From Quantum to Clothing: Insider Trades Hit 3 Big Names

Key Points

• Insider sales are on the rise at a top quantum stock expected to receive $100 million in government funding.
• One of the largest names in semiconductor equipment is also seeing a spike in insider sales, with shares up 125% in 2026.
• Markets have crushed one clothing stock, but insiders are showing support through recent purchases.

From quantum computing to artificial intelligence to clothing, company insiders are making moves in three key names. This includes sales of a quantum stock that recently popped 50% in two days and a semiconductor industry behemoth posting big-time returns. Meanwhile, insiders are purchasing a clothing stock that has experienced a dramatic fall from grace.

D-Wave Sales Soar After the Government Backs Quantum

D-Wave Quantum NYSE: QBTS is one of the more well-known pure-play quantum computing stocks. Through mid-May, the market had hit D-Wave shares hard in 2026, bringing them down approximately 30%. However, shares then experienced a huge rebound, rising around 52% in two days.

This came after the U.S. Department of Commerce announced its intention to provide over $2 billion in funding to several quantum companies. Notably, D-Wave made the list, with the company expected to receive $100 million in funding. This would add to D-Wave’s already solid liquidity position, with the firm having $588.4 million in cash and marketable investments last quarter.

However, it is worth noting that insider sales at D-Wave also spiked afterward. Overall, MarketBeat has tracked $36 million in sales during Q2, compared to less than $2 million in Q1. The vast majority of these sales came after the announcement that sent shares soaring. Additionally, a large portion of these sales did not come under pre-determined 10b5-1 plans, indicating that they were discretionary. Sellers included high-up individuals at D-Wave, such as CEO Alan Baratz and Chief Financial Officer John Markovich.

Still, Baratz continues to own more than 3 million D-Wave shares, while Markovich owns more than 1 million shares. Overall, these sales are a moderately bearish indicator for D-Wave, given the large spike that coincided with the rise in shares.

Applied Materials Insiders Sell Following Huge 2026 Gains

Next up is one of the giants of the semiconductor manufacturing equipment industry, Applied Materials NASDAQ: AMAT. Along with many of the other players in this space, Applied Materials has seen its share price absolutely take off. After delivering a total return near 60% in 2025, Applied Materials' gain is now hovering near 125% in 2026. Shortages across the artificial intelligence chip industry are driving much of the stock’s performance. This includes memory chips and advanced packaging.

Due to this, manufacturers are working to expand their production capacity, requiring more of Applied’s equipment. The firm expects to grow its semiconductor equipment business by over 30% in calendar year 2026, while customers are also signaling strong demand beyond that.

On the other hand, insider sales have also moved up in a big way during Q2. MarketBeat has tracked $114 million in sales, compared to less than $5 million in Q1. Additionally, more than five individual insiders made these Q2 sales, and none came under a 10b5-1 plan.

While this shows many insiders doing something similar at once, the sales also tended to be rather small in relation to their total holdings. For example, CEO Gary Dickerson sold more than 80,000 shares but still holds more than 1.6 million shares.

In aggregate, Applied Materials' recent insider trades are a mildly bearish signal, but don’t take away too much from the company’s strong underlying position.

Lululemon Insiders Buy Again as Shares Continue to Plummet

For lululemon athletica NASDAQ: LULU, the carnage in its share price has not let up in 2026. After dropping 25% in 2024 and 46% in 2025, shares are down nearly 50% this year. Overall, the stock is down almost 80% from its all-time high reached in 2023. During this period, lululemon has experienced a drastic decline in its sales growth.

In 2023, the company grew revenues by 19% year-over-year (YOY). In 2025, that growth rate declined to just 5% YOY.

The company expects this trend to worsen in 2026, forecasting flat to -1% growth YOY. In its latest report, lululemon noted that negative media commentary around its brand and underperforming product launches has hurt growth.

Amid this, some insiders are picking up the slack in shares. In Q1, insider purchases came in at $1 million, while Q2 saw insider buys worth $995,000.

At the same time, MarketBeat tracked no insider sales in Q1 and just $100,000 in sales in Q2.

Overall, these insider trades are a moderately bullish indicator for the stock, demonstrating that insiders see value in shares. Notably, lululemon now trades at a forward price-to-earnings ratio of around 10x, far below its 31x average over the past three years. Despite this, until the company can stop the bleeding in its growth rate, it may be difficult for LULU to stage a strong rebound.

Analysts Point to Strong Upside in D-Wave Amid Government Support

Despite D-Wave’s recent insider sales, Wall Street analysts continue to show a lot of support for the stock. The MarketBeat consensus price target sits at $36.80, implying upside of more than 45%. While D-Wave may not necessarily need the government funding due to its cash position, the move signals real government support for the quantum industry. Given the extended timeline of creating a fault-tolerant quantum computer, this is a clear positive for the industry’s long-term outlook.