D-Wave Quantum Inc. (NYSE:QBTS) Shares Sold by XTX Topco Ltd

XTX Topco Ltd trimmed its position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 43.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,640 shares of the company's stock after selling 49,376 shares during the quarter. XTX Topco Ltd's holdings in D-Wave Quantum were worth $535,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in QBTS. PNC Financial Services Group Inc. purchased a new stake in D-Wave Quantum in the 4th quarter worth $38,000. Heritage Wealth Advisors acquired a new position in shares of D-Wave Quantum during the 4th quarter worth about $67,000. Kingsview Wealth Management LLC purchased a new position in D-Wave Quantum in the 4th quarter valued at about $84,000. Summit Investment Advisors Inc. boosted its holdings in D-Wave Quantum by 20.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company's stock worth $87,000 after buying an additional 1,766 shares during the last quarter. Finally, Spire Wealth Management purchased a new stake in D-Wave Quantum during the 4th quarter worth approximately $90,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, CFO John M. Markovich sold 5,582 shares of D-Wave Quantum stock in a transaction dated 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 of the company's stock, valued at $5,610,210.12. The trade was a 0.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Alan E. Baratz sold 8,372 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $44,120.44. Following the sale, the chief executive officer now directly owns 2,342,208 shares in the company, valued at $12,343,436.16. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.22% of the company's stock.

Analyst Ratings Changes

QBTS has been the subject of several recent research reports. Needham & Company LLC reissued a "buy" rating and issued a $8.50 price objective on shares of D-Wave Quantum in a research note on Wednesday, April 2nd. Benchmark reissued a "buy" rating and issued a $8.00 price target on shares of D-Wave Quantum in a research note on Friday, March 14th. B. Riley upped their price objective on shares of 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, Roth Mkm raised their target price on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, D-Wave Quantum currently has an average rating of "Buy" and an average price target of $8.42.

D-Wave Quantum Stock Up 15.4 %

Shares of D-Wave Quantum stock traded up $0.96 during mid-day trading on Wednesday, hitting $7.21. The stock had a trading volume of 20,317,176 shares, compared to its average volume of 33,772,452. The firm has a 50-day moving average of $6.98 and a two-hundred day moving average of $5.20. The firm has a market cap of $2.10 billion, a P/E ratio of -17.17 and a beta of 0.88. D-Wave Quantum Inc. has a 12-month low of $0.75 and a 12-month high of $11.95.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released 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 firm had revenue of $2.31 million during the quarter, compared to analyst estimates of $2.23 million. Sell-side analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

D-Wave Quantum Company 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.