Atria Wealth Solutions Inc. Acquires 9,290 Shares of QuantumScape Co. (NYSE:QS)

Atria Wealth Solutions Inc. grew its holdings in QuantumScape Co. (NYSE:QS) by 23.6% in the fourth quarter, Holdings Channel reports. The firm owned 48,594 shares of the company’s stock after buying an additional 9,290 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in QuantumScape were worth $338,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of QS. Vanguard Group Inc. boosted its position in shares of QuantumScape by 23.3% during the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock valued at $194,221,000 after buying an additional 5,483,319 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of QuantumScape by 53.6% during the 3rd quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company’s stock valued at $17,268,000 after acquiring an additional 900,249 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of QuantumScape by 5.1% in the third quarter. Bank of New York Mellon Corp now owns 927,473 shares of the company’s stock worth $6,205,000 after acquiring an additional 44,616 shares during the period. Swiss National Bank lifted its position in QuantumScape by 17.6% during the third quarter. Swiss National Bank now owns 692,500 shares of the company’s stock valued at $4,633,000 after purchasing an additional 103,800 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in QuantumScape by 23.5% in the third quarter. California Public Employees Retirement System now owns 446,427 shares of the company’s stock worth $2,987,000 after purchasing an additional 84,982 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Insider Activity

In other news, insider Michael O. Mccarthy III sold 21,840 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now directly owns 731,629 shares in the company, valued at $4,514,150.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Michael O. Mccarthy III sold 21,840 shares of QuantumScape stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $6.17, for a total transaction of $134,752.80. Following the sale, the insider now owns 731,629 shares in the company, valued at $4,514,150.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total transaction of $226,329.78. Following the transaction, the chief financial officer now owns 554,553 shares of the company’s stock, valued at approximately $3,626,776.62. The disclosure for this sale can be found here. Insiders have sold 125,661 shares of company stock worth $785,018 in the last three months. Company insiders own 10.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Truist Financial decreased their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Robert W. Baird increased their target price on QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Finally, UBS Group cut their price target on QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.09.

QuantumScape Stock Performance

Shares of QS opened at $5.58 on Wednesday. QuantumScape Co. has a 52 week low of $4.92 and a 52 week high of $13.86. The company has a quick ratio of 10.38, a current ratio of 10.38 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -5.81 and a beta of 4.74. The business has a 50-day simple moving average of $5.83 and a two-hundred day simple moving average of $6.39.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period in the prior year, the company posted ($0.25) EPS. On average, analysts expect that QuantumScape Co. will post -0.9 EPS for the current year.

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.