Rhumbline Advisers Purchases 57,438 Shares of D-Wave Quantum Inc. (NYSE:QBTS)

Rhumbline Advisers raised its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 75.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,405 shares of the company’s stock after purchasing an additional 57,438 shares during the quarter. Rhumbline Advisers’ holdings in D-Wave Quantum were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Kingsview Wealth Management LLC bought a new stake in D-Wave Quantum during the 4th quarter worth approximately $84,000. Spire Wealth Management acquired a new position in D-Wave Quantum in the fourth quarter valued at about $90,000. Vontobel Holding Ltd. acquired a new stake in shares of D-Wave Quantum in the 4th quarter valued at approximately $105,000. Barclays PLC boosted its position in shares of D-Wave Quantum by 298.3% during the third quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after purchasing an additional 89,894 shares in the last quarter. Finally, Sonora Investment Management Group LLC bought a new position in shares of D-Wave Quantum during the 4th quarter valued at about $135,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

Insider Activity at D-Wave Quantum

In other news, CEO Alan E. Baratz sold 8,372 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 transaction of $44,120.44. Following the completion of the transaction, the chief executive officer now directly owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. The trade was a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Sector Pension Investme Public sold 643,866 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $4.87, for a total value of $3,135,627.42. Following the transaction, the insider now directly owns 18,730,193 shares in the company, valued at $91,216,039.91. The trade was a 3.32 % decrease in their ownership of the stock. 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. Insiders own 7.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on QBTS shares. B. Riley raised their price objective on shares of D-Wave Quantum from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Benchmark reissued a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Craig Hallum upped their price objective 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. Roth Mkm increased their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Needham & Company LLC restated a “buy” rating and issued a $2.25 target price on shares of D-Wave Quantum in a research note on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $6.71.

D-Wave Quantum Price Performance

Shares of NYSE QBTS opened at $5.56 on Thursday. The business has a 50-day moving average of $6.49 and a 200-day moving average of $3.63. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -13.23 and a beta of 1.10. D-Wave Quantum Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $11.41.

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.