D-Wave Quantum Inc. (NYSE:QBTS) Major Shareholder Sells $3,135,627.42 in Stock

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) major shareholder Sector Pension Investme Public sold 643,866 shares of the business's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $4.87, for a total transaction of $3,135,627.42. Following the completion of the sale, the insider now directly owns 18,730,193 shares of the company's stock, valued at $91,216,039.91. The trade was a 3.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases 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.

D-Wave Quantum Price Performance

NYSE:QBTS traded down $0.21 during midday trading on Thursday, reaching $3.91. 58,864,227 shares of the company traded hands, compared to its average volume of 7,874,894. The firm has a market capitalization of $875.88 million, a price-to-earnings ratio of -10.74 and a beta of 1.79. The company has a fifty day moving average price of $1.85 and a 200 day moving average price of $1.33. D-Wave Quantum Inc. has a twelve month low of $0.68 and a twelve month high of $5.38.

Wall Street Analyst Weigh In

A number of research firms have commented on QBTS. Needham & Company LLC reaffirmed a "buy" rating and set a $2.25 target price on shares of D-Wave Quantum in a report on Friday, November 15th. B. Riley raised their price objective on D-Wave Quantum from $3.75 to $4.50 and gave the stock a "buy" rating in a research note on Monday, November 25th. Finally, Roth Mkm boosted their target price on shares of D-Wave Quantum from $3.00 to $7.00 and gave the company a "buy" rating in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $3.71.

Hedge Funds Weigh In On D-Wave Quantum

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its holdings in shares of D-Wave Quantum by 0.9% in the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company's stock worth $1,986,000 after acquiring an additional 17,225 shares during the period. Baader Bank Aktiengesellschaft bought a new position in D-Wave Quantum in the 2nd quarter worth about $28,000. Instrumental Wealth LLC increased its stake in shares of D-Wave Quantum by 85.9% in the second quarter. Instrumental Wealth LLC now owns 54,240 shares of the company's stock valued at $62,000 after purchasing an additional 25,067 shares during the period. Thoroughbred Financial Services LLC bought a new stake in shares of D-Wave Quantum during the second quarter valued at approximately $45,000. Finally, SG Americas Securities LLC acquired a new position in shares of D-Wave Quantum during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 42.47% of the company's stock.

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.

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