SBI Securities Co. Ltd. Takes $1.65 Million Position in D-Wave Quantum Inc. (NYSE:QBTS)

SBI Securities Co. Ltd. purchased a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 196,764 shares of the company’s stock, valued at approximately $1,653,000. SBI Securities Co. Ltd. owned about 0.07% of D-Wave Quantum as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Kingsview Wealth Management LLC bought a new position in D-Wave Quantum during the 4th quarter worth approximately $84,000. Spire Wealth Management acquired a new stake in shares of D-Wave Quantum during the 4th quarter valued at approximately $90,000. Vontobel Holding Ltd. bought a new position in D-Wave Quantum during the fourth quarter worth $105,000. Truist Financial Corp acquired a new position in D-Wave Quantum in the fourth quarter worth $108,000. Finally, Barclays PLC increased its stake in D-Wave Quantum by 298.3% during the third quarter. Barclays PLC now owns 120,029 shares of the company’s stock valued at $117,000 after purchasing an additional 89,894 shares during the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at D-Wave Quantum

In other D-Wave Quantum news, 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 stock was 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 directly owns 30,000,000 shares in the company, valued at $122,100,000. This represents a 19.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction 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 transaction, the chief executive officer now owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,152,665 shares of company stock worth $92,096,075 in the last 90 days. Corporate insiders own 7.22% of the company’s stock.

D-Wave Quantum Stock Performance

Shares of QBTS opened at $5.49 on Monday. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $11.41. The stock’s fifty day moving average is $6.66 and its 200-day moving average is $3.56. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -13.07 and a beta of 1.10.

Analyst Ratings Changes

QBTS has been the topic of a number of recent research reports. Craig Hallum raised their price target on shares of 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 reiterated a “buy” rating and set a $2.25 price target on shares of D-Wave Quantum in a research report on Friday, November 15th. Roth Mkm boosted their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. 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 research report on Friday, February 14th. Finally, Benchmark reiterated a “buy” rating and issued a $8.00 price objective on shares of D-Wave Quantum in a research report on Tuesday, January 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, D-Wave Quantum presently has a consensus rating of “Buy” and a consensus target price of $6.71.

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.