LPL Financial LLC Sells 127,361 Shares of QuantumScape Co. (NYSE:QS)

LPL Financial LLC cut its position in QuantumScape Co. (NYSE:QS - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 535,597 shares of the company's stock after selling 127,361 shares during the period. LPL Financial LLC owned about 0.10% of QuantumScape worth $2,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in QS. Fox Run Management L.L.C. lifted its stake in QuantumScape by 143.8% in the fourth quarter. Fox Run Management L.L.C. now owns 31,477 shares of the company's stock valued at $163,000 after buying an additional 18,564 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in QuantumScape in the 4th quarter worth $403,000. American Century Companies Inc. raised its stake in shares of QuantumScape by 1,091.5% in the 4th quarter. American Century Companies Inc. now owns 432,455 shares of the company's stock valued at $2,244,000 after purchasing an additional 396,160 shares during the period. Virtu Financial LLC grew its holdings in shares of QuantumScape by 382.9% during the fourth quarter. Virtu Financial LLC now owns 197,252 shares of the company's stock worth $1,024,000 after buying an additional 156,407 shares in the last quarter. Finally, Xponance Inc. raised its position in QuantumScape by 17.8% in the 4th quarter. Xponance Inc. now owns 15,862 shares of the company's stock valued at $82,000 after buying an additional 2,400 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on QS. Truist Financial reduced their target price on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a report on Friday, February 14th. The Goldman Sachs Group decreased their target price on QuantumScape from $4.00 to $3.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Evercore ISI reaffirmed a "hold" rating on shares of QuantumScape in a report on Tuesday, February 25th. Finally, UBS Group downgraded shares of 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 report on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $5.13.

QuantumScape Price Performance

Shares of NYSE QS traded down $0.01 during mid-day trading on Thursday, reaching $3.69. The company had a trading volume of 911,319 shares, compared to its average volume of 12,813,863. QuantumScape Co. has a one year low of $3.40 and a one year high of $9.52. The business's 50-day simple moving average is $4.44 and its 200 day simple moving average is $4.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -3.91 and a beta of 4.37.

QuantumScape (NYSE:QS - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.01). On average, research analysts predict that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In related news, insider Michael O. Mccarthy III sold 76,315 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.23, for a total transaction of $399,127.45. Following the sale, the insider now owns 1,010,523 shares in the company, valued at $5,285,035.29. The trade was a 7.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $5.22, for a total value of $67,379.76. Following the sale, the director now directly owns 228,287 shares in the company, valued at $1,191,658.14. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 180,147 shares of company stock worth $935,758 over the last 90 days. Insiders own 12.03% of the company's stock.

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.