D-Wave Quantum Inc. (NYSE:QBTS) Shares Bought by Barclays PLC

Barclays PLC boosted its position in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 298.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 120,029 shares of the company’s stock after buying an additional 89,894 shares during the quarter. Barclays PLC owned approximately 0.06% of D-Wave Quantum worth $117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Penserra Capital Management LLC grew its position 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 valued at $4,409,000 after buying an additional 839,942 shares during the period. State Street Corp grew its position in D-Wave Quantum by 0.9% during the third quarter. State Street Corp now owns 2,020,977 shares of the company’s stock valued at $1,986,000 after buying an additional 17,225 shares during the period. Marshall Wace LLP acquired a new stake in D-Wave Quantum during the second quarter valued at $265,000. Bank of New York Mellon Corp acquired a new stake in D-Wave Quantum during the second quarter valued at $251,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of D-Wave Quantum in the second quarter valued at about $163,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

D-Wave Quantum Trading Down 36.1 %

NYSE:QBTS opened at $6.10 on Thursday. The company’s 50-day moving average price is $4.64 and its 200-day moving average price is $2.28. The company has a market cap of $1.64 billion, a P/E ratio of -14.52 and a beta of 1.16. D-Wave Quantum Inc. has a twelve month low of $0.68 and a twelve month high of $11.41.

Insider Transactions at D-Wave Quantum

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 1,000,000 shares of D-Wave Quantum stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $6.68, for a total transaction of $6,680,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 10,081,459 shares of company stock valued at $45,337,894. Corporate insiders own 7.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QBTS. Needham & Company LLC reiterated a “buy” rating and issued a $2.25 target price on shares of D-Wave Quantum in a research report on Friday, November 15th. Benchmark lifted their target price on shares of D-Wave Quantum from $3.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Craig Hallum lifted 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 report on Friday, December 20th. Roth Mkm lifted their target price 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. Finally, B. Riley lifted their target price on shares of D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $5.63.

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.