D-Wave Quantum Inc. (NYSE:QBTS) Major Shareholder Sells $6,680,000.00 in Stock

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) major shareholder Sector Pension Investme Public sold 1,000,000 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $6.68, for a total transaction of $6,680,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Sector Pension Investme Public also recently made the following trade(s):

• On Thursday, December 12th, Sector Pension Investme Public sold 8,437,593 shares of D-Wave Quantum stock. The stock was sold at an average price of $4.21, for a total value of $35,522,266.53.
• On Tuesday, December 10th, Sector Pension Investme Public sold 643,866 shares of D-Wave Quantum stock. The shares were sold at an average price of $4.87, for a total transaction of $3,135,627.42.

D-Wave Quantum Trading Up 26.6 %

NYSE:QBTS traded up $1.71 on Monday, reaching $8.15. 102,405,469 shares of the stock traded hands, compared to its average volume of 11,630,614. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -19.40 and a beta of 1.79. D-Wave Quantum Inc. has a 12 month low of $0.68 and a 12 month high of $10.50. The company's fifty day simple moving average is $2.64 and its 200 day simple moving average is $1.59.

Hedge Funds Weigh In On D-Wave Quantum

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in D-Wave Quantum during the second quarter valued at approximately $251,000. Rhumbline Advisers bought a new stake in shares of D-Wave Quantum during the 2nd quarter valued at $93,000. Thoroughbred Financial Services LLC purchased a new stake in shares of D-Wave Quantum in the 2nd quarter worth $45,000. XTX Topco Ltd bought a new position in D-Wave Quantum in the 2nd quarter worth $163,000. Finally, Marshall Wace LLP purchased a new position in D-Wave Quantum during the second quarter valued at $265,000. 42.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on QBTS. B. Riley increased their price objective on shares of D-Wave Quantum from $3.75 to $4.50 and gave the stock a "buy" rating in a research report on Monday, November 25th. Needham & Company LLC reissued a "buy" rating and issued a $2.25 price objective on shares of D-Wave Quantum in a research note on Friday, November 15th. Benchmark lifted their target price on D-Wave Quantum from $3.00 to $8.00 and gave the company a "buy" rating in a research report on Friday. Craig Hallum raised 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. Finally, Roth Mkm upped their target price on shares of D-Wave Quantum from $3.00 to $7.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $5.63.

D-Wave Quantum Company 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.