Headlands Technologies LLC Takes Position in D-Wave Quantum Inc. $QBTS

Headlands Technologies LLC acquired a new stake in D-Wave Quantum Inc. (NASDAQ:QBTS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 35,589 shares of the company’s stock, valued at approximately $854,000.

Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in D-Wave Quantum during the second quarter worth about $795,206,000. UBS Group AG raised its position in shares of D-Wave Quantum by 541.6% during the third quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock worth $298,737,000 after purchasing an additional 10,205,427 shares during the period. Bank of America Corp DE acquired a new stake in shares of D-Wave Quantum during the second quarter worth about $104,183,000. Northwestern Mutual Wealth Management Co. raised its position in shares of D-Wave Quantum by 136,842.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,194,866 shares of the company’s stock worth $83,546,000 after purchasing an additional 3,192,533 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of D-Wave Quantum by 311.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,548,013 shares of the company’s stock valued at $92,781,000 after purchasing an additional 2,685,980 shares in the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

Insiders Place Their Bets

In other D-Wave Quantum news, CEO Alan E. Baratz sold 687,627 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $26.13, for a total transaction of $17,967,693.51. Following the sale, the chief executive officer directly owned 3,299,771 shares of the company’s stock, valued at $86,223,016.23. The trade was a 17.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Sophie C. Ames sold 3,070 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $16.95, for a total transaction of $52,036.50. Following the transaction, the vice president owned 589,009 shares of the company’s stock, valued at approximately $9,983,702.55. This represents a 0.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,009,157 shares of company stock valued at $26,155,555 in the last quarter. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

QBTS has been the subject of several research analyst reports. Mizuho boosted their price objective on D-Wave Quantum from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Jefferies Financial Group set a $40.00 target price on shares of D-Wave Quantum in a report on Friday, August 7th. Zacks Research lowered shares of D-Wave Quantum from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 price target on shares of D-Wave Quantum in a report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, D-Wave Quantum currently has an average rating of “Moderate Buy” and an average price target of $36.27.

D-Wave Quantum Price Performance

Shares of QBTS opened at $16.54 on Wednesday. The stock has a market capitalization of $6.12 billion, a P/E ratio of -23.30 and a beta of 2.15. D-Wave Quantum Inc. has a twelve month low of $12.75 and a twelve month high of $46.75. The company has a 50 day moving average of $19.67 and a 200-day moving average of $20.11. The company has a quick ratio of 20.42, a current ratio of 20.55 and a debt-to-equity ratio of 0.03.

D-Wave Quantum (NASDAQ:QBTS) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The business had revenue of $3.08 million during the quarter, compared to the consensus estimate of $4.03 million. D-Wave Quantum had a negative return on equity of 26.67% and a negative net margin of 2,001.59%.The business’s revenue for the quarter was down 0.6 compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. As a group, equities research analysts forecast that D-Wave Quantum Inc. will post -0.46 EPS for the current fiscal year.

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.