Coatue Management LLC Raises Stock Position in QuantumScape Co. (NYSE:QS)

Coatue Management LLC raised its stake in shares of QuantumScape Co. (NYSE:QS) by 41.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,015,391 shares of the company’s stock after purchasing an additional 295,713 shares during the quarter. Coatue Management LLC owned approximately 0.25% of QuantumScape worth $29,710,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of QS. BlackRock Inc. purchased a new position in QuantumScape during the 1st quarter valued at $113,554,000. Rockefeller Capital Management L.P. boosted its holdings in shares of QuantumScape by 81.7% during the 1st quarter. Rockefeller Capital Management L.P. now owns 7,778 shares of the company’s stock valued at $348,000 after buying an additional 3,497 shares in the last quarter. UBS Group AG boosted its holdings in shares of QuantumScape by 604.9% during the 1st quarter. UBS Group AG now owns 273,471 shares of the company’s stock valued at $12,238,000 after buying an additional 234,677 shares in the last quarter. Quilter Plc boosted its holdings in shares of QuantumScape by 199.3% during the 1st quarter. Quilter Plc now owns 9,704 shares of the company’s stock valued at $434,000 after buying an additional 6,462 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of QuantumScape by 652.3% during the 1st quarter. JPMorgan Chase & Co. now owns 114,344 shares of the company’s stock valued at $5,117,000 after buying an additional 99,144 shares in the last quarter. 15.67% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape stock traded down $0.16 during mid-day trading on Thursday, reaching $24.14. The stock had a trading volume of 52,344 shares, compared to its average volume of 13,228,036. The company has a debt-to-equity ratio of 0.03, a current ratio of 62.45 and a quick ratio of 62.45. The company has a market capitalization of $9.80 billion and a price-to-earnings ratio of -63.13. The company has a 50-day moving average price of $22.49 and a two-hundred day moving average price of $27.73. QuantumScape Co. has a one year low of $11.25 and a one year high of $132.73.

QuantumScape (NYSE:QS) last posted its earnings results on Monday, July 26th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.05). On average, equities research analysts anticipate that QuantumScape Co. will post -0.21 earnings per share for the current fiscal year.

In other QuantumScape news, Director Fritz Prinz sold 200,000 shares of the stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $22.61, for a total transaction of $4,522,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justin E. Mirro sold 186,437 shares of the stock in a transaction that occurred on Thursday, September 30th. The shares were sold at an average price of $23.40, for a total transaction of $4,362,625.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,619,507 shares of company stock worth $36,254,532 in the last 90 days.

A number of brokerages have recently commented on QS. JPMorgan Chase & Co. began coverage on shares of QuantumScape in a report on Tuesday, July 20th. They set a “neutral” rating and a $35.00 target price on the stock. Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, June 17th. They set a “peer perform” rating and a $25.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, QuantumScape has a consensus rating of “Hold” and a consensus price target of $44.14.

QuantumScape Profile

QuantumScape Corporation, a development stage company, engages in 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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