Atria Wealth Solutions Inc. Has $227,000 Stock Holdings in D-Wave Quantum Inc. $QBTS

Atria Wealth Solutions Inc. lessened its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 9.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,506 shares of the company’s stock after selling 1,600 shares during the period. Atria Wealth Solutions Inc.’s holdings in D-Wave Quantum were worth $227,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Reyes Financial Architecture Inc. acquired a new stake in D-Wave Quantum during the second quarter valued at $29,000. Parallel Advisors LLC boosted its position in D-Wave Quantum by 227.3% during the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock valued at $32,000 after purchasing an additional 1,532 shares during the last quarter. Russell Investments Group Ltd. boosted its position in D-Wave Quantum by 133.9% during the first quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock valued at $42,000 after purchasing an additional 3,165 shares during the last quarter. Signaturefd LLC boosted its position in D-Wave Quantum by 106.1% during the first quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock valued at $44,000 after purchasing an additional 2,971 shares during the last quarter. Finally, Amalgamated Bank boosted its position in D-Wave Quantum by 107.8% during the first quarter. Amalgamated Bank now owns 6,296 shares of the company’s stock valued at $48,000 after purchasing an additional 3,266 shares during the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

D-Wave Quantum Stock Down 15.4%

NYSE QBTS opened at $27.24 on Thursday. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average is $24.10 and its two-hundred day moving average is $17.34. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of -25.94 and a beta of 1.49. D-Wave Quantum Inc. has a 1-year low of $0.98 and a 1-year high of $46.75.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The firm had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.55 million. The firm’s revenue was up 40.9% compared to the same quarter last year. Equities analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

QBTS has been the subject of a number of analyst reports. Rosenblatt Securities initiated coverage on D-Wave Quantum in a research report on Tuesday, July 29th. They issued a “buy” rating and a $30.00 price target for the company. Piper Sandler boosted their price target on D-Wave Quantum from $13.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Zacks Research cut D-Wave Quantum from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Needham & Company LLC reaffirmed a “buy” rating on shares of D-Wave Quantum in a research report on Monday, August 4th. Finally, B. Riley boosted their price target on D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.27.

Insider Activity at D-Wave Quantum

In other news, CFO John M. Markovich sold 100,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $18.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,558,753 shares in the company, valued at $28,057,554. This represents a 6.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Alan E. Baratz sold 31,369 shares of the stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $43.74, for a total transaction of $1,372,080.06. Following the transaction, the chief executive officer owned 2,801,265 shares of the company’s stock, valued at approximately $122,527,331.10. This represents a 1.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 207,363 shares of company stock valued at $4,659,478 in the last quarter. 3.20% of the stock is currently owned by company insiders.

D-Wave Quantum Company 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.