D-Wave Quantum Inc. $QBTS Shares Sold by Arete Wealth Advisors LLC

Key Points

• Arete Wealth Advisors LLC significantly reduced its stake in D-Wave Quantum Inc. by 93.6%, now holding 14,671 shares valued at $112,000 after selling over 213,000 shares.
• Several other institutional investors, including NewEdge Advisors and MIRAE ASSET GLOBAL ETFS HOLDINGS, have increased their stakes in D-Wave Quantum during the same period, highlighting shifting investor interest.
• Amid recent insider trades, CFO John M. Markovich sold 100,000 shares for $1.8 million, indicating a 6.03% decrease in his ownership, while analysts maintain a consensus rating of "Buy" with a price target around $19.27.

Arete Wealth Advisors LLC lessened its position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 93.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,671 shares of the company's stock after selling 213,127 shares during the quarter. Arete Wealth Advisors LLC's holdings in D-Wave Quantum were worth $112,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. bLong Financial LLC raised its stake in shares of D-Wave Quantum by 5.2% during the 1st quarter. bLong Financial LLC now owns 24,092 shares of the company's stock worth $183,000 after acquiring an additional 1,200 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of D-Wave Quantum by 12.0% during the 1st quarter. Baird Financial Group Inc. now owns 12,135 shares of the company's stock worth $92,000 after acquiring an additional 1,300 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of D-Wave Quantum by 5.8% during the 1st quarter. Victory Capital Management Inc. now owns 31,097 shares of the company's stock worth $236,000 after acquiring an additional 1,698 shares in the last quarter. XTX Topco Ltd raised its stake in shares of D-Wave Quantum by 3.4% during the 1st quarter. XTX Topco Ltd now owns 65,799 shares of the company's stock worth $500,000 after acquiring an additional 2,159 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of D-Wave Quantum by 9.0% during the 1st quarter. Blair William & Co. IL now owns 30,438 shares of the company's stock worth $231,000 after acquiring an additional 2,503 shares in the last quarter. Institutional investors own 42.47% of the company's stock.

D-Wave Quantum Stock Performance

Shares of NYSE:QBTS traded up $1.27 on Friday, reaching $17.79. 59,469,749 shares of the company were exchanged, compared to its average volume of 28,506,484. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. D-Wave Quantum Inc. has a 1-year low of $0.87 and a 1-year high of $20.56. The company has a 50-day moving average of $16.76 and a 200-day moving average of $12.76.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). The company had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.55 million. D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The firm's revenue was up 40.9% on a year-over-year basis. Equities research analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on QBTS shares. Canaccord Genuity Group began coverage on shares of D-Wave Quantum in a research report on Wednesday, July 23rd. They set a "buy" rating and a $20.00 target price on the stock. Benchmark reiterated a "buy" rating and issued a $20.00 target price on shares of D-Wave Quantum in a research report on Monday, August 4th. Cantor Fitzgerald initiated coverage on shares of D-Wave Quantum in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $20.00 price objective for the company. B. Riley lifted their price target on shares of D-Wave Quantum from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Eleven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, D-Wave Quantum has an average rating of "Buy" and a consensus price target of $19.27.

Insider Activity at D-Wave Quantum

In related news, Director Kirstjen Nielsen sold 13,000 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $16.04, for a total value of $208,520.00. Following the sale, the director directly owned 119,673 shares of the company's stock, valued at approximately $1,919,554.92. This represents a 9.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John M. Markovich sold 50,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $16.30, for a total transaction of $815,000.00. Following the sale, the chief financial officer directly owned 1,599,511 shares in the company, valued at $26,072,029.30. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,000 shares of company stock valued at $3,069,520. Insiders own 3.20% of the company's stock.

D-Wave Quantum Company Profile

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.