58,832 Shares in D-Wave Quantum Inc. (NYSE:QBTS) Acquired by Stephens Inc. AR

Stephens Inc. AR bought a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 58,832 shares of the company's stock, valued at approximately $494,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC boosted its holdings in D-Wave Quantum by 23.0% during the third quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company's stock worth $4,409,000 after buying an additional 839,942 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of D-Wave Quantum by 33.8% during 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 in the last quarter. State Street Corp lifted its holdings in shares of D-Wave Quantum by 0.9% during the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company's stock valued at $1,986,000 after purchasing an additional 17,225 shares in the last quarter. Barclays PLC lifted its holdings in shares of D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company's stock valued at $117,000 after purchasing an additional 89,894 shares in the last quarter. Finally, Silverleafe Capital Partners LLC bought a new position in shares of D-Wave Quantum during the 4th quarter valued at about $820,000. Institutional investors own 42.47% of the company's stock.

D-Wave Quantum Trading Down 6.4 %

Shares of NYSE:QBTS traded down $0.41 during trading on Tuesday, hitting $5.97. 29,813,941 shares of the company were exchanged, compared to its average volume of 85,413,000. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -14.20 and a beta of 1.10. D-Wave Quantum Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $11.41. The firm has a fifty day moving average price of $6.62 and a two-hundred day moving average price of $3.21.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on QBTS shares. Needham & Company LLC reiterated a "buy" rating and set a $2.25 price objective on shares of D-Wave Quantum in a report on Friday, November 15th. Benchmark reiterated a "buy" rating and set a $8.00 price objective on shares of D-Wave Quantum in a report on Tuesday, January 14th. B. Riley lifted their price objective on D-Wave Quantum from $9.00 to $11.00 and gave the company a "buy" rating in a report on Friday. Craig Hallum lifted their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the company a "buy" rating in a report on Friday, December 20th. Finally, Roth Mkm lifted their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum has an average rating of "Buy" and an average target price of $6.71.

Insiders Place Their Bets

In related news, CEO Alan E. Baratz sold 8,372 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 transaction of $44,120.44. Following the transaction, the chief executive officer now directly owns 2,342,208 shares of the company's stock, valued at approximately $12,343,436.16. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owns 1,064,556 shares in the company, valued at $5,610,210.12. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,152,665 shares of company stock valued at $92,096,075 in the last 90 days. 7.22% of the stock is currently owned by insiders.

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.