UNICOM Systems Inc. Buys Shares of 2,411,704 D-Wave Quantum Inc. (NYSE:QBTS)

UNICOM Systems Inc. bought a new position in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,411,704 shares of the company's stock, valued at approximately $20,258,000. D-Wave Quantum makes up 4.9% of UNICOM Systems Inc.'s portfolio, making the stock its 5th largest holding. UNICOM Systems Inc. owned about 0.90% of D-Wave Quantum as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR purchased a new stake in D-Wave Quantum in the fourth quarter worth approximately $494,000. AlphaStar Capital Management LLC bought a new stake in shares of D-Wave Quantum in the 4th quarter worth approximately $225,000. Kingsview Wealth Management LLC purchased a new stake in shares of D-Wave Quantum in the 4th quarter valued at $84,000. Spire Wealth Management bought a new position in shares of D-Wave Quantum during the 4th quarter valued at $90,000. Finally, Strategic Advocates LLC purchased a new position in D-Wave Quantum in the 4th quarter worth $148,000. Institutional investors own 42.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on QBTS. Roth Mkm upped their price target 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. Needham & Company LLC reissued a "buy" rating and issued a $2.25 target price on shares of D-Wave Quantum in a research note on Friday, November 15th. B. Riley raised their price target on D-Wave Quantum from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Friday. Craig Hallum lifted their price target 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, Benchmark reissued a "buy" rating and set a $8.00 price objective on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $6.71.

Insider Activity

In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of the company'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 owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. This represents a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Sector Pension Investme Public sold 1,000,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $6.68, for a total value of $6,680,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,152,665 shares of company stock valued at $92,096,075. Company insiders own 7.22% of the company's stock.

D-Wave Quantum Price Performance

NYSE:QBTS traded down $0.06 during mid-day trading on Friday, reaching $6.45. 46,971,055 shares of the company's stock traded hands, compared to its average volume of 87,131,742. D-Wave Quantum Inc. has a 12-month low of $0.75 and a 12-month high of $11.41. The company has a 50 day moving average price of $6.56 and a 200-day moving average price of $3.11. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -15.32 and a beta of 1.10.

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.