SBI Securities Co. Ltd. Purchases New Stake in D-Wave Quantum Inc. (NYSE:QBTS)

SBI Securities Co. Ltd. bought a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 196,764 shares of the company's stock, valued at approximately $1,653,000. SBI Securities Co. Ltd. owned 0.07% of D-Wave Quantum at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of QBTS. UNICOM Systems Inc. purchased a new position in shares of D-Wave Quantum in the 4th quarter valued at about $20,258,000. Penserra Capital Management LLC boosted its stake in shares of D-Wave Quantum by 23.0% in the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company's stock valued at $4,409,000 after buying an additional 839,942 shares during the period. Geode Capital Management LLC boosted its stake 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 buying an additional 645,039 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of D-Wave Quantum in the 4th quarter valued at about $1,061,000. Finally, Silverleafe Capital Partners LLC purchased a new position in shares of D-Wave Quantum in the 4th quarter valued at about $820,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QBTS has been the topic of several research analyst reports. Benchmark reissued a "buy" rating and set a $8.00 target price on shares of D-Wave Quantum in a research report on Tuesday, January 14th. Craig Hallum raised their target price 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 $2.25 target price on shares of D-Wave Quantum in a research report on Friday, November 15th. Roth Mkm raised their target price on D-Wave Quantum from $3.00 to $7.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Finally, B. Riley raised their target price on D-Wave Quantum from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $6.71.

D-Wave Quantum Stock Up 8.5 %

QBTS traded up $0.42 during trading on Tuesday, hitting $5.32. 48,931,626 shares of the stock were exchanged, compared to its average volume of 81,185,281. The firm has a market capitalization of $1.43 billion, a P/E ratio of -12.65 and a beta of 1.10. D-Wave Quantum Inc. has a 1-year low of $0.75 and a 1-year high of $11.41. The stock has a fifty day moving average price of $6.54 and a two-hundred day moving average price of $3.62.

Insiders Place Their Bets

In other news, CFO John M. Markovich sold 5,582 shares of the business's stock in a transaction that occurred 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 owns 1,064,556 shares of the company's stock, valued at approximately $5,610,210.12. The trade was a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the business's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $4.07, for a total value of $29,624,260.16. Following the completion of the transaction, the insider now directly owns 30,000,000 shares in the company, valued at approximately $122,100,000. The trade was a 19.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,152,665 shares of company stock valued at $92,096,075 over the last quarter. Company insiders own 7.22% of the company's stock.

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.