Charles Schwab Investment Management Inc. Has $2.70 Million Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

Charles Schwab Investment Management Inc. grew its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 40.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 321,284 shares of the company's stock after buying an additional 91,721 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.12% of D-Wave Quantum worth $2,699,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in QBTS. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 645,039 shares in the last quarter. UNICOM Systems Inc. acquired a new stake in shares of D-Wave Quantum during the 4th quarter worth approximately $20,258,000. State Street Corp lifted 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 purchasing an additional 17,225 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of D-Wave Quantum by 40.9% during the fourth quarter. Bank of New York Mellon Corp now owns 219,620 shares of the company's stock valued at $1,845,000 after acquiring an additional 63,799 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of D-Wave Quantum during the fourth quarter worth about $1,653,000. Institutional investors and hedge funds own 42.47% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on QBTS. B. Riley upped 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 report on Friday, March 14th. Roth Mkm raised their target price 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. 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. Needham & Company LLC reissued a "buy" rating and set a $8.50 price target on shares of D-Wave Quantum in a report on Friday, March 14th. Finally, Benchmark reaffirmed a "buy" rating and issued a $8.00 price objective on shares of D-Wave Quantum in a report on Friday, March 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $8.42.

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D-Wave Quantum Price Performance

Shares of D-Wave Quantum stock traded up $0.02 during trading on Monday, hitting $7.60. The stock had a trading volume of 33,477,218 shares, compared to its average volume of 32,022,330. The business has a fifty day moving average of $6.67 and a two-hundred day moving average of $4.53. D-Wave Quantum Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $11.95. The firm has a market cap of $2.21 billion, a P/E ratio of -18.08 and a beta of 1.12.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.31 million for the quarter, compared to the consensus estimate of $2.23 million. As a group, research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Sector Pension Investme Public sold 2,778,564 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $6.14, for a total value of $17,060,382.96. Following the completion of the transaction, the insider now owns 37,278,688 shares of the company's stock, valued at approximately $228,891,144.32. This trade represents a 6.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John M. Markovich sold 5,582 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the sale, the chief financial officer now directly owns 1,064,556 shares in the company, valued at approximately $5,610,210.12. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,071,206 shares of company stock worth $46,758,181. 7.22% of the stock is owned by insiders.

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.