Jones Financial Companies Lllp Increases Stock Holdings in D-Wave Quantum Inc. $QBTS

Jones Financial Companies Lllp grew its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 61.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,661 shares of the company’s stock after purchasing an additional 39,751 shares during the quarter. Jones Financial Companies Lllp’s holdings in D-Wave Quantum were worth $2,801,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of D-Wave Quantum by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $46,000 after acquiring an additional 482 shares during the period. Blue Bell Private Wealth Management LLC increased its position in D-Wave Quantum by 5.3% in the third quarter. Blue Bell Private Wealth Management LLC now owns 9,901 shares of the company’s stock worth $245,000 after buying an additional 500 shares in the last quarter. bLong Financial LLC raised its stake in shares of D-Wave Quantum by 2.3% in the second quarter. bLong Financial LLC now owns 24,643 shares of the company’s stock worth $361,000 after buying an additional 551 shares during the period. Center for Financial Planning Inc. lifted its position in shares of D-Wave Quantum by 23.6% during the 2nd quarter. Center for Financial Planning Inc. now owns 3,645 shares of the company’s stock valued at $53,000 after buying an additional 695 shares in the last quarter. Finally, CWM LLC raised its stake in D-Wave Quantum by 18.3% during the 3rd quarter. CWM LLC now owns 6,574 shares of the company’s stock worth $162,000 after acquiring an additional 1,018 shares during the period. 42.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $27.36, for a total value of $218,880.00. Following the completion of the transaction, the director owned 27,803 shares in the company, valued at approximately $760,690.08. The trade was a 22.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John M. Markovich sold 9,179 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $28.06, for a total value of $257,562.74. Following the completion of the sale, the chief financial officer owned 1,462,133 shares of the company’s stock, valued at approximately $41,027,451.98. This represents a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 2,346,916 shares of company stock worth $65,591,314. 3.20% of the stock is currently owned by company insiders.

D-Wave Quantum Price Performance

QBTS stock opened at $20.70 on Monday. D-Wave Quantum Inc. has a 52 week low of $4.45 and a 52 week high of $46.75. The firm has a market capitalization of $7.66 billion, a P/E ratio of -15.33 and a beta of 1.56. The company has a fifty day simple moving average of $26.18 and a two-hundred day simple moving average of $24.82. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05.

D-Wave Quantum (NYSE:QBTS) last announced its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The firm had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $3.03 million. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. D-Wave Quantum’s quarterly revenue was up 105.6% compared to the same quarter last year. Analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on QBTS. Wedbush initiated coverage on shares of D-Wave Quantum in a research note on Wednesday, December 17th. They issued an “outperform” rating and a $35.00 price objective for the company. Roth Mkm set a $40.00 price objective on D-Wave Quantum in a research report on Thursday, November 6th. Canaccord Genuity Group set a $43.00 price target on D-Wave Quantum in a report on Thursday, January 29th. Wall Street Zen lowered shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Williams Trading set a $35.00 price objective on shares of D-Wave Quantum in a research report on Monday, November 10th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.21.

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.