Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 58,100 shares of the company's stock, valued at approximately $488,000.
Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of D-Wave Quantum during the 3rd quarter worth approximately $42,000. Bogart Wealth LLC purchased a new position in D-Wave Quantum during the third quarter worth $49,000. Barclays PLC increased 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 worth $117,000 after buying an additional 89,894 shares in the last quarter. Arkadios Wealth Advisors purchased a new stake in shares of D-Wave Quantum in the fourth quarter valued at $162,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of D-Wave Quantum in the second quarter valued at $163,000. Hedge funds and other institutional investors own 42.47% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on QBTS. Benchmark reissued a "buy" rating and issued a $8.00 target price on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Roth Mkm boosted their price objective on shares of D-Wave Quantum from $3.00 to $7.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. 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 research note on Friday, December 20th. B. Riley increased their price target on D-Wave Quantum from $4.50 to $9.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $2.25 price objective on shares of D-Wave Quantum in a research report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum has a consensus rating of "Buy" and a consensus price target of $6.38.
Read Our Latest Stock Report on QBTS
D-Wave Quantum Stock Up 2.1 %
Shares of NYSE QBTS traded up $0.12 during trading on Thursday, hitting $5.64. 54,798,928 shares of the company traded hands, compared to its average volume of 102,778,547. The firm has a market capitalization of $1.52 billion, a P/E ratio of -13.42 and a beta of 1.16. The company has a 50-day moving average price of $5.90 and a 200-day moving average price of $2.75. D-Wave Quantum Inc. has a 1 year low of $0.75 and a 1 year high of $11.41.
Insider Buying and Selling at D-Wave Quantum
In other news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the company's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $4.21, for a total value of $35,522,266.53. Following the completion of the sale, the insider now owns 1,000,000 shares of the company's stock, valued at $4,210,000. This represents a 89.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alan E. Baratz sold 8,372 shares of the stock in a transaction dated 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 approximately $12,343,436.16. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,152,665 shares of company stock valued at $92,096,075. Company insiders own 7.22% of the company's stock.
About D-Wave Quantum
(
Free Report)
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.
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