Eurizon Capital SGR S.p.A. acquired a new stake in QuantumScape Corporation (NYSE:QS – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 74,789 shares of the company’s stock, valued at approximately $775,000.
Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of QuantumScape by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 40,959,061 shares of the company’s stock worth $426,793,000 after buying an additional 4,323,829 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of QuantumScape by 16.7% in the fourth quarter. Geode Capital Management LLC now owns 8,327,604 shares of the company’s stock worth $86,794,000 after buying an additional 1,189,748 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of QuantumScape by 456.5% in 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 worth $19,799,000 after buying an additional 3,904,168 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of QuantumScape by 150.1% in the third quarter. Two Sigma Investments LP now owns 3,630,275 shares of the company’s stock worth $44,725,000 after buying an additional 2,178,918 shares in the last quarter. Finally, Man Group plc purchased a new stake in shares of QuantumScape in the third quarter worth about $44,421,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other QuantumScape news, CTO Timothy Holme sold 92,972 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $8.23, for a total transaction of $765,159.56. Following the sale, the chief technology officer directly owned 1,712,506 shares in the company, valued at $14,093,924.38. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin Hettrich sold 9,800 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $8.06, for a total value of $78,988.00. Following the sale, the chief financial officer owned 1,833,902 shares in the company, valued at approximately $14,781,250.12. This trade represents a 0.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 632,997 shares of company stock valued at $4,570,999. 5.48% of the stock is currently owned by company insiders.
QuantumScape Trading Down 4.8%
QuantumScape (NYSE:QS – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. During the same period in the previous year, the company earned ($0.21) EPS. Research analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.
Wall Street Analyst Weigh In
QS has been the topic of a number of research analyst reports. Robert W. Baird set a $12.00 target price on QuantumScape in a research report on Thursday, February 12th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and decreased their target price for the stock from $10.50 to $8.30 in a research report on Wednesday, February 18th. TD Cowen reiterated a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. Finally, Morgan Stanley decreased their target price on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $11.13.
View Our Latest Research Report on QuantumScape
About QuantumScape
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.
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