Insider Selling: QuantumScape (NYSE:QS) CTO Sells 166,440 Shares of Stock

QuantumScape Corporation (NYSE:QS) CTO Timothy Holme sold 166,440 shares of QuantumScape stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $11.28, for a total transaction of $1,877,443.20. Following the completion of the transaction, the chief technology officer owned 1,251,383 shares of the company’s stock, valued at $14,115,600.24. This represents a 11.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Timothy Holme also recently made the following trade(s):

• On Monday, January 5th, Timothy Holme sold 44,922 shares of QuantumScape stock. The stock was sold at an average price of $11.28, for a total transaction of $506,720.16.
• On Thursday, December 4th, Timothy Holme sold 44,922 shares of QuantumScape stock. The shares were sold at an average price of $12.69, for a total value of $570,060.18.
• On Thursday, December 4th, Timothy Holme sold 166,440 shares of QuantumScape stock. The stock was sold at an average price of $12.69, for a total transaction of $2,112,123.60.
• On Wednesday, November 19th, Timothy Holme sold 44,923 shares of QuantumScape stock. The stock was sold at an average price of $12.51, for a total transaction of $561,986.73.
• On Wednesday, November 19th, Timothy Holme sold 201,785 shares of QuantumScape stock. The stock was sold at an average price of $12.51, for a total transaction of $2,524,330.35.

QuantumScape Stock Performance

QuantumScape stock traded down $0.40 during mid-day trading on Wednesday, reaching $10.91. 10,854,540 shares of the company were exchanged, compared to its average volume of 13,735,995. The firm’s 50-day simple moving average is $12.76 and its two-hundred day simple moving average is $11.44. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $19.07. The firm has a market cap of $6.56 billion, a PE ratio of -13.47 and a beta of 2.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). During the same period last year, the business posted ($0.23) earnings per share. Equities analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QuantumScape

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of QuantumScape by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 36,635,232 shares of the company’s stock worth $451,346,000 after purchasing an additional 422,378 shares during the period. Geode Capital Management LLC raised its holdings in QuantumScape by 12.5% in the second quarter. Geode Capital Management LLC now owns 6,914,680 shares of the company’s stock valued at $46,475,000 after buying an additional 768,070 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in QuantumScape by 456.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock valued at $19,799,000 after buying an additional 3,904,168 shares in the last quarter. Two Sigma Investments LP lifted its position in QuantumScape by 150.1% during the third quarter. Two Sigma Investments LP now owns 3,630,275 shares of the company’s stock valued at $44,725,000 after buying an additional 2,178,918 shares in the last quarter. Finally, Man Group plc purchased a new stake in QuantumScape during the third quarter worth approximately $44,421,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on QS. Evercore ISI reaffirmed an “in-line” rating and issued a $12.00 target price (up previously from $8.00) on shares of QuantumScape in a report on Monday, November 24th. Cowen reaffirmed a “hold” rating on shares of QuantumScape in a report on Thursday, October 30th. HSBC cut shares of QuantumScape from a “hold” rating to a “reduce” rating and raised their price objective for the company from $5.30 to $10.50 in a research note on Wednesday, November 19th. Morgan Stanley initiated coverage on shares of QuantumScape in a research report on Monday, December 8th. They set an “equal weight” rating and a $12.00 price target for the company. Finally, TD Cowen boosted their price target on QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday, October 30th. Seven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $9.17.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.