumScape presently has an average rating of "Reduce" and an average price target of $9.17.

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.

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