Kingsview Wealth Management LLC Invests $84,000 in D-Wave Quantum Inc. (NYSE:QBTS)

Kingsview Wealth Management LLC bought a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,022 shares of the company’s stock, valued at approximately $84,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new position in D-Wave Quantum during the 4th quarter worth approximately $90,000. Sonora Investment Management Group LLC acquired a new position in shares of D-Wave Quantum during the fourth quarter worth $135,000. State Street Corp grew its stake in shares of D-Wave Quantum by 0.9% during the third quarter. State Street Corp now owns 2,020,977 shares of the company’s stock worth $1,986,000 after purchasing an additional 17,225 shares in the last quarter. Strategic Advocates LLC purchased a new position in D-Wave Quantum in the fourth quarter valued at $148,000. Finally, Arkadios Wealth Advisors acquired a new stake in D-Wave Quantum in the fourth quarter valued at $162,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

Insider Activity

In other D-Wave Quantum news, CFO John M. Markovich sold 5,582 shares of D-Wave Quantum stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 1,064,556 shares in the company, valued at approximately $5,610,210.12. This trade represents a 0.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $4.21, for a total value of $35,522,266.53. Following the completion of the transaction, the insider now directly owns 1,000,000 shares in the company, valued at approximately $4,210,000. The trade was a 89.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,152,665 shares of company stock valued at $92,096,075. 7.22% of the stock is currently owned by company insiders.

D-Wave Quantum Stock Down 1.9 %

NYSE:QBTS opened at $6.38 on Friday. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $11.41. The stock’s 50 day moving average price is $6.59 and its 200 day moving average price is $3.15. The company has a market capitalization of $1.72 billion, a PE ratio of -15.18 and a beta of 1.10.

Analyst Ratings Changes

Several research firms have recently issued reports on QBTS. Roth Mkm upped their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Craig Hallum upped their price target on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. Benchmark reissued a “buy” rating and set a $8.00 price objective on shares of D-Wave Quantum in a report on Tuesday, January 14th. B. Riley boosted their price objective on shares of D-Wave Quantum from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $2.25 target price on shares of D-Wave Quantum in a research report on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum currently has an average rating of “Buy” and a consensus target price of $6.71.

D-Wave Quantum 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.