Amundi Has $3.39 Million Stock Position in D-Wave Quantum Inc. $QBTS

Key Points

• Amundi reduced its D-Wave Quantum position by 17.9% in the second quarter, selling 30,777 shares and retaining 141,178 shares valued at approximately $3.39 million. Institutional investors collectively own 42.47% of QBTS.
• D-Wave finalized an agreement for up to $100 million from the U.S. Department of Commerce under the CHIPS Act, providing liquidity and support for quantum-computing development, though issuing about 7.1 million shares will dilute existing shareholders.
• The company remains unprofitable after missing quarterly revenue and earnings expectations, while its stock trades at a high valuation. Analysts nevertheless maintain a “Moderate Buy” consensus, with an average price target of $36.27 versus a recent price of $16.80.

Amundi trimmed its position in shares of D-Wave Quantum Inc. (NASDAQ:QBTS - Free Report) by 17.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,178 shares of the company's stock after selling 30,777 shares during the period. Amundi's holdings in D-Wave Quantum were worth $3,387,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fiduciary Financial Advisors acquired a new position in D-Wave Quantum in the second quarter valued at about $25,000. Root Financial Partners LLC raised its stake in shares of D-Wave Quantum by 388.0% in the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company's stock valued at $26,000 after acquiring an additional 776 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of D-Wave Quantum by 545.5% in the 1st quarter. Parallel Advisors LLC now owns 1,788 shares of the company's stock worth $26,000 after acquiring an additional 1,511 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in D-Wave Quantum during the 4th quarter valued at $28,000. Finally, PeakShares LLC bought a new position in D-Wave Quantum in the 1st quarter valued at $29,000. 42.47% of the stock is owned by institutional investors.

Key Stories Impacting D-Wave Quantum

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

• Positive Sentiment: D-Wave finalized a definitive agreement with the U.S. Department of Commerce for up to $100 million under the CHIPS and Science Act. The funding is expected to extend D-Wave’s cash runway, support domestic quantum-computing development, and provide a significant vote of confidence from Washington. D-Wave finalizes Department of Commerce agreement
• Positive Sentiment: The broader government initiative provides up to $300 million in minority equity investments across D-Wave, Rigetti, and Quantinuum. Federal participation could improve D-Wave’s financial position, raise the sector’s profile, and support future customer and commercial adoption. Uncle Sam’s Quantum Leap
• Neutral Sentiment: D-Wave issued approximately 7.1 million shares to the U.S. government as part of the funding arrangement. The capital is favorable for liquidity, but the new shares will dilute existing shareholders. D-Wave issues shares under CHIPS deal
• Neutral Sentiment: Director John DiLullo sold 1,100 shares for $19,800 under a pre-arranged Rule 10b5-1 trading plan. Because the sale was scheduled in advance and represents a relatively small transaction, it provides limited information about management’s current outlook. D-Wave director share sale
• Negative Sentiment: Several law firms announced investigations into potential securities-law violations involving D-Wave. The announcements create headline and litigation risk, although they do not establish wrongdoing. QBTS investigation alert
• Negative Sentiment: D-Wave remains unprofitable, and its latest quarterly revenue of $3.08 million missed expectations while adjusted loss per share was wider than forecast. Its very high valuation and dependence on future quantum-computing growth could continue to pressure the stock if commercial revenue does not accelerate.

Insider Transactions at D-Wave Quantum

In related news, Director Rohit Ghai sold 13,518 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $26.41, for a total transaction of $357,010.38. Following the completion of the transaction, the director directly owned 23,617 shares in the company, valued at approximately $623,724.97. This trade represents a 36.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Sophie Ames sold 3,070 shares of D-Wave Quantum stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $16.95, for a total value of $52,036.50. Following the completion of the sale, the vice president directly owned 589,009 shares in the company, valued at approximately $9,983,702.55. This represents a 0.52% decrease in their position. 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 sold 217,688 shares of company stock valued at $5,570,847 over the last three months. Company insiders own 1.30% of the company's stock.

D-Wave Quantum Trading Up 0.8%

NASDAQ QBTS opened at $16.80 on Friday. D-Wave Quantum Inc. has a one year low of $12.75 and a one year high of $46.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 20.55 and a quick ratio of 20.42. The firm has a market cap of $6.21 billion, a P/E ratio of -23.66 and a beta of 2.15. The stock's 50-day moving average is $18.68 and its 200-day moving average is $19.98.

D-Wave Quantum (NASDAQ:QBTS - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). D-Wave Quantum had a negative return on equity of 26.67% and a negative net margin of 2,001.59%.The company had revenue of $3.08 million for the quarter, compared to analyst estimates of $4.03 million. During the same quarter last year, the business posted ($0.08) earnings per share. The business's quarterly revenue was down 0.6 on a year-over-year basis. Sell-side analysts anticipate that D-Wave Quantum Inc. will post -0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. B. Riley Financial lifted their price target on D-Wave Quantum from $36.00 to $40.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Wall Street Zen raised D-Wave Quantum from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price target on shares of D-Wave Quantum in a research note 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 Friday, August 7th. Finally, Stifel Nicolaus set a $35.00 target price on shares of D-Wave Quantum in a report on Tuesday, June 2nd. Thirteen 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 company's stock. According to data from MarketBeat, D-Wave Quantum presently has a consensus rating of "Moderate Buy" and an average price target of $36.27.

About D-Wave Quantum

D-Wave Quantum Inc develops quantum computing systems, software, and services for commercial, government, and research customers. The company is best known for its quantum annealing technology, which is designed to help solve complex optimization problems involving areas such as logistics, scheduling, manufacturing, artificial intelligence, and financial modeling.

D-Wave also develops gate-model quantum computing technology and provides access to its systems through cloud-based services, including the Leap quantum application environment.

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