QuantumScape Corporation (NYSE:QS) Shares Sold by KBC Group NV

KBC Group NV cut its position in QuantumScape Corporation (NYSE:QS - Free Report) by 63.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 hedge funds and other institutional investors have also modified their holdings of the company. Xponance Inc. grew its position in QuantumScape by 17.8% during the fourth quarter. Xponance Inc. now owns 15,862 shares of the company's stock worth $82,000 after buying an additional 2,400 shares during the period. Arizona State Retirement System grew its holdings in QuantumScape by 2.3% in the fourth quarter. Arizona State Retirement System now owns 111,364 shares of the company's stock valued at $578,000 after purchasing an additional 2,483 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake 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 buying an additional 2,997 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of QuantumScape by 2.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 158,579 shares of the company's stock worth $823,000 after buying an additional 3,180 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its holdings in 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 in the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Trading Up 5.3%

QuantumScape stock traded up $0.45 during trading on Thursday, reaching $8.81. The company had a trading volume of 36,569,709 shares, compared to its average volume of 14,749,874. QuantumScape Corporation has a 12-month low of $3.40 and a 12-month high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66. The stock's 50 day moving average price is $4.80 and its two-hundred day moving average price is $4.75. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of -9.66 and a beta of 4.42.

QuantumScape (NYSE:QS - Get Free Report) last issued its earnings results 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 period last year, the firm earned ($0.24) earnings per share. As a group, equities analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 325,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $7.21, for a total transaction of $2,343,250.00. Following the sale, the insider owned 1,641,711 shares in the company, valued at $11,836,736.31. This represents a 16.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Timothy Holme sold 11,906 shares of QuantumScape stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $7.02, for a total value of $83,580.12. Following the completion of the transaction, the chief technology officer owned 1,661,928 shares of the company's stock, valued at approximately $11,666,734.56. The trade was a 0.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,124,468 shares of company stock valued at $14,296,761 over the last quarter. Company insiders own 12.03% of the company's stock.

Analysts Set New Price Targets

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

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.