State of New Jersey Common Pension Fund D Has $1.73 Million Holdings in QuantumScape Corporation $QS

State of New Jersey Common Pension Fund D lowered its position in QuantumScape Corporation (NYSE:QS) by 38.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 166,296 shares of the company’s stock after selling 103,979 shares during the period. State of New Jersey Common Pension Fund D’s holdings in QuantumScape were worth $1,733,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of QuantumScape by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 40,959,061 shares of the company’s stock worth $426,793,000 after acquiring an additional 4,323,829 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of QuantumScape by 456.5% in 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 valued at $19,799,000 after purchasing an additional 3,904,168 shares during the period. Two Sigma Investments LP boosted its position in shares of QuantumScape by 150.1% during the 3rd quarter. Two Sigma Investments LP now owns 3,630,275 shares of the company’s stock valued at $44,725,000 after purchasing an additional 2,178,918 shares in the last quarter. Man Group plc bought a new stake in shares of QuantumScape during the 3rd quarter valued at about $44,421,000. Finally, Bank of America Corp DE grew its stake in QuantumScape by 148.0% during the second quarter. Bank of America Corp DE now owns 2,803,989 shares of the company’s stock worth $18,843,000 after purchasing an additional 1,673,472 shares during the period. 29.87% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Price Performance

Shares of NYSE:QS opened at $7.54 on Monday. 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 $3.80 and a 52-week high of $19.07. The business’s 50 day simple moving average is $6.82 and its two-hundred day simple moving average is $9.93. The firm has a market cap of $4.64 billion, a P/E ratio of -9.31 and a beta of 2.57.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. During the same period in the prior year, the company posted ($0.21) EPS. As a group, research analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QS. TD Cowen reissued a “hold” rating on shares of QuantumScape in a research note on Wednesday, February 18th. Robert W. Baird set a $12.00 price objective on shares of QuantumScape in a research report on Thursday, February 12th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and lowered their price objective for the company from $10.50 to $8.30 in a research note on Wednesday, February 18th. Finally, Morgan Stanley cut their target price on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, QuantumScape has an average rating of “Reduce” and a consensus target price of $11.13.

Insider Activity

In other news, insider Michael O. Mccarthy III sold 45,000 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $6.73, for a total transaction of $302,850.00. Following the completion of the sale, the insider directly owned 954,219 shares of the company’s stock, valued at $6,421,893.87. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Timothy Holme sold 127,077 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $7.10, for a total transaction of $902,246.70. Following the completion of the sale, the chief technology officer owned 1,122,348 shares in the company, valued at $7,968,670.80. This represents a 10.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 716,925 shares of company stock worth $4,877,077 over the last three months. 5.48% of the stock is currently owned by insiders.

QuantumScape Profile

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.