Geode Capital Management LLC Has $86.79 Million Position in QuantumScape Corporation $QS

Geode Capital Management LLC boosted its holdings in shares of QuantumScape Corporation (NYSE:QS) by 16.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,327,604 shares of the company’s stock after acquiring an additional 1,189,748 shares during the period. Geode Capital Management LLC owned 1.38% of QuantumScape worth $86,794,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in QuantumScape during the 3rd quarter worth $33,962,000. 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 during the period. Exchange Traded Concepts LLC acquired a new stake in QuantumScape during the 4th quarter worth $4,475,000. State of New Jersey Common Pension Fund D acquired a new stake in QuantumScape during the 3rd quarter worth $3,330,000. Finally, Cookson Peirce & Co. Inc. acquired a new stake in QuantumScape during the 3rd quarter worth $2,222,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Stock Performance

Shares of NYSE QS opened at $7.67 on Monday. The company’s fifty day moving average is $7.46 and its 200-day moving average is $8.87. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of -9.47 and a beta of 2.60. QuantumScape Corporation has a twelve month low of $4.01 and a twelve month high of $19.07. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. During the same quarter in the prior year, the firm earned ($0.21) EPS. Equities research analysts predict that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Activity at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 50,000 shares of QuantumScape stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $7.87, for a total value of $393,500.00. Following the sale, the insider directly owned 1,803,035 shares in the company, valued at approximately $14,189,885.45. The trade was a 2.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Timothy Holme sold 150,320 shares of QuantumScape stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $9.30, for a total transaction of $1,397,976.00. Following the completion of the sale, the chief technology officer owned 1,712,506 shares in the company, valued at $15,926,305.80. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 778,932 shares of company stock valued at $6,043,845. 3.93% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Robert W. Baird set a $12.00 target price on shares of QuantumScape in a report on Thursday, February 12th. Morgan Stanley reduced their price target on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. TD Cowen reissued a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. Finally, HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and reduced their price target for the stock from $10.50 to $8.30 in a research report on Wednesday, February 18th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $11.13.

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.