US Bancorp DE Decreases Stake in QuantumScape Corporation $QS

US Bancorp DE lessened its holdings in shares of QuantumScape Corporation (NYSE:QS) by 35.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,922 shares of the company’s stock after selling 4,409 shares during the quarter. US Bancorp DE’s holdings in QuantumScape were worth $33,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of QS. Signaturefd LLC grew its stake in QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock worth $25,000 after buying an additional 5,841 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of QuantumScape during the 4th quarter valued at $26,000. Federated Hermes Inc. boosted its position in QuantumScape by 660.0% during the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock worth $26,000 after purchasing an additional 5,438 shares during the period. Hollencrest Capital Management increased its holdings in QuantumScape by 333.3% in the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock valued at $27,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in QuantumScape in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Insider Activity at QuantumScape

In related news, insider Michael O. Mccarthy III sold 500,000 shares of QuantumScape stock in a transaction on Friday, July 25th. The shares were sold at an average price of $11.60, for a total value of $5,800,000.00. Following the completion of the sale, the insider owned 1,467,183 shares in the company, valued at approximately $17,019,322.80. The trade was a 25.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fritz Prinz sold 929,813 shares of the company’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $11.62, for a total transaction of $10,804,427.06. Following the completion of the sale, the director directly owned 161,343 shares in the company, valued at $1,874,805.66. This represents a 85.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,956,517 shares of company stock worth $34,977,013 over the last three months. 5.48% of the stock is owned by corporate insiders.

QuantumScape Stock Up 0.1%

Shares of NYSE QS opened at $7.9150 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year high of $15.03. The stock’s 50-day simple moving average is $8.37 and its 200-day simple moving average is $5.71. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of -9.20 and a beta of 4.43.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS 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 in the prior year, the company earned ($0.25) earnings per share. As a group, equities analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

QS has been the subject of several analyst reports. Robert W. Baird upped their target price on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. The Goldman Sachs Group reduced their price target on 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, July 7th. Seven research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, QuantumScape has a consensus rating of “Reduce” and a consensus price target of $5.90.

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.