Vanguard Personalized Indexing Management LLC Trims Stake in QuantumScape Corporation $QS

Vanguard Personalized Indexing Management LLC cut its holdings in QuantumScape Corporation (NYSE:QS) by 34.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,464 shares of the company’s stock after selling 10,070 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in QuantumScape were worth $131,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of QS. M&T Bank Corp increased its stake in shares of QuantumScape by 97.2% in the 1st quarter. M&T Bank Corp now owns 39,964 shares of the company’s stock worth $166,000 after purchasing an additional 19,694 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in QuantumScape by 362.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company’s stock valued at $1,577,000 after purchasing an additional 297,097 shares during the period. Perbak Capital Partners LLP purchased a new stake in QuantumScape in the first quarter worth about $353,000. Nuveen LLC purchased a new stake in QuantumScape in the first quarter worth about $2,819,000. Finally, CacheTech Inc. bought a new position in shares of QuantumScape in the first quarter worth about $130,000. Institutional investors own 29.87% of the company’s stock.

QuantumScape Trading Up 14.5%

Shares of QS opened at $16.78 on Monday. The firm has a market cap of $9.50 billion, a P/E ratio of -20.72 and a beta of 4.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year high of $19.07. The company has a 50 day simple moving average of $11.82 and a two-hundred day simple moving average of $8.18.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, hitting the consensus estimate of ($0.18). The company had revenue of ($36.67) million during the quarter. During the same quarter in the previous year, the business earned ($0.23) earnings per share. On average, equities analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In other news, Director Jeffrey B. Straubel sold 157,171 shares of QuantumScape stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $13.94, for a total value of $2,190,963.74. Following the sale, the director directly owned 321,040 shares of the company’s stock, valued at approximately $4,475,297.60. The trade was a 32.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Timothy Holme sold 44,923 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $15.52, for a total value of $697,204.96. The disclosure for this sale can be found here. Insiders have sold 827,870 shares of company stock worth $9,399,135 in the last quarter. 5.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on QS shares. Deutsche Bank Aktiengesellschaft set a $10.00 price objective on QuantumScape and gave the company a “hold” rating in a research note on Thursday. TD Cowen upgraded shares of QuantumScape to a “hold” rating in a research report on Monday, July 7th. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a research report on Saturday. Finally, Robert W. Baird lifted their target price on shares of QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Seven investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $6.47.

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.