D-Wave Quantum Inc. (NYSE:QBTS) Shares Acquired by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors significantly increased its stake in D-Wave Quantum Inc. by 475.8%, acquiring a total of 110,821 shares valued at approximately $842,000 at the end of the latest reporting period.
• Recent reports from analysts have shown a positive outlook for D-Wave Quantum, with several firms raising their target prices to between $13.00 and $20.00 and a consensus rating of "Buy" across ten analysts.
• Insider transactions included the CFO selling 400,000 shares for $6.92 million, indicating a 20.22% decrease in his ownership, alongside other insiders also reducing their holdings.

Arkadios Wealth Advisors raised its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 475.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,821 shares of the company's stock after buying an additional 91,576 shares during the period. Arkadios Wealth Advisors' holdings in D-Wave Quantum were worth $842,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vontobel Holding Ltd. lifted its holdings in shares of D-Wave Quantum by 786.8% in the 1st quarter. Vontobel Holding Ltd. now owns 110,850 shares of the company's stock worth $842,000 after buying an additional 98,350 shares during the period. Vanguard Group Inc. lifted its stake in D-Wave Quantum by 103.7% in the fourth quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company's stock worth $59,794,000 after acquiring an additional 3,624,407 shares during the period. JPMorgan Chase & Co. lifted its stake in D-Wave Quantum by 20.6% in the fourth quarter. JPMorgan Chase & Co. now owns 46,804 shares of the company's stock worth $393,000 after acquiring an additional 8,001 shares during the period. Bank of Montreal Can purchased a new stake in D-Wave Quantum in the fourth quarter worth about $111,000. Finally, Blair William & Co. IL lifted its position in shares of D-Wave Quantum by 29.9% in the 4th quarter. Blair William & Co. IL now owns 27,935 shares of the company's stock worth $235,000 after purchasing an additional 6,435 shares during the period. Hedge funds and other institutional investors own 42.47% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on QBTS. Williams Trading set a $20.00 price target on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Needham & Company LLC upped their target price on D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Rosenblatt Securities assumed coverage on D-Wave Quantum in a report on Tuesday, July 29th. They set a "buy" rating and a $30.00 target price for the company. Roth Capital restated a "buy" rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Finally, Cantor Fitzgerald assumed coverage on D-Wave Quantum in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $20.00 price objective for the company. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum has a consensus rating of "Buy" and an average price target of $16.70.

D-Wave Quantum Stock Up 5.1%

D-Wave Quantum stock traded up $0.83 during midday trading on Monday, reaching $17.21. The company's stock had a trading volume of 32,937,139 shares, compared to its average volume of 44,543,720. The stock's 50-day simple moving average is $16.70 and its 200-day simple moving average is $10.77. The company has a current ratio of 20.73, a quick ratio of 20.61 and a debt-to-equity ratio of 0.15. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $20.56.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. D-Wave Quantum had a negative return on equity of 227.95% and a negative net margin of 617.84%. The firm had revenue of $15.00 million for the quarter, compared to the consensus estimate of $10.50 million. As a group, equities analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Activity

In related news, Director Roger Biscay sold 106,626 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.85, for a total value of $1,796,648.10. Following the transaction, the director owned 14,260 shares in the company, valued at approximately $240,281. This represents a 88.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John D. Dilullo sold 15,000 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $16.40, for a total transaction of $246,000.00. Following the completion of the transaction, the director owned 44,295 shares in the company, valued at approximately $726,438. This trade represents a 25.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,636,796 shares of company stock valued at $27,872,091. 3.20% of the stock is owned by insiders.

D-Wave Quantum 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.