D-Wave Quantum (NYSE:QBTS) CEO Alan Baratz Sells 793,712 Shares

Key Points

• CEO Alan Baratz sold 793,712 shares on Dec. 22 at an average price of $30.13 for about $23.9 million, reducing his stake by 23.16% to 2,633,163 shares valued near $79.3 million.
• D-Wave's fundamentals show growing but small revenue—$3.74 million for the quarter (up 105.6% YoY)—while the company still posts steep negative margins and a negative PE, with a market cap around $10.2 billion and recent trading near $29.08.
• Analyst and market sentiment is cautiously bullish: consensus is a “Moderate Buy” with a $33.67 target, several firms raised price targets or initiated coverage, and news of a CES 2026 commercialization showcase helped trigger a recent stock rally and increased institutional interest.

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) CEO Alan Baratz sold 793,712 shares of D-Wave Quantum stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $30.13, for a total value of $23,914,542.56. Following the transaction, the chief executive officer directly owned 2,633,163 shares in the company, valued at approximately $79,337,201.19. The trade was a 23.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

D-Wave Quantum Price Performance

NYSE QBTS traded down $3.11 on Tuesday, reaching $29.08. The company's stock had a trading volume of 44,509,985 shares, compared to its average volume of 60,531,824. D-Wave Quantum Inc. has a twelve month low of $3.74 and a twelve month high of $46.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68. The stock has a market cap of $10.18 billion, a PE ratio of -21.54 and a beta of 1.57. The firm's 50 day moving average is $28.47 and its two-hundred day moving average is $22.46.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. The business had revenue of $3.74 million during the quarter, compared to analyst estimates of $3.03 million. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.D-Wave Quantum's quarterly revenue was up 105.6% on a year-over-year basis. As a group, sell-side analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on QBTS. Wall Street Zen lowered shares of D-Wave Quantum from a "hold" rating to a "sell" rating in a research report on Saturday. Cantor Fitzgerald upped their price objective on shares of D-Wave Quantum from $20.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, November 7th. Mizuho assumed coverage on shares of D-Wave Quantum in a research note on Thursday, December 11th. They set an "outperform" rating and a $46.00 target price for the company. Evercore ISI began coverage on shares of D-Wave Quantum in a research note on Wednesday, December 3rd. They issued an "outperform" rating and a $44.00 price target on the stock. Finally, Williams Trading set a $35.00 price objective on D-Wave Quantum in a report on Monday, November 10th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.67.

Institutional Investors Weigh In On D-Wave Quantum

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in D-Wave Quantum by 69.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 544,956 shares of the company's stock valued at $4,142,000 after purchasing an additional 223,672 shares during the last quarter. Invesco Ltd. lifted its stake in shares of D-Wave Quantum by 123.2% in the first quarter. Invesco Ltd. now owns 95,121 shares of the company's stock worth $723,000 after buying an additional 52,502 shares during the last quarter. Nuveen LLC bought a new stake in shares of D-Wave Quantum during the 1st quarter worth $4,562,000. HighTower Advisors LLC acquired a new position in D-Wave Quantum in the 1st quarter valued at $507,000. Finally, Russell Investments Group Ltd. grew its stake in D-Wave Quantum by 133.9% in the 1st quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company's stock valued at $42,000 after buying an additional 3,165 shares during the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

D-Wave Quantum News Summary

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: D-Wave announced it will bring commercial quantum demonstrations and customer success stories to CES 2026 — a high-visibility showcase that markets commercialization progress and can accelerate enterprise interest. D-Wave to Bring Commercial Quantum Computing to CES 2026
• Positive Sentiment: Media coverage links the CES reveal to an immediate rally: outlets report the stock jumped after the CES plans, highlighting investor hopes for near-term commercial wins. D-Wave Quantum Jumps After Announcing CES 2026 Commercial Technology Showcase
• Positive Sentiment: Wall Street and institutional interest increased in 2025 (several brokerages initiated coverage), and reports of hedge-fund accumulation are reinforcing confidence that professional money is backing the story. Wall Street Discovered Quantum Computing Stocks In 2025
• Positive Sentiment: Retail-driven year-end momentum (a “Santa Rally” in quantum names) is lifting QBTS alongside peers, amplifying short-term upside. D-Wave, Rigetti, IonQ Stocks Climb In Retail-Fueled Santa Rally
• Neutral Sentiment: Analyst pieces frame 2026 as a potential breakout year if commercialization continues, but they note revenue remains small vs. valuation — a conditional bullish view that depends on execution. Why 2026 Could Be the Year D-Wave Breaks Out
• Neutral Sentiment: Industry analyses compare quantum plays to Nvidia’s AI run — suggesting potential playbook parallels but noting different market dynamics and longer commercialization timelines. Quantum Stocks 2026: Can IONQ & QBTS Follow NVDA's Playbook?
• Negative Sentiment: Fundamental risks remain: quarterly revenue is growing but still small in absolute dollars, and the stock’s valuation and reliance on continued execution make it vulnerable to pullbacks if commercialization stalls. Why 2026 Could Be the Year D-Wave Breaks Out
• Negative Sentiment: Heavy retail participation and thin institutional trading around the holidays increase volatility risk — spikes can reverse quickly once professionals re-enter the market. D-Wave, Rigetti, IonQ Stocks Climb In Retail-Fueled Santa Rally

D-Wave Quantum Company Profile

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.

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