KBC Group NV Trims Stock Holdings in QuantumScape Corporation (NYSE:QS)

KBC Group NV lowered its stake in shares of QuantumScape Corporation (NYSE:QS - Free Report) by 63.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,167 shares of the company's stock after selling 37,815 shares during the period. KBC Group NV's holdings in QuantumScape were worth $92,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of QuantumScape by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company's stock worth $12,103,000 after buying an additional 104,894 shares in the last quarter. Arizona State Retirement System raised its position in QuantumScape by 2.3% during the fourth quarter. Arizona State Retirement System now owns 111,364 shares of the company's stock worth $578,000 after acquiring an additional 2,483 shares during the last quarter. Raymond James Financial Inc. acquired a new position in QuantumScape during the fourth quarter worth about $1,527,000. Swiss National Bank raised its position in QuantumScape by 2.2% during the fourth quarter. Swiss National Bank now owns 754,700 shares of the company's stock worth $3,917,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in QuantumScape by 9.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 481,916 shares of the company's stock worth $2,501,000 after acquiring an additional 41,712 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

Insider Activity

In related news, insider Mohit Singh sold 465,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the sale, the insider directly owned 1,641,711 shares in the company, valued at approximately $13,478,447.31. This trade represents a 22.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Fritz Prinz sold 864,708 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $7.02, for a total transaction of $6,070,250.16. Following the sale, the director directly owned 81,364 shares of the company's stock, valued at approximately $571,175.28. The trade was a 91.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,589,468 shares of company stock valued at $18,114,411 in the last three months. Corporate insiders own 12.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group decreased their price objective on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research note on Monday, April 28th. UBS Group lowered QuantumScape from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $5.00 to $2.50 in a research note on Thursday, April 10th. TD Cowen raised QuantumScape to a "hold" rating in a research note on Monday. Finally, Robert W. Baird decreased their price objective on QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $5.19.

QuantumScape Trading Up 1.4%

QS stock traded up $0.13 during trading on Friday, reaching $9.22. 55,418,253 shares of the stock traded hands, compared to its average volume of 15,007,587. The firm has a market capitalization of $5.15 billion, a PE ratio of -10.13 and a beta of 4.42. QuantumScape Corporation has a 52-week low of $3.40 and a 52-week high of $9.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.66 and a quick ratio of 16.66. The business's 50 day moving average price is $4.90 and its 200-day moving average price is $4.78.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter last year, the business earned ($0.24) earnings per share. As a group, sell-side analysts forecast 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.