Curbstone Financial Management Corp Increases Stock Holdings in D-Wave Quantum Inc. $QBTS

Curbstone Financial Management Corp raised its position in shares of D-Wave Quantum Inc. (NYSE:QBTSFree Report) by 19.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,800 shares of the company’s stock after purchasing an additional 3,800 shares during the quarter. Curbstone Financial Management Corp’s holdings in D-Wave Quantum were worth $348,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Reyes Financial Architecture Inc. purchased a new position in shares of D-Wave Quantum in the second quarter worth approximately $29,000. Parallel Advisors LLC raised its position in D-Wave Quantum by 227.3% in the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock worth $32,000 after acquiring an additional 1,532 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of D-Wave Quantum by 133.9% during the 1st quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock worth $42,000 after acquiring an additional 3,165 shares during the last quarter. Signaturefd LLC grew its position in shares of D-Wave Quantum by 106.1% during the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock valued at $44,000 after acquiring an additional 2,971 shares during the period. Finally, Amalgamated Bank increased its stake in shares of D-Wave Quantum by 107.8% in the 1st quarter. Amalgamated Bank now owns 6,296 shares of the company’s stock worth $48,000 after purchasing an additional 3,266 shares in the last quarter. Institutional investors own 42.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on QBTS shares. Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of D-Wave Quantum in a research report on Monday, August 4th. Rosenblatt Securities started coverage on D-Wave Quantum in a research report on Tuesday, July 29th. They set a “buy” rating and a $30.00 price objective on the stock. B. Riley boosted their price objective on D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Roth Capital restated a “buy” rating on shares of D-Wave Quantum in a research note on Wednesday. Finally, Canaccord Genuity Group began coverage on shares of D-Wave Quantum in a research report on Wednesday, July 23rd. They issued a “buy” rating and a $20.00 price target for the company. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.27.

Read Our Latest Report on D-Wave Quantum

D-Wave Quantum Stock Down 5.5%

Shares of QBTS opened at $38.22 on Friday. The business’s 50 day moving average is $23.32 and its 200 day moving average is $16.91. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a 12-month low of $0.98 and a 12-month high of $46.75. The company has a market capitalization of $13.07 billion, a PE ratio of -36.40 and a beta of 1.49.

D-Wave Quantum (NYSE:QBTSGet Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The company had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $2.55 million. D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The firm’s quarterly revenue was up 40.9% on a year-over-year basis. Research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Activity at D-Wave Quantum

In other D-Wave Quantum news, Director Rohit Ghai sold 10,000 shares of D-Wave Quantum stock in a transaction on Monday, September 15th. The shares were sold at an average price of $17.93, for a total value of $179,300.00. Following the sale, the director directly owned 47,778 shares in the company, valued at approximately $856,659.54. The trade was a 17.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John M. Markovich sold 7,994 shares of the stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $43.74, for a total transaction of $349,657.56. Following the transaction, the chief financial officer directly owned 1,580,934 shares of the company’s stock, valued at $69,150,053.16. This trade represents a 0.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 207,363 shares of company stock valued at $4,659,478. 3.20% of the stock is currently owned by insiders.

D-Wave Quantum Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for D-Wave Quantum (NYSE:QBTS)

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