Vontobel Holding Ltd. Purchases New Position in D-Wave Quantum Inc. (NYSE:QBTS)

Vontobel Holding Ltd. purchased a new stake in D-Wave Quantum Inc. (NYSE:QBTS) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 12,500 shares of the company’s stock, valued at approximately $105,000.

Several other large investors have also recently added to or reduced their stakes in QBTS. SG Americas Securities LLC acquired a new stake in D-Wave Quantum in the 3rd quarter valued at $42,000. Bogart Wealth LLC acquired a new position in D-Wave Quantum during the 3rd quarter worth approximately $49,000. Kingsview Wealth Management LLC acquired a new position in D-Wave Quantum during the 4th quarter worth approximately $84,000. Spire Wealth Management acquired a new position in D-Wave Quantum during the 4th quarter worth approximately $90,000. Finally, Barclays PLC lifted its position in D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after acquiring an additional 89,894 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QBTS has been the topic of several recent research reports. B. Riley boosted their price target on D-Wave Quantum from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Craig Hallum boosted their price target 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. Needham & Company LLC reissued a “buy” rating and set a $2.25 price target on shares of D-Wave Quantum in a research report on Friday, November 15th. Benchmark reissued a “buy” rating and set a $8.00 price target on shares of D-Wave Quantum in a research report on Tuesday, January 14th. Finally, Roth Mkm boosted their price target 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $6.71.

D-Wave Quantum Trading Down 1.7 %

Shares of NYSE QBTS opened at $7.27 on Friday. D-Wave Quantum Inc. has a twelve month low of $0.75 and a twelve month high of $11.41. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -17.30 and a beta of 1.10. The business has a 50 day simple moving average of $6.82 and a 200-day simple moving average of $3.35.

Insider Activity

In related news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $4.21, for a total transaction 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 $4,210,000. This represents a 89.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan E. Baratz sold 8,372 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $44,120.44. Following the transaction, the chief executive officer now owns 2,342,208 shares of the company’s stock, valued at approximately $12,343,436.16. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,152,665 shares of company stock worth $92,096,075. 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.