43,257 Shares in D-Wave Quantum Inc. $QBTS Acquired by Mutual Advisors LLC

Key Points

• Mutual Advisors LLC bought a new stake of 43,257 shares of D‑Wave (NYSE:QBTS) in Q3 worth about $1.07M, joining several large institutional entrants and bringing total institutional ownership to roughly 42.47%.
• Company insiders have been net sellers recently — directors Rohit Ghai and John D. Dilullo sold 10,000 and 8,000 shares respectively, and insiders sold a total of 2,346,916 shares (≈$65.6M) over the last 90 days, leaving insiders with 3.20% ownership.
• D‑Wave slightly beat the latest quarter's estimates (EPS -$0.05 vs -$0.07; revenue $3.74M vs $3.03M) with revenue up 105.6% year‑over‑year, and analysts hold a Moderate Buy consensus with an average price target of $38.21.

Mutual Advisors LLC purchased a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 43,257 shares of the company's stock, valued at approximately $1,069,000.

Several other large investors also recently modified their holdings of the company. Marex Group plc bought a new position in D-Wave Quantum in the second quarter valued at about $80,070,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of D-Wave Quantum during the 2nd quarter valued at about $45,372,000. State Street Corp lifted its stake in shares of D-Wave Quantum by 41.3% in the 2nd quarter. State Street Corp now owns 6,648,395 shares of the company's stock worth $97,333,000 after purchasing an additional 1,941,762 shares during the period. Geode Capital Management LLC boosted its holdings in shares of D-Wave Quantum by 41.6% in the second quarter. Geode Capital Management LLC now owns 6,411,558 shares of the company's stock worth $93,877,000 after buying an additional 1,883,109 shares during the last quarter. Finally, Man Group plc bought a new stake in D-Wave Quantum during the second quarter valued at approximately $26,535,000. Institutional investors own 42.47% of the company's stock.

Insider Activity at D-Wave Quantum

In other news, Director Rohit Ghai sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $24.28, for a total value of $242,800.00. Following the completion of the sale, the director directly owned 37,778 shares of the company's stock, valued at $917,249.84. This trade represents a 20.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John D. Dilullo sold 8,000 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $27.36, for a total value of $218,880.00. Following the sale, the director owned 27,803 shares in the company, valued at $760,690.08. The trade was a 22.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,346,916 shares of company stock valued at $65,591,314 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

D-Wave Quantum Stock Performance

NYSE QBTS opened at $20.07 on Thursday. 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 Inc. has a twelve month low of $4.45 and a twelve month high of $46.75. The business has a 50-day moving average price of $26.33 and a 200-day moving average price of $24.78. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of -14.87 and a beta of 1.56.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate 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 revenue was up 105.6% compared to the same quarter last year. As a group, equities research analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

QBTS has been the topic of several recent research reports. Cantor Fitzgerald increased their price target on shares of D-Wave Quantum from $20.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, November 7th. Williams Trading set a $35.00 target price on D-Wave Quantum in a research report on Monday, November 10th. Roth Mkm set a $40.00 price target on D-Wave Quantum in a research report on Thursday, November 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $48.00 price objective on shares of D-Wave Quantum in a research note on Thursday, January 29th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of D-Wave Quantum in a research note on Monday, December 29th. Thirteen research 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.

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