Timothy Holme Sells 358,330 Shares of QuantumScape Corporation (NYSE:QS) Stock

QuantumScape Corporation (NYSE:QS - Get Free Report) CTO Timothy Holme sold 358,330 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $7.03, for a total transaction of $2,519,059.90. Following the completion of the transaction, the chief technology officer owned 1,705,428 shares of the company's stock, valued at approximately $11,989,158.84. The trade was a 17.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, July 7th, Timothy Holme sold 11,906 shares of QuantumScape stock. The stock was sold at an average price of $7.02, for a total transaction of $83,580.12.
• On Monday, July 7th, Timothy Holme sold 43,500 shares of QuantumScape stock. The stock was sold at an average price of $7.02, for a total transaction of $305,370.00.
• On Thursday, July 3rd, Timothy Holme sold 98,073 shares of QuantumScape stock. The shares were sold at an average price of $7.03, for a total transaction of $689,453.19.

QuantumScape Price Performance

Shares of NYSE:QS traded up $0.64 on Friday, hitting $9.73. The stock had a trading volume of 35,406,684 shares, compared to its average volume of 14,933,157. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $9.74. 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 firm's 50 day moving average price is $4.90 and its 200-day moving average price is $4.78. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of -10.69 and a beta of 4.42.

QuantumScape (NYSE:QS - Get Free Report) last issued 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 last year, the business posted ($0.24) EPS. On average, equities research analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

QS has been the subject of a number of analyst reports. UBS Group cut shares of QuantumScape from a "neutral" rating to a "sell" rating and reduced their target price for the company from $5.00 to $2.50 in a research note on Thursday, April 10th. Robert W. Baird dropped 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 dropped their price target 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. Finally, TD Cowen raised 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 company. Based on data from MarketBeat.com, QuantumScape presently has a consensus rating of "Hold" and an average target price of $5.19.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its position in QuantumScape by 22.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,881 shares of the company's stock worth $245,000 after buying an additional 6,413 shares in the last quarter. Parallel Advisors LLC lifted its position in QuantumScape by 91.4% during the 2nd quarter. Parallel Advisors LLC now owns 11,083 shares of the company's stock worth $74,000 after buying an additional 5,292 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in QuantumScape by 456.5% during 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 worth $19,799,000 after buying an additional 3,904,168 shares in the last quarter. NewEdge Advisors LLC raised its holdings in QuantumScape by 50.4% during the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company's stock worth $88,000 after purchasing an additional 7,111 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in QuantumScape by 21.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 961,052 shares of the company's stock worth $3,998,000 after purchasing an additional 170,173 shares during the last quarter. Institutional investors and hedge funds own 29.87% 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.