Rockefeller Capital Management L.P. Takes Position in D-Wave Quantum Inc. (NYSE:QBTS)

Rockefeller Capital Management L.P. acquired a new stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 226,779 shares of the company's stock, valued at approximately $1,905,000. Rockefeller Capital Management L.P. owned about 0.08% of D-Wave Quantum at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake 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 acquiring an additional 3,624,407 shares in the last quarter. UNICOM Systems Inc. acquired a new stake in shares of D-Wave Quantum during the fourth quarter worth about $20,258,000. Geode Capital Management LLC lifted its holdings in shares of D-Wave Quantum by 33.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company's stock valued at $2,513,000 after purchasing an additional 645,039 shares during the last quarter. Raymond James Financial Inc. purchased a new position in D-Wave Quantum during the 4th quarter worth approximately $2,087,000. Finally, Arete Wealth Advisors LLC increased its position in D-Wave Quantum by 1,300.0% during the fourth quarter. Arete Wealth Advisors LLC now owns 227,798 shares of the company's stock worth $1,913,000 after buying an additional 211,527 shares during the period. Hedge funds and other institutional investors own 42.47% of the company's stock.

D-Wave Quantum Stock Up 13.3 %

Shares of NYSE QBTS traded up $0.83 during midday trading on Wednesday, hitting $7.08. The company had a trading volume of 36,343,270 shares, compared to its average volume of 33,831,349. The business has a 50-day simple moving average of $6.98 and a two-hundred day simple moving average of $5.20. D-Wave Quantum Inc. has a twelve month low of $0.75 and a twelve month high of $11.95. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -16.87 and a beta of 0.88.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The firm had revenue of $2.31 million during the quarter, compared to analyst estimates of $2.23 million. On average, equities analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. B. Riley raised 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. Benchmark reaffirmed a "buy" rating and set a $8.00 price objective on shares of D-Wave Quantum in a research note on Friday, March 14th. Needham & Company LLC restated a "buy" rating and set a $8.50 price target on shares of D-Wave Quantum in a research note on Wednesday, April 2nd. Finally, Roth Mkm lifted their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $8.42.

Insider Transactions at D-Wave Quantum

In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of the firm's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $44,120.44. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a 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 shares were sold at an average price of $5.27, for a total value 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. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.22% of the company's stock.

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.