Steward Partners Investment Advisory LLC Purchases 3,660 Shares of D-Wave Quantum Inc. (NYSE:QBTS)

Steward Partners Investment Advisory LLC raised its position in D-Wave Quantum Inc. (NYSE:QBTS) by 38.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,060 shares of the company’s stock after purchasing an additional 3,660 shares during the period. Steward Partners Investment Advisory LLC’s holdings in D-Wave Quantum were worth $110,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bravias Capital Group LLC bought a new stake in shares of D-Wave Quantum during the fourth quarter worth $122,000. SBI Securities Co. Ltd. bought a new stake in shares of D-Wave Quantum during the fourth quarter worth $1,653,000. Jones Financial Companies Lllp increased its position in shares of D-Wave Quantum by 341.7% during the fourth quarter. Jones Financial Companies Lllp now owns 23,688 shares of the company’s stock worth $199,000 after acquiring an additional 18,325 shares in the last quarter. Jacobi Capital Management LLC increased its position in shares of D-Wave Quantum by 107.4% during the fourth quarter. Jacobi Capital Management LLC now owns 25,100 shares of the company’s stock worth $211,000 after acquiring an additional 13,000 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of D-Wave Quantum during the fourth quarter worth $1,061,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Price Performance

Shares of QBTS stock opened at $10.19 on Monday. The stock has a market cap of $2.74 billion, a P/E ratio of -24.25 and a beta of 1.12. The company has a fifty day moving average price of $6.07 and a two-hundred day moving average price of $3.91. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $11.41.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on QBTS shares. Roth Mkm increased their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday. Craig Hallum increased their target price 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. Benchmark restated a “buy” rating and set a $8.00 target price on shares of D-Wave Quantum in a report on Friday. Needham & Company LLC restated a “buy” rating and set a $8.50 target price on shares of D-Wave Quantum in a report on Friday. Finally, B. Riley increased their target price on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday. Six 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 a consensus target price of $8.42.

Insider Buying and Selling at D-Wave Quantum

In other news, major shareholder Sector Pension Investme Public sold 1,000,000 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alan E. Baratz sold 8,372 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $44,120.44. Following the sale, the chief executive officer now 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 position. The disclosure for this sale can be found here. Insiders sold a total of 11,071,206 shares of company stock worth $53,438,181 over the last quarter. 7.22% of the stock is currently owned by insiders.

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.