Insider Selling: QuantumScape Corporation (NYSE:QS) CTO Sells 43,500 Shares of Stock

QuantumScape Corporation (NYSE:QS - Get Free Report) CTO Timothy Holme sold 43,500 shares of the business's 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 $305,370.00. Following the transaction, the chief technology officer owned 1,661,928 shares in the company, valued at $11,666,734.56. The trade was a 2.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Timothy Holme also recently made the following trade(s):

• On Monday, July 7th, Timothy Holme sold 11,906 shares of QuantumScape stock. The shares were sold at an average price of $7.02, for a total value of $83,580.12.
• On Thursday, July 3rd, Timothy Holme sold 98,073 shares of QuantumScape stock. The stock was sold at an average price of $7.03, for a total value of $689,453.19.
• On Thursday, July 3rd, Timothy Holme sold 358,330 shares of QuantumScape stock. The shares were sold at an average price of $7.03, for a total value of $2,519,059.90.

QuantumScape Stock Up 16.5%

Shares of QS stock traded up $1.16 on Tuesday, hitting $8.17. The company's stock had a trading volume of 73,015,118 shares, compared to its average volume of 14,482,906. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of -8.98 and a beta of 4.42. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.66 and a quick ratio of 16.66. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $9.52. The firm's fifty day moving average price is $4.62 and its 200-day moving average price is $4.70.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same period in the previous year, the business earned ($0.24) EPS. Research analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

Institutional Trading of QuantumScape

Hedge funds have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in QuantumScape by 456.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock valued at $19,799,000 after acquiring an additional 3,904,168 shares during the last quarter. Norges Bank acquired a new stake in QuantumScape in the fourth quarter worth $17,762,000. Vanguard Group Inc. raised its holdings in shares of QuantumScape by 9.0% during the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock worth $147,064,000 after acquiring an additional 2,911,362 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of QuantumScape by 55.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock worth $30,183,000 after acquiring an additional 2,066,844 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of QuantumScape during the first quarter worth $2,819,000. Institutional investors and hedge funds own 29.87% of the company's stock.

Analysts Set New Price Targets

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

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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