QuantumScape Co. (NYSE:QS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of QuantumScape Co. (NYSE:QSFree Report) by 11.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 22,577 shares of the company’s stock after selling 3,053 shares during the period. Principal Financial Group Inc.’s holdings in QuantumScape were worth $130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in shares of QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after buying an additional 133,000 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in QuantumScape in the second quarter valued at $1,950,000. Sanctuary Advisors LLC purchased a new position in shares of QuantumScape during the second quarter worth about $680,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of QuantumScape during the second quarter worth about $644,000. Finally, American Century Companies Inc. lifted its holdings in shares of QuantumScape by 880.6% in the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after purchasing an additional 316,361 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

Insider Transactions at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the sale, the director now owns 241,195 shares of the company’s stock, valued at approximately $1,215,622.80. This represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jagdeep Singh sold 192,270 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $5.99, for a total value of $1,151,697.30. Following the completion of the transaction, the director now owns 2,590,583 shares of the company’s stock, valued at approximately $15,517,592.17. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 702,057 shares of company stock valued at $3,982,909 in the last ninety days. 12.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

QS has been the topic of several research analyst reports. Wolfe Research started coverage on QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research note on Tuesday, November 19th. Truist Financial reiterated a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.26.

View Our Latest Stock Report on QuantumScape

QuantumScape Price Performance

Shares of QS opened at $5.35 on Tuesday. The firm has a market capitalization of $2.74 billion, a PE ratio of -5.63 and a beta of 4.60. The stock’s 50 day moving average is $5.40 and its two-hundred day moving average is $5.74. QuantumScape Co. has a twelve month low of $4.65 and a twelve month high of $10.03. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QSGet Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the business earned ($0.23) earnings per share. Research analysts anticipate that QuantumScape Co. will post -0.99 earnings per share for the current year.

About QuantumScape

(Free Report)

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.

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Institutional Ownership by Quarter for QuantumScape (NYSE:QS)

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