D-Wave Quantum Inc. (NYSE:QBTS) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 80.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,158 shares of the company's stock after selling 55,834 shares during the quarter. Sei Investments Co.'s holdings in D-Wave Quantum were worth $111,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in QBTS. PNC Financial Services Group Inc. purchased a new position in shares of D-Wave Quantum in the 4th quarter valued at approximately $38,000. Kingsview Wealth Management LLC purchased a new stake in D-Wave Quantum in the fourth quarter valued at $84,000. Spire Wealth Management purchased a new position in shares of D-Wave Quantum during the 4th quarter valued at about $90,000. Vontobel Holding Ltd. purchased a new stake in shares of D-Wave Quantum in the fourth quarter worth about $105,000. Finally, HUB Investment Partners LLC purchased a new position in D-Wave Quantum during the fourth quarter valued at approximately $105,000. Institutional investors own 42.47% of the company's stock.

D-Wave Quantum Stock Performance

Shares of NYSE:QBTS traded up $0.04 during trading hours on Tuesday, reaching $7.06. The stock had a trading volume of 3,545,115 shares, compared to its average volume of 33,296,635. The firm's 50 day moving average is $6.91 and its 200-day moving average is $5.00. D-Wave Quantum Inc. has a 1 year low of $0.75 and a 1 year high of $11.95. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -16.75 and a beta of 0.88.

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D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.31 million for the quarter, compared to analysts' expectations of $2.23 million. Analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Insider Buying and Selling at D-Wave Quantum

In other news, CEO Alan E. Baratz sold 8,372 shares of the firm's stock in a transaction that occurred on Thursday, January 23rd. The shares were 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 directly owns 2,342,208 shares of the company's stock, valued at $12,343,436.16. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Markovich sold 5,582 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 $29,417.14. Following the completion of the sale, the chief financial officer now owns 1,064,556 shares in the company, valued at $5,610,210.12. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on QBTS. Needham & Company LLC reiterated a "buy" rating and issued a $8.50 target price on shares of D-Wave Quantum in a research note on Wednesday, April 2nd. Benchmark reiterated a "buy" rating and set a $8.00 price objective on shares of D-Wave Quantum in a research note on Friday, March 14th. B. Riley raised their price target on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Craig Hallum boosted their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Finally, Roth Mkm raised their price target on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus 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.