Blair William & Co. IL Grows Stock Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

Blair William & Co. IL increased its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 29.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,935 shares of the company’s stock after purchasing an additional 6,435 shares during the period. Blair William & Co. IL’s holdings in D-Wave Quantum were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in D-Wave Quantum by 103.7% during the 4th quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company’s stock worth $59,794,000 after purchasing an additional 3,624,407 shares during the period. Geode Capital Management LLC raised 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 in the last quarter. UNICOM Systems Inc. acquired a new position in D-Wave Quantum in the fourth quarter valued at approximately $20,258,000. State Street Corp boosted its position in D-Wave Quantum by 0.9% in the 3rd 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. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of D-Wave Quantum by 40.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 321,284 shares of the company’s stock worth $2,699,000 after purchasing an additional 91,721 shares during the period. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other D-Wave Quantum news, CFO John M. Markovich sold 5,582 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were 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 of the company’s stock, valued at $5,610,210.12. This trade represents a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $4.07, for a total value of $29,624,260.16. Following the completion of the sale, the insider now owns 30,000,000 shares of the company’s stock, valued at $122,100,000. This trade represents a 19.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,071,206 shares of company stock worth $46,758,181. 7.22% of the stock is owned by insiders.

D-Wave Quantum Trading Down 12.2 %

NYSE:QBTS opened at $6.29 on Friday. The firm has a market cap of $1.83 billion, a P/E ratio of -14.98 and a beta of 0.88. The stock has a 50 day moving average of $6.74 and a two-hundred day moving average of $4.67. D-Wave Quantum Inc. has a 12 month low of $0.75 and a 12 month high of $11.95.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The company had revenue of $2.31 million during the quarter, compared to analysts’ expectations of $2.23 million. On average, research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on QBTS. Benchmark reissued a “buy” rating and set a $8.00 price target on shares of D-Wave Quantum in a report on Friday, March 14th. Craig Hallum raised their target price on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. B. Riley upped their price target on D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Needham & Company LLC reissued a “buy” rating and issued a $8.50 price objective on shares of D-Wave Quantum in a report on Wednesday. Finally, Roth Mkm upped their target price on D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $8.42.

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.