Barclays PLC Buys 89,894 Shares of D-Wave Quantum Inc. (NYSE:QBTS)

Barclays PLC grew its stake in D-Wave Quantum Inc. (NYSE:QBTS) by 298.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,029 shares of the company’s stock after buying an additional 89,894 shares during the quarter. Barclays PLC owned approximately 0.05% of D-Wave Quantum worth $117,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in D-Wave Quantum in the 3rd quarter worth approximately $42,000. Bogart Wealth LLC bought a new position in shares of D-Wave Quantum in the third quarter worth approximately $49,000. Rhumbline Advisers purchased a new stake in shares of D-Wave Quantum in the second quarter worth $93,000. XTX Topco Ltd bought a new stake in shares of D-Wave Quantum during the 2nd quarter valued at $163,000. Finally, Squarepoint Ops LLC purchased a new position in shares of D-Wave Quantum during the 2nd quarter valued at $163,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Price Performance

NYSE QBTS opened at $6.02 on Friday. D-Wave Quantum Inc. has a 1-year low of $0.71 and a 1-year high of $11.41. The business has a 50 day simple moving average of $5.48 and a two-hundred day simple moving average of $2.59. The stock has a market capitalization of $1.62 billion, a PE ratio of -14.33 and a beta of 1.16.

Insider Activity

In other news, major shareholder Sector Pension Investme Public sold 1,000,000 shares of the company’s 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 legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 20,138,711 shares of company stock worth $92,022,537. 7.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

QBTS has been the subject of a number of analyst reports. Roth Mkm increased their price target on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Craig Hallum increased their target price on D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. B. Riley lifted their target price on D-Wave Quantum from $4.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and issued a $2.25 price target on shares of D-Wave Quantum in a research note on Friday, November 15th. Finally, Benchmark reiterated a “buy” rating and set a $8.00 price objective on shares of D-Wave Quantum in a research report on Tuesday, January 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum presently has an average rating of “Buy” and an average price target of $6.38.

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.