Beacon Pointe Advisors LLC decreased its position in shares of QuantumScape Co. (NYSE:QS – Get Rating) by 26.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,372 shares of the company's stock after selling 7,406 shares during the quarter. Beacon Pointe Advisors LLC's holdings in QuantumScape were worth $177,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of QS. Steward Partners Investment Advisory LLC raised its stake in QuantumScape by 31.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 7,318 shares of the company's stock worth $146,000 after buying an additional 1,730 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of QuantumScape by 40.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 21,360 shares of the company's stock valued at $427,000 after purchasing an additional 6,175 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of QuantumScape by 10.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 309,124 shares of the company's stock valued at $6,179,000 after purchasing an additional 30,008 shares during the period. Stephens Inc. AR bought a new stake in QuantumScape during the 1st quarter worth approximately $412,000. Finally, New York State Common Retirement Fund lifted its stake in QuantumScape by 15.5% in the first quarter. New York State Common Retirement Fund now owns 277,200 shares of the company's stock valued at $5,541,000 after buying an additional 37,300 shares in the last quarter. Institutional investors and hedge funds own 25.44% of the company's stock.
Get QuantumScape alerts:QuantumScape Price Performance
NYSE:QS opened at $6.76 on Wednesday. QuantumScape Co. has a 52-week low of $6.61 and a 52-week high of $31.59. The company has a market cap of $2.95 billion, a P/E ratio of -7.86 and a beta of 5.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 25.68 and a current ratio of 25.68. The stock's 50-day simple moving average is $8.08 and its 200 day simple moving average is $9.87.
Analysts Set New Price Targets
A number of brokerages recently commented on QS. Truist Financial began coverage on shares of QuantumScape in a report on Wednesday, September 28th. They set a "hold" rating and a $10.00 price objective on the stock. The Goldman Sachs Group cut their price target on QuantumScape from $9.00 to $8.00 and set a "neutral" rating on the stock in a report on Tuesday, November 1st. Finally, Morgan Stanley downgraded QuantumScape from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $12.00 to $4.00 in a report on Wednesday, November 9th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat, QuantumScape presently has a consensus rating of "Hold" and a consensus price target of $14.29.Insider Buying and Selling at QuantumScape
In other news, insider Mohit Singh sold 8,500 shares of the company's stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $7.63, for a total transaction of $64,855.00. Following the sale, the insider now owns 302,157 shares in the company, valued at approximately $2,305,457.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Michael O. Mccarthy III sold 36,757 shares of QuantumScape stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $12.62, for a total transaction of $463,873.34. Following the completion of the transaction, the insider now owns 446,036 shares in the company, valued at $5,628,974.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mohit Singh sold 8,500 shares of the company's stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $7.63, for a total value of $64,855.00. Following the completion of the sale, the insider now owns 302,157 shares in the company, valued at approximately $2,305,457.91. The disclosure for this sale can be found here. Insiders sold a total of 198,979 shares of company stock worth $2,129,726 over the last ninety days. 13.73% of the stock is currently owned by corporate insiders.
About QuantumScape
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QuantumScape Corporation, a 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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