Insider Selling: D-Wave Quantum (NYSE:QBTS) Director Sells 7,850 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director John Dilullo sold 7,850 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $24.43, for a total transaction of $191,775.50. Following the completion of the transaction, the director owned 21,310 shares of the company’s stock, valued at approximately $520,603.30. The trade was a 26.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D-Wave Quantum Price Performance

Shares of QBTS traded up $1.89 during mid-day trading on Monday, reaching $25.74. The stock had a trading volume of 28,940,332 shares, compared to its average volume of 32,467,918. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of -22.78 and a beta of 2.05. D-Wave Quantum Inc. has a 12 month low of $12.75 and a 12 month high of $46.75. The business has a fifty day moving average of $20.70 and a 200 day moving average of $22.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $2.86 million during the quarter, compared to analyst estimates of $4.19 million. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The company’s revenue was down 80.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) earnings per share. Equities analysts predict that D-Wave Quantum Inc. will post -0.43 EPS for the current year.

Hedge Funds Weigh In On D-Wave Quantum

Several institutional investors have recently bought and sold shares of QBTS. Vanguard Group Inc. lifted its position in D-Wave Quantum by 41.2% during the third quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company’s stock valued at $950,220,000 after purchasing an additional 11,218,255 shares during the last quarter. UBS Group AG raised its stake in shares of D-Wave Quantum by 541.6% in the third quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock valued at $298,737,000 after acquiring an additional 10,205,427 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of D-Wave Quantum by 136,842.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,194,866 shares of the company’s stock valued at $83,546,000 after acquiring an additional 3,192,533 shares during the period. Clear Street Group Inc. purchased a new stake in shares of D-Wave Quantum in the third quarter valued at $75,344,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of D-Wave Quantum by 311.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,548,013 shares of the company’s stock valued at $92,781,000 after acquiring an additional 2,685,980 shares during the period. Institutional investors own 42.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on QBTS shares. Jefferies Financial Group reiterated a “buy” rating on shares of D-Wave Quantum in a research report on Tuesday, May 12th. Mizuho dropped their target price on shares of D-Wave Quantum from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of D-Wave Quantum in a research report on Tuesday, June 2nd. Rosenblatt Securities restated a “buy” rating and set a $43.00 target price on shares of D-Wave Quantum in a research report on Tuesday, June 2nd. Finally, Weiss Ratings lowered shares of D-Wave Quantum from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.40.

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.