Commonwealth Equity Services LLC Grows Stock Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

Commonwealth Equity Services LLC lifted its position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 1,097.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 228,047 shares of the company's stock after purchasing an additional 209,000 shares during the period. Commonwealth Equity Services LLC owned about 0.08% of D-Wave Quantum worth $1,916,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in QBTS. State Street Corp increased its holdings in D-Wave Quantum by 0.9% in the third quarter. State Street Corp now owns 2,020,977 shares of the company's stock valued at $1,986,000 after purchasing an additional 17,225 shares during the period. Barclays PLC increased its stake in shares of D-Wave Quantum by 298.3% in the third quarter. Barclays PLC now owns 120,029 shares of the company's stock valued at $117,000 after buying an additional 89,894 shares during the period. Geode Capital Management LLC increased its stake in shares of D-Wave Quantum by 33.8% in the third quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company's stock valued at $2,513,000 after buying an additional 645,039 shares during the period. Silverleafe Capital Partners LLC bought a new position in shares of D-Wave Quantum during the fourth quarter worth about $820,000. Finally, Sovereign Financial Group Inc. acquired a new position in shares of D-Wave Quantum in the fourth quarter worth approximately $179,000. Institutional investors and hedge funds own 42.47% of the company's stock.

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Insider Transactions at D-Wave Quantum

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 7,278,688 shares of D-Wave Quantum stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $4.07, for a total transaction of $29,624,260.16. Following the completion of the transaction, the insider now owns 30,000,000 shares in the company, valued at approximately $122,100,000. The trade was a 19.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $44,120.44. Following the transaction, the chief executive officer now directly owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,071,206 shares of company stock valued at $46,758,181 over the last ninety days. 7.22% of the stock is owned by company insiders.

D-Wave Quantum Stock Down 2.3 %

QBTS traded down $0.18 during midday trading on Tuesday, hitting $7.43. The company had a trading volume of 48,252,283 shares, compared to its average volume of 32,198,955. The stock's 50 day moving average price is $6.69 and its 200 day moving average price is $4.57. D-Wave Quantum Inc. has a 52 week low of $0.75 and a 52 week high of $11.95. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -17.68 and a beta of 1.12.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.28). The company had revenue of $2.31 million during the quarter, compared to analyst estimates of $2.23 million. Research analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $8.50 price target on shares of D-Wave Quantum in a report on Friday, March 14th. B. Riley lifted their target price on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Roth Mkm upped their price target on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Benchmark reissued a "buy" rating and issued a $8.00 price objective on shares of D-Wave Quantum in a research report on Friday, March 14th. Finally, Craig Hallum boosted their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $8.42.

D-Wave Quantum Profile

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.