Ballentine Partners LLC Purchases Shares of 29,140 QuantumScape Corporation $QS

Key Points

• Ballentine Partners LLC has acquired 29,140 shares of QuantumScape Corporation, valued at approximately $196,000, marking a continued interest from institutional investors in the company.
• Insider trading was notable, with Director Fritz Prinz selling 929,813 shares for over $10.8 million, significantly decreasing their position by 85.21%.
• Research analysts have given QuantumScape a consensus rating of "Reduce" and an average target price of $5.88, following a recent upgrade to a "hold" rating from TD Cowen.

Ballentine Partners LLC purchased a new stake in shares of QuantumScape Corporation (NYSE:QS - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 29,140 shares of the company's stock, valued at approximately $196,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. M&T Bank Corp raised its position in QuantumScape by 97.2% during the 1st quarter. M&T Bank Corp now owns 39,964 shares of the company's stock valued at $166,000 after purchasing an additional 19,694 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of QuantumScape by 362.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock worth $1,577,000 after acquiring an additional 297,097 shares in the last quarter. Nuveen LLC bought a new position in shares of QuantumScape in the 1st quarter worth approximately $2,819,000. Perbak Capital Partners LLP bought a new position in shares of QuantumScape in the 1st quarter worth approximately $353,000. Finally, CacheTech Inc. bought a new position in shares of QuantumScape in the 1st quarter worth approximately $130,000. Institutional investors own 29.87% of the company's stock.

Insider Buying and Selling

In related news, Director Fritz Prinz sold 929,813 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $11.62, for a total value of $10,804,427.06. Following the transaction, the director directly owned 161,343 shares of the company's stock, valued at approximately $1,874,805.66. This trade represents a 85.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Timothy Holme sold 358,330 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $7.03, for a total value of $2,519,059.90. Following the completion of the transaction, the chief technology officer directly owned 1,705,428 shares in the company, valued at approximately $11,989,158.84. This represents a 17.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,791,051 shares of company stock worth $34,696,538 in the last quarter. Company insiders own 5.48% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on QS shares. TD Cowen raised QuantumScape to a "hold" rating in a research report on Monday, July 7th. Robert W. Baird increased their target price on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Six research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $5.88.

QuantumScape Price Performance

NYSE QS opened at $12.32 on Wednesday. The business's fifty day moving average price is $9.67 and its 200-day moving average price is $6.74. The stock has a market capitalization of $6.97 billion, a price-to-earnings ratio of -14.32 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. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $15.03.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, hitting analysts' consensus estimates of ($0.20). The company had revenue of $36.67 million during the quarter. During the same quarter in the prior year, the company posted ($0.25) earnings per share. On average, equities analysts predict that QuantumScape Corporation will post -0.82 earnings per share 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.

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