Insider Selling: QuantumScape (NYSE:QS) Director Sells $28,770,462.21 in Stock

QuantumScape Corporation (NYSE:QS) Director Dipender Saluja sold 2,613,121 shares of QuantumScape stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $11.01, for a total transaction of $28,770,462.21. Following the sale, the director directly owned 9,892,934 shares in the company, valued at $108,921,203.34. This trade represents a 20.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, December 12th, Dipender Saluja sold 684,524 shares of QuantumScape stock. The shares were sold at an average price of $11.94, for a total transaction of $8,173,216.56.

QuantumScape Stock Performance

Shares of QuantumScape stock opened at $11.01 on Friday. The company’s 50 day moving average price is $14.01 and its two-hundred day moving average price is $10.73. The firm has a market capitalization of $6.62 billion, a P/E ratio of -13.59 and a beta of 2.76. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $19.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). During the same period in the prior year, the firm earned ($0.23) earnings per share. On average, equities analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on QS. HSBC lowered QuantumScape from a “hold” rating to a “reduce” rating and lifted their price target for the company from $5.30 to $10.50 in a research note on Wednesday, November 19th. Cowen reiterated a “hold” rating on shares of QuantumScape in a research report on Thursday, October 30th. Evercore ISI reissued an “in-line” rating and set a $12.00 target price (up from $8.00) on shares of QuantumScape in a report on Monday, November 24th. TD Cowen upped their price target on shares of QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a research report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 price target 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 company. Based on data from MarketBeat.com, QuantumScape currently has an average rating of “Reduce” and a consensus price target of $9.17.

Institutional Investors Weigh In On QuantumScape

Large investors have recently modified their holdings of the company. Perbak Capital Partners LLP bought a new stake in shares of QuantumScape in the first quarter valued at approximately $353,000. Nuveen LLC bought a new stake in QuantumScape during the 1st quarter valued at $2,819,000. Thames Capital Management LLC purchased a new stake in shares of QuantumScape during the second quarter worth $2,792,000. 111 Capital bought a new position in shares of QuantumScape in the second quarter worth $131,000. Finally, Atria Wealth Solutions Inc. raised its stake in shares of QuantumScape by 131.7% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 93,581 shares of the company’s stock valued at $657,000 after purchasing an additional 53,200 shares during the period. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.