XTX Topco Ltd Acquires Shares of 372,800 QuantumScape Corporation $QS

Key Points

• XTX Topco Ltd initiated a new position in QuantumScape, buying 372,800 shares in Q2 worth about $2.505 million (roughly 0.07% ownership).
• Insider activity shows heavy selling: insiders disposed of 3,354,663 shares (~$48.48 million) in the last quarter, including CTO Timothy Holme selling 201,785 shares for ~$2.52 million.
• Research firms have a consensus rating of "Reduce" with an average target price of $8.81, while the stock trades around $12.10 (market cap ~$7.27 billion), implying analyst downside.

XTX Topco Ltd bought a new position in QuantumScape Corporation (NYSE:QS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 372,800 shares of the company's stock, valued at approximately $2,505,000. XTX Topco Ltd owned about 0.07% of QuantumScape as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of QS. Federated Hermes Inc. grew its stake in QuantumScape by 660.0% in the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after purchasing an additional 5,438 shares in the last quarter. North Capital Inc. bought a new position in QuantumScape during the 2nd quarter worth approximately $27,000. Quarry LP bought a new position in QuantumScape during the 1st quarter worth approximately $37,000. PNC Financial Services Group Inc. grew its position in shares of QuantumScape by 54.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,565 shares of the company's stock worth $37,000 after acquiring an additional 1,963 shares in the last quarter. Finally, Freedom Investment Management Inc. bought a new stake in shares of QuantumScape in the 1st quarter valued at approximately $43,000. Institutional investors and hedge funds own 29.87% of the company's stock.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, CTO Timothy Holme sold 201,785 shares of the firm's stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $12.51, for a total transaction of $2,524,330.35. Following the transaction, the chief technology officer owned 1,251,383 shares of the company's stock, valued at approximately $15,654,801.33. This trade represents a 13.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael O. Mccarthy III sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $11.79, for a total transaction of $471,600.00. Following the completion of the sale, the insider directly owned 137,888 shares of the company's stock, valued at approximately $1,625,699.52. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,354,663 shares of company stock valued at $48,479,214. 5.48% of the stock is currently owned by insiders.

QuantumScape Stock Performance

QS opened at $12.10 on Thursday. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The business's 50 day moving average is $14.59 and its 200-day moving average is $9.90. The stock has a market cap of $7.27 billion, a PE ratio of -14.93 and a beta of 4.83. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $19.07.

QuantumScape (NYSE:QS - Get Free Report) last posted its earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). During the same period last year, the firm earned ($0.23) earnings per share. On average, analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on QS. Deutsche Bank Aktiengesellschaft set a $10.00 price objective on shares of QuantumScape and gave the stock a "hold" rating in a report on Thursday, October 23rd. TD Cowen increased their target price on shares of QuantumScape from $5.00 to $16.00 and gave the stock a "hold" rating in a report on Thursday, October 30th. HSBC lowered shares of QuantumScape from a "hold" rating to a "reduce" rating and lifted their price target for the company from $5.30 to $10.50 in a report on Wednesday, November 19th. Hsbc Global Res raised shares of QuantumScape to a "moderate sell" rating in a research report on Wednesday, November 19th. Finally, Cowen reissued a "hold" rating on shares of QuantumScape in a report on Thursday, October 30th. Six investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $8.81.

QuantumScape Company 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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