Charles Schwab Investment Management Inc. Has $9.44 Million Position in QuantumScape Corporation $QS

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in QuantumScape by 2.7%, selling 62,031 shares and retaining approximately 2.27 million shares worth $9.44 million.
• QuantumScape's share price has recently seen a 3.6% increase, trading at $8.34, with a market capitalization of $4.72 billion.
• Despite recent trading activity, QuantumScape reports a projected -0.82 earnings per share for the current fiscal year, indicating continued financial challenges.

Charles Schwab Investment Management Inc. cut its position in shares of QuantumScape Corporation (NYSE:QS - Free Report) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,269,935 shares of the company's stock after selling 62,031 shares during the period. Charles Schwab Investment Management Inc. owned 0.41% of QuantumScape worth $9,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Birchcreek Wealth Management LLC increased its holdings in shares of QuantumScape by 11.5% during the 1st quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company's stock valued at $105,000 after acquiring an additional 2,600 shares during the last quarter. 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 valued at $94,000 after acquiring an additional 2,997 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in shares of QuantumScape by 22.6% during the 1st quarter. Wealthfront Advisers LLC now owns 19,349 shares of the company's stock valued at $80,000 after acquiring an additional 3,571 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of QuantumScape by 9.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 44,087 shares of the company's stock valued at $229,000 after acquiring an additional 3,787 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of QuantumScape by 9.7% during the 1st quarter. Victory Capital Management Inc. now owns 48,399 shares of the company's stock valued at $201,000 after acquiring an additional 4,293 shares during the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Stock Performance

Shares of QS traded down $0.20 on Friday, reaching $7.91. 12,249,252 shares of the stock traded hands, compared to its average volume of 22,638,306. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of -9.19 and a beta of 4.43. 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 12 month low of $3.40 and a 12 month high of $15.03. The stock's 50-day moving average price is $8.89 and its 200-day moving average price is $5.86.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). The company had revenue of $36.67 million during the quarter. During the same quarter last year, the company posted ($0.25) earnings per share. Equities analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

QS has been the topic of a number of research analyst reports. TD Cowen raised QuantumScape to a "hold" rating in a report on Monday, July 7th. Robert W. Baird raised their target price on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a 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 MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $5.90.

Insider Buying and Selling

In related news, insider Mohit Singh sold 465,000 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $8.21, for a total value of $3,817,650.00. Following the sale, the insider owned 1,641,711 shares of the company's stock, valued at $13,478,447.31. The trade was a 22.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Timothy Holme sold 11,906 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $7.02, for a total value of $83,580.12. Following the completion of the sale, the chief technology officer directly owned 1,661,928 shares in the company, valued at approximately $11,666,734.56. This represents a 0.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,956,517 shares of company stock worth $34,977,013 in the last quarter. Corporate insiders own 5.48% of the company's stock.

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.