Jones Financial Companies Lllp Purchases 18,325 Shares of D-Wave Quantum Inc. (NYSE:QBTS)

Jones Financial Companies Lllp raised its position in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 341.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,688 shares of the company’s stock after acquiring an additional 18,325 shares during the period. Jones Financial Companies Lllp’s holdings in D-Wave Quantum were worth $199,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of QBTS. UNICOM Systems Inc. bought a new position in D-Wave Quantum during the fourth quarter valued at $20,258,000. Penserra Capital Management LLC increased 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 acquiring an additional 839,942 shares during the last quarter. Geode Capital Management LLC increased its position in D-Wave Quantum by 33.8% during the third quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock valued at $2,513,000 after acquiring an additional 645,039 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in D-Wave Quantum during the fourth quarter valued at $1,061,000. Finally, Silverleafe Capital Partners LLC bought a new position in D-Wave Quantum during the fourth quarter valued at $820,000. Institutional investors own 42.47% of the company’s stock.

Wall Street Analyst Weigh In

QBTS has been the topic of a number of research analyst reports. Benchmark restated a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a report 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 report on Friday, November 15th. Roth Mkm upped their price target on shares of D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Craig Hallum upped their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, B. Riley upped their price target 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. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $6.71.

Insiders Place Their Bets

In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $44,120.44. Following the completion of the sale, the chief executive officer now directly owns 2,342,208 shares of the company’s stock, valued at approximately $12,343,436.16. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $4.07, for a total transaction of $29,624,260.16. Following the sale, the insider now directly owns 30,000,000 shares of the company’s stock, valued at approximately $122,100,000. The trade was a 19.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,071,206 shares of company stock worth $53,438,181 in the last three months. Corporate insiders own 7.22% of the company’s stock.

D-Wave Quantum Price Performance

Shares of D-Wave Quantum stock opened at $6.90 on Friday. D-Wave Quantum Inc. has a 1 year low of $0.75 and a 1 year high of $11.41. The firm’s 50-day moving average is $6.05 and its two-hundred day moving average is $3.80. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -16.42 and a beta of 1.12.

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.