Atria Wealth Solutions Inc. Has $657,000 Stake in QuantumScape Corporation $QS

Atria Wealth Solutions Inc. lifted its stake in shares of QuantumScape Corporation (NYSE:QS) by 131.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 93,581 shares of the company’s stock after buying an additional 53,200 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in QuantumScape were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of QuantumScape by 456.5% during 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 worth $19,799,000 after buying an additional 3,904,168 shares during the period. Vanguard Group Inc. lifted its holdings in shares of QuantumScape by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock worth $147,064,000 after purchasing an additional 2,911,362 shares in the last quarter. Nuveen LLC bought a new position in shares of QuantumScape in the 1st quarter worth $2,819,000. Jump Financial LLC bought a new position in shares of QuantumScape in the 1st quarter worth $2,134,000. Finally, Quantbot Technologies LP lifted its holdings in shares of QuantumScape by 252.6% in the 1st quarter. Quantbot Technologies LP now owns 700,898 shares of the company’s stock worth $2,916,000 after purchasing an additional 502,143 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on QS shares. TD Cowen upgraded QuantumScape to a “hold” rating in a report on Monday, July 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Finally, Robert W. Baird increased their target price on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, QuantumScape currently has a consensus rating of “Reduce” and an average target price of $5.88.

Insider Buying and Selling

In other QuantumScape news, insider Michael O. Mccarthy III sold 500,000 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $11.60, for a total transaction of $5,800,000.00. Following the transaction, the insider directly owned 1,467,183 shares in the company, valued at approximately $17,019,322.80. This trade represents a 25.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey B. Straubel sold 157,180 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $9.20, for a total value of $1,446,056.00. Following the transaction, the director owned 348,146 shares in the company, valued at approximately $3,202,943.20. This trade represents a 31.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,327,870 shares of company stock valued at $26,819,135 in the last 90 days. Insiders own 5.48% of the company’s stock.

QuantumScape Price Performance

Shares of NYSE:QS opened at $15.34 on Friday. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $11.20 and its two-hundred day simple moving average is $7.75. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $19.07. The stock has a market cap of $8.68 billion, a PE ratio of -17.83 and a beta of 4.85.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). The company had revenue of $36.67 million for the quarter. During the same quarter in the previous year, the business posted ($0.25) EPS. As a group, analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

About QuantumScape

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.