D-Wave Quantum Inc. (NYSE:QBTS) Stock Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 40.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,620 shares of the company's stock after buying an additional 63,799 shares during the period. Bank of New York Mellon Corp owned approximately 0.08% of D-Wave Quantum worth $1,845,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. UNICOM Systems Inc. acquired a new stake in D-Wave Quantum during the fourth quarter worth about $20,258,000. Penserra Capital Management LLC increased its position in D-Wave Quantum by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company's stock worth $4,409,000 after purchasing an additional 839,942 shares in the last quarter. Geode Capital Management LLC increased its position in D-Wave Quantum by 33.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company's stock worth $2,513,000 after purchasing an additional 645,039 shares in the last quarter. Silverleafe Capital Partners LLC purchased a new position in D-Wave Quantum in the fourth quarter valued at approximately $820,000. Finally, Barclays PLC lifted its position in D-Wave Quantum by 298.3% during 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 in the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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D-Wave Quantum Stock Up 0.3 %

Shares of D-Wave Quantum stock traded up $0.03 during trading hours on Tuesday, hitting $8.75. 74,498,268 shares of the company's stock traded hands, compared to its average volume of 31,291,637. D-Wave Quantum Inc. has a twelve month low of $0.75 and a twelve month high of $11.95. The company has a market cap of $2.36 billion, a PE ratio of -20.83 and a beta of 1.12. The stock has a 50 day simple moving average of $6.48 and a 200-day simple moving average of $4.33.

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

Insider Buying and Selling

In other news, 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 stock was sold at an average price of $4.07, for a total value 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. This trade represents a 19.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan E. Baratz sold 8,372 shares of the business's 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 completion of the sale, the chief executive officer now owns 2,342,208 shares of the company's stock, valued at $12,343,436.16. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,071,206 shares of company stock worth $46,758,181. Insiders own 7.22% 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.