bLong Financial LLC Buys New Position in D-Wave Quantum Inc. (NYSE:QBTS)

bLong Financial LLC bought a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 22,892 shares of the company’s stock, valued at approximately $192,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kingsview Wealth Management LLC bought a new stake in shares of D-Wave Quantum during the 4th quarter valued at about $84,000. Spire Wealth Management bought a new stake in shares of D-Wave Quantum during the 4th quarter valued at about $90,000. Vontobel Holding Ltd. bought a new stake in shares of D-Wave Quantum during the 4th quarter valued at about $105,000. Sonora Investment Management Group LLC bought a new stake in shares of D-Wave Quantum during the 4th quarter valued at about $135,000. Finally, Strategic Advocates LLC bought a new stake in shares of D-Wave Quantum during the 4th quarter valued at about $148,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Performance

QBTS stock opened at $6.38 on Friday. D-Wave Quantum Inc. has a twelve month low of $0.75 and a twelve month high of $11.41. The stock’s 50 day moving average is $6.59 and its 200-day moving average is $3.15.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, major shareholder Sector Pension Investme Public sold 1,000,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $6.68, for a total transaction of $6,680,000.00. 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 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 $44,120.44. Following the sale, the chief executive officer now directly owns 2,342,208 shares of the company’s stock, valued at $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. Insiders have sold 20,152,665 shares of company stock worth $92,096,075 over the last 90 days. 7.22% of the stock is currently owned by corporate 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.