D-Wave Quantum Inc. (NYSE:QBTS) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,974,395 shares of the company's stock after purchasing an additional 418,468 shares during the period. Geode Capital Management LLC owned approximately 1.11% of D-Wave Quantum worth $24,992,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of QBTS. Vanguard Group Inc. increased its position in D-Wave Quantum by 103.7% during the 4th quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company's stock worth $59,794,000 after purchasing an additional 3,624,407 shares during the period. UNICOM Systems Inc. purchased a new stake in shares of D-Wave Quantum in the fourth quarter valued at approximately $20,258,000. Raymond James Financial Inc. acquired a new position in D-Wave Quantum during the fourth quarter worth $2,087,000. Commonwealth Equity Services LLC raised its position in D-Wave Quantum by 1,097.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 228,047 shares of the company's stock worth $1,916,000 after acquiring an additional 209,000 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in D-Wave Quantum in the fourth quarter valued at $1,653,000. Hedge funds and other institutional investors own 42.47% of the company's stock.

D-Wave Quantum Stock Down 0.1 %

Shares of D-Wave Quantum stock traded down $0.01 during trading on Tuesday, hitting $6.24. 14,994,478 shares of the company were exchanged, compared to its average volume of 33,818,014. 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 50 day moving average price of $6.98 and a 200 day moving average price of $5.20. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -14.85 and a beta of 0.88.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $2.31 million during the quarter, compared to the consensus estimate of $2.23 million. Analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on QBTS shares. Needham & Company LLC reaffirmed a "buy" rating and set a $8.50 price target on shares of D-Wave Quantum in a research note on Wednesday, April 2nd. Benchmark reaffirmed a "buy" rating and issued a $8.00 target price on shares of D-Wave Quantum in a report on Friday, March 14th. B. Riley boosted their price target on D-Wave Quantum from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Finally, 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 note on Friday, March 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $8.42.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of the business's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $44,120.44. Following the completion of the transaction, the chief executive officer now directly owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. The trade was a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John M. Markovich sold 5,582 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $29,417.14. Following the transaction, the chief financial officer now directly owns 1,064,556 shares in the company, valued at approximately $5,610,210.12. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. 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.