Commonwealth Equity Services LLC Boosts Holdings in QuantumScape Co. (NYSE:QS)

Commonwealth Equity Services LLC grew its position in QuantumScape Co. (NYSE:QS – Get Rating) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 316,628 shares of the company’s stock after buying an additional 10,592 shares during the period. Commonwealth Equity Services LLC’s holdings in QuantumScape were worth $2,662,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in QS. Cubist Systematic Strategies LLC lifted its holdings in shares of QuantumScape by 1.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 194,197 shares of the company’s stock worth $1,633,000 after acquiring an additional 2,981 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of QuantumScape by 5.9% in the 3rd quarter. Hsbc Holdings PLC now owns 272,312 shares of the company’s stock worth $2,327,000 after acquiring an additional 15,280 shares during the last quarter. Credit Suisse AG lifted its holdings in QuantumScape by 11.5% during the 3rd quarter. Credit Suisse AG now owns 370,323 shares of the company’s stock worth $3,115,000 after buying an additional 38,099 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of QuantumScape by 8.2% in the third quarter. Dimensional Fund Advisors LP now owns 534,349 shares of the company’s stock valued at $4,493,000 after acquiring an additional 40,402 shares in the last quarter. Finally, Seven Eight Capital LP boosted its holdings in QuantumScape by 949.5% in the third quarter. Seven Eight Capital LP now owns 157,612 shares of the company’s stock valued at $1,326,000 after purchasing an additional 142,594 shares during the period. Hedge funds and other institutional investors own 26.09% of the company’s stock.

Insider Activity at QuantumScape

In related news, CEO Jagdeep Singh sold 355,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $7.78, for a total value of $2,761,900.00. Following the sale, the chief executive officer now owns 970,877 shares of the company’s stock, valued at approximately $7,553,423.06. The transaction was disclosed in a filing with the SEC, which is available through this link. In other QuantumScape news, CEO Jagdeep Singh sold 355,000 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $7.78, for a total value of $2,761,900.00. Following the completion of the transaction, the chief executive officer now directly owns 970,877 shares of the company’s stock, valued at approximately $7,553,423.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael O. Mccarthy III sold 186,333 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $9.03, for a total transaction of $1,682,586.99. Following the transaction, the insider now directly owns 725,340 shares in the company, valued at approximately $6,549,820.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,465,699 shares of company stock valued at $13,022,061. 13.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley decreased their target price on QuantumScape from $4.00 to $3.00 and set an “underweight” rating for the company in a report on Wednesday, January 25th. The Goldman Sachs Group cut QuantumScape from a “neutral” rating to a “sell” rating and cut their target price for the stock from $8.00 to $5.00 in a research report on Wednesday, December 14th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, QuantumScape has an average rating of “Hold” and an average price target of $10.20.

QuantumScape Price Performance

Shares of NYSE:QS opened at $7.35 on Friday. The business’s 50 day simple moving average is $8.29 and its 200-day simple moving average is $8.27. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -7.74 and a beta of 5.29. The company has a debt-to-equity ratio of 0.03, a current ratio of 22.91 and a quick ratio of 22.91. QuantumScape Co. has a 12 month low of $5.11 and a 12 month high of $22.21.

QuantumScape (NYSE:QS – Get Rating) last announced its quarterly earnings results on Wednesday, February 15th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.02. During the same period in the previous year, the business posted ($0.16) EPS. As a group, equities analysts forecast that QuantumScape Co. will post -0.9 earnings per share for the current fiscal year.

QuantumScape Company Profile

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QuantumScape Corporation, a 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.