Kestra Private Wealth Services LLC Sells 1,900 Shares of QuantumScape Co. (NYSE:QS)

Kestra Private Wealth Services LLC lessened its holdings in QuantumScape Co. (NYSE:QSFree Report) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,749 shares of the company’s stock after selling 1,900 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in QuantumScape were worth $212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in QuantumScape by 11.9% in the third quarter. Vanguard Group Inc. now owns 20,555,744 shares of the company’s stock valued at $172,874,000 after buying an additional 2,178,359 shares during the last quarter. BlackRock Inc. raised its stake in shares of QuantumScape by 9.7% in the second quarter. BlackRock Inc. now owns 13,035,638 shares of the company’s stock worth $104,155,000 after purchasing an additional 1,148,137 shares during the last quarter. State Street Corp raised its stake in shares of QuantumScape by 4.9% in the second quarter. State Street Corp now owns 4,233,576 shares of the company’s stock worth $33,826,000 after purchasing an additional 198,244 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of QuantumScape by 9.2% in the second quarter. Geode Capital Management LLC now owns 4,115,749 shares of the company’s stock worth $32,885,000 after purchasing an additional 348,329 shares during the last quarter. 27.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 16,199 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $6.19, for a total value of $100,271.81. Following the sale, the insider now directly owns 793,702 shares of the company’s stock, valued at $4,913,015.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Kevin Hettrich sold 45,981 shares of QuantumScape stock in a transaction on Monday, November 20th. The stock was sold at an average price of $6.08, for a total value of $279,564.48. Following the completion of the sale, the chief financial officer now directly owns 573,436 shares of the company’s stock, valued at $3,486,490.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael O. Mccarthy III sold 16,199 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $6.19, for a total value of $100,271.81. Following the transaction, the insider now directly owns 793,702 shares of the company’s stock, valued at $4,913,015.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 667,478 shares of company stock valued at $4,932,098. Company insiders own 10.18% of the company’s stock.

QuantumScape Stock Up 0.4 %

QuantumScape stock opened at $7.53 on Friday. The company has a quick ratio of 24.57, a current ratio of 24.57 and a debt-to-equity ratio of 0.03. QuantumScape Co. has a 52 week low of $4.99 and a 52 week high of $13.86. The business’s 50-day moving average price is $7.23 and its 200 day moving average price is $6.96. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of -7.68 and a beta of 4.94.

Wall Street Analysts Forecast Growth

QS has been the subject of several research analyst reports. Truist Financial raised their price objective on QuantumScape from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Thursday, November 30th. HSBC initiated coverage on QuantumScape in a research note on Monday, December 4th. They issued a “reduce” rating and a $4.70 price objective for the company. Finally, William Blair initiated coverage on QuantumScape in a report on Monday, December 18th. They set a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.39.

Read Our Latest Research Report on QuantumScape

About QuantumScape

(Free Report)

QuantumScape Corporation, a development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. QuantumScape Corporation was founded in 2010 and is headquartered in San Jose, California.

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Institutional Ownership by Quarter for QuantumScape (NYSE:QS)

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