Insider Selling: QuantumScape Corporation (NYSE:QS) Insider Sells 500,000 Shares of Stock

Key Points

• Insider Activity: QuantumScape insider Michael O. McCarthy III sold 500,000 shares at an average price of $11.60, totaling $5.8 million, reducing his ownership stake by 25.42%.
• Stock Performance: The stock price declined by 15.4%, trading at $9.29, with a market capitalization of $5.19 billion and a significant trading volume of over 73 million shares.
• Analyst Ratings: Analysts have mixed opinions on QuantumScape, with a majority holding a "sell" or "hold" rating and an average target price of $5.90.

QuantumScape Corporation (NYSE:QS - Get Free Report) insider Michael O. Mccarthy III sold 500,000 shares of QuantumScape stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $11.60, for a total value of $5,800,000.00. Following the transaction, the insider owned 1,467,183 shares of the company's stock, valued at $17,019,322.80. The trade was a 25.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

QuantumScape Stock Performance

Shares of QS stock traded down $0.48 during trading hours on Wednesday, hitting $8.80. 44,734,363 shares of the company were exchanged, compared to its average volume of 23,993,443. The firm has a fifty day simple moving average of $6.90 and a 200 day simple moving average of $5.32. The company has a current ratio of 16.40, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03. QuantumScape Corporation has a 52-week low of $3.40 and a 52-week high of $15.03. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of -10.20 and a beta of 4.42.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.20). The business had revenue of $36.67 million during the quarter. During the same period last year, the company earned ($0.25) EPS. Research analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of QuantumScape by 456.5% in the 1st 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 bought a new stake in QuantumScape in the fourth quarter valued at approximately $17,762,000. Vanguard Group Inc. grew its holdings in shares of QuantumScape by 9.0% in the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock worth $147,064,000 after purchasing an additional 2,911,362 shares during the last quarter. Dimensional Fund Advisors LP boosted 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 purchasing an additional 2,066,844 shares during the period. Finally, Nuveen LLC bought a new stake in shares of QuantumScape in the first quarter worth about $2,819,000. Institutional investors own 29.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. TD Cowen upgraded QuantumScape to a "hold" rating in a report on Monday, July 7th. UBS Group downgraded QuantumScape from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $5.00 to $2.50 in a research note on Thursday, April 10th. Robert W. Baird increased their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group cut their price objective on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. Three equities 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, the company has a consensus rating of "Hold" and a consensus target price of $5.90.

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.