WINTON GROUP Ltd Invests $314,000 in D-Wave Quantum Inc. (NYSE:QBTS)

WINTON GROUP Ltd acquired 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 disclosure with the Securities & Exchange Commission. The institutional investor acquired 37,375 shares of the company's stock, valued at approximately $314,000.

Several other large investors also recently bought and sold shares of QBTS. Barclays PLC increased its holdings in shares of D-Wave Quantum by 298.3% in the 3rd quarter. Barclays PLC now owns 120,029 shares of the company's stock valued at $117,000 after acquiring an additional 89,894 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of D-Wave Quantum by 40.9% during the 4th quarter. Bank of New York Mellon Corp now owns 219,620 shares of the company's stock worth $1,845,000 after acquiring an additional 63,799 shares in the last quarter. Silverleafe Capital Partners LLC purchased a new stake in D-Wave Quantum during the fourth quarter worth $820,000. Commonwealth Equity Services LLC grew its stake in D-Wave Quantum by 1,097.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 228,047 shares of the company's stock valued at $1,916,000 after acquiring an additional 209,000 shares during the last quarter. Finally, Truist Financial Corp acquired a new stake in shares of D-Wave Quantum in the fourth quarter valued at approximately $108,000. Hedge funds and other institutional investors own 42.47% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Sector Pension Investme Public sold 2,778,564 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $6.14, for a total transaction of $17,060,382.96. Following the completion of the sale, the insider now directly owns 37,278,688 shares of the company's stock, valued at $228,891,144.32. This trade represents a 6.94 % decrease in their position. The transaction 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 business's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 1,064,556 shares in the company, valued at approximately $5,610,210.12. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,071,206 shares of company stock worth $46,758,181 in the last quarter. 7.22% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

Several analysts have commented on QBTS shares. Roth Mkm lifted their price target on D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a report on Friday, March 14th. Benchmark restated a "buy" rating and set a $8.00 price objective on shares of D-Wave Quantum in a research note on Friday, March 14th. Craig Hallum upped their target price on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a "buy" rating in a research note on Friday, December 20th. B. Riley increased their target price on D-Wave Quantum from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $8.50 price objective on shares of D-Wave Quantum in a report on Friday, March 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $8.42.

D-Wave Quantum Stock Down 2.3 %

D-Wave Quantum stock traded down $0.18 on Tuesday, hitting $7.43. The company's stock had a trading volume of 48,252,283 shares, compared to its average volume of 32,086,856. The company has a fifty day moving average price of $6.67 and a 200-day moving average price of $4.53. The firm has a market cap of $2.16 billion, a P/E ratio of -17.68 and a beta of 1.12. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $11.95.

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

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.