Insider Selling: QuantumScape (NYSE:QS) Director Sells 684,524 Shares of Stock

QuantumScape Corporation (NYSE:QS) Director Dipender Saluja sold 684,524 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $11.94, for a total transaction of $8,173,216.56. Following the completion of the sale, the director owned 12,506,055 shares in the company, valued at approximately $149,322,296.70. This trade represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Dipender Saluja also recently made the following trade(s):

• On Monday, December 15th, Dipender Saluja sold 2,613,121 shares of QuantumScape stock. The stock was sold at an average price of $11.01, for a total transaction of $28,770,462.21.

QuantumScape Trading Up 0.4%

Shares of QuantumScape stock traded up $0.05 on Tuesday, reaching $10.88. The company had a trading volume of 17,040,398 shares, compared to its average volume of 28,443,484. The firm’s 50 day moving average price is $14.27 and its two-hundred day moving average price is $10.68. 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 Corporation has a 52-week low of $3.40 and a 52-week high of $19.07. The firm has a market cap of $6.54 billion, a PE ratio of -13.43 and a beta of 2.76.

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

Analyst Ratings Changes

QS has been the subject of a number of research reports. TD Cowen lifted their price objective on QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. Evercore ISI reiterated an “in-line” rating and set a $12.00 price target (up from $8.00) on shares of QuantumScape in a research note on Monday, November 24th. Morgan Stanley began coverage on shares of QuantumScape in a research note on Monday, December 8th. They issued an “equal weight” rating and a $12.00 price objective for the company. HSBC cut shares of QuantumScape from a “hold” rating to a “reduce” rating and lifted their price objective for the company from $5.30 to $10.50 in a report on Wednesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 target price on shares of QuantumScape and gave the stock a “hold” rating in a report on Thursday, October 23rd. Seven analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $9.17.

Institutional Trading of QuantumScape

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in QuantumScape by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 36,635,232 shares of the company’s stock worth $451,346,000 after acquiring an additional 422,378 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of QuantumScape by 12.5% in the 2nd quarter. Geode Capital Management LLC now owns 6,914,680 shares of the company’s stock valued at $46,475,000 after purchasing an additional 768,070 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% during the 1st 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 purchasing an additional 3,904,168 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of QuantumScape by 150.1% during the third quarter. Two Sigma Investments LP now owns 3,630,275 shares of the company’s stock worth $44,725,000 after purchasing an additional 2,178,918 shares in the last quarter. Finally, Man Group plc purchased a new position in QuantumScape in the third quarter valued at $44,421,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Company Profile

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.