Arete Wealth Advisors LLC Buys 211,527 Shares of D-Wave Quantum Inc. (NYSE:QBTS)

Arete Wealth Advisors LLC increased its stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 1,300.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 227,798 shares of the company's stock after acquiring an additional 211,527 shares during the quarter. Arete Wealth Advisors LLC owned approximately 0.08% of D-Wave Quantum worth $1,913,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of QBTS. Corebridge Financial Inc. increased its holdings in shares of D-Wave Quantum by 5.0% in the 4th quarter. Corebridge Financial Inc. now owns 49,174 shares of the company's stock valued at $413,000 after purchasing an additional 2,342 shares during the period. Steward Partners Investment Advisory LLC grew its stake in D-Wave Quantum by 38.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,060 shares of the company's stock valued at $110,000 after buying an additional 3,660 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in D-Wave Quantum during the fourth quarter valued at about $38,000. Blair William & Co. IL grew its holdings in D-Wave Quantum by 29.9% in the 4th quarter. Blair William & Co. IL now owns 27,935 shares of the company's stock valued at $235,000 after buying an additional 6,435 shares during the last quarter. Finally, Heritage Wealth Advisors acquired a new stake in shares of D-Wave Quantum in the fourth quarter worth $67,000. 42.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at D-Wave Quantum

In related news, CFO John M. Markovich sold 5,582 shares of the company's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the completion of the sale, the chief financial officer now owns 1,064,556 shares of the company's stock, valued at $5,610,210.12. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Sector Pension Investme Public sold 7,278,688 shares of D-Wave Quantum stock in a transaction that occurred on Monday, January 13th. The shares were 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 directly owns 30,000,000 shares in the company, valued at $122,100,000. This trade represents a 19.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,071,206 shares of company stock worth $46,758,181 over the last quarter. Company insiders own 7.22% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. B. Riley lifted their price target 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. Needham & Company LLC reiterated a "buy" rating and issued a $8.50 price objective on shares of D-Wave Quantum in a research note on Wednesday, April 2nd. Roth Mkm increased their target price on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock 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 note on Friday, March 14th. Finally, Craig Hallum lifted their target price on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $8.42.

D-Wave Quantum Price Performance

Shares of QBTS traded up $0.05 during mid-day trading on Monday, hitting $6.39. 27,265,189 shares of the company's stock were exchanged, compared to its average volume of 32,680,759. The company has a 50-day simple moving average of $6.74 and a 200 day simple moving average of $4.70. The company has a market cap of $1.86 billion, a PE ratio of -15.15 and a beta of 0.88. D-Wave Quantum Inc. has a 52 week low of $0.75 and a 52 week high of $11.95.

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

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.