Hall Kathryn A. Makes New Investment in D-Wave Quantum Inc. (NYSE:QBTS)

Hall Kathryn A. purchased a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 39,123 shares of the company's stock, valued at approximately $329,000. D-Wave Quantum makes up about 0.2% of Hall Kathryn A.'s holdings, making the stock its 18th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC increased its holdings in D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company's stock worth $117,000 after purchasing an additional 89,894 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of D-Wave Quantum by 40.9% in the fourth quarter. Bank of New York Mellon Corp now owns 219,620 shares of the company's stock worth $1,845,000 after buying an additional 63,799 shares during the last quarter. Silverleafe Capital Partners LLC acquired a new stake in D-Wave Quantum in the fourth quarter valued at $820,000. Commonwealth Equity Services LLC boosted its stake in D-Wave Quantum by 1,097.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 228,047 shares of the company's stock valued at $1,916,000 after acquiring an additional 209,000 shares during the last quarter. Finally, Truist Financial Corp bought a new stake in shares of D-Wave Quantum in the 4th quarter worth about $108,000. Hedge funds and other institutional investors own 42.47% of the company's stock.

Insider Buying and Selling at D-Wave Quantum

In other news, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the stock in a transaction 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 sale, the insider now owns 30,000,000 shares in the company, valued at $122,100,000. This represents a 19.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Alan E. Baratz sold 8,372 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 2,342,208 shares in the company, valued at $12,343,436.16. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,071,206 shares of company stock valued at $46,758,181. 7.22% of the stock is currently owned by corporate insiders.

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D-Wave Quantum Stock Down 2.7 %

NYSE:QBTS traded down $0.20 during trading hours on Thursday, reaching $7.15. 29,385,036 shares of the company's stock were exchanged, compared to its average volume of 32,337,161. The company has a market capitalization of $2.08 billion, a P/E ratio of -17.04 and a beta of 1.12. D-Wave Quantum Inc. has a 12 month low of $0.75 and a 12 month high of $11.95. The business's 50-day simple moving average is $6.71 and its two-hundred day simple moving average is $4.59.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on QBTS shares. Benchmark reiterated a "buy" rating and issued a $8.00 price target on shares of D-Wave Quantum in a research note on Friday, March 14th. Roth Mkm upped their price target 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 reaffirmed a "buy" rating and issued a $8.50 price objective on shares of D-Wave Quantum in a report on Wednesday. Craig Hallum increased 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. Finally, B. Riley lifted their price target on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a "buy" rating in a report on Friday, March 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $8.42.

About D-Wave Quantum

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.