Charles Schwab Investment Management Inc. Grows Holdings in D-Wave Quantum Inc. $QBTS

Key Points

• Charles Schwab Investment Management Inc. increased its stake in D-Wave Quantum Inc. by 69.6% during the first quarter, owning approximately 0.19% of the company worth $4.14 million.
• D-Wave Quantum's stock is currently trading at $15.64, down 1.8%, with the company reporting a 40.9% year-over-year increase in revenue for the last quarter, despite an earnings miss.
• Analysts have mixed views on D-Wave Quantum, with target price estimates ranging from $13.00 to $26.00 and a consensus rating of "Buy".

Charles Schwab Investment Management Inc. raised its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 69.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 544,956 shares of the company's stock after acquiring an additional 223,672 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.19% of D-Wave Quantum worth $4,142,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QBTS. JPMorgan Chase & Co. increased its position in shares of D-Wave Quantum by 20.6% during the fourth quarter. JPMorgan Chase & Co. now owns 46,804 shares of the company's stock valued at $393,000 after acquiring an additional 8,001 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of D-Wave Quantum in the fourth quarter valued at approximately $264,000. Invesco Ltd. grew its holdings in shares of D-Wave Quantum by 5.1% in the fourth quarter. Invesco Ltd. now owns 42,619 shares of the company's stock valued at $358,000 after purchasing an additional 2,051 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of D-Wave Quantum in the fourth quarter valued at approximately $2,087,000. Finally, Barclays PLC grew its holdings in shares of D-Wave Quantum by 27.6% in the fourth quarter. Barclays PLC now owns 153,102 shares of the company's stock valued at $1,285,000 after purchasing an additional 33,073 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. B. Riley lifted their price objective on shares of D-Wave Quantum from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Piper Sandler lifted their price objective on shares of D-Wave Quantum from $13.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Wall Street Zen cut shares of D-Wave Quantum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Rosenblatt Securities began coverage on shares of D-Wave Quantum in a report on Tuesday, July 29th. They issued a "buy" rating and a $30.00 price objective for the company. Finally, Cantor Fitzgerald started coverage on shares of D-Wave Quantum in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $20.00 price target for the company. Eleven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, D-Wave Quantum presently has an average rating of "Buy" and an average price target of $19.27.

D-Wave Quantum Stock Down 1.8%

Shares of QBTS traded down $0.29 during midday trading on Monday, reaching $15.64. The stock had a trading volume of 19,965,373 shares, compared to its average volume of 37,499,780. D-Wave Quantum Inc. has a 1-year low of $0.80 and a 1-year high of $20.56. The company's fifty day simple moving average is $16.62 and its two-hundred day simple moving average is $12.27. The company has a market cap of $5.35 billion, a price-to-earnings ratio of -14.89 and a beta of 1.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 42.99 and a quick ratio of 42.86.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings data 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). D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The firm had revenue of $3.10 million during the quarter, compared to analyst estimates of $2.55 million. The business's revenue for the quarter was up 40.9% on a year-over-year basis. Equities research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Buying and Selling at D-Wave Quantum

In other news, Director Roger Biscay sold 106,626 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.85, for a total transaction of $1,796,648.10. Following the completion of the sale, the director owned 14,260 shares in the company, valued at approximately $240,281. The trade was 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 Rohit Ghai sold 43,517 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.80, for a total transaction of $731,085.60. Following the sale, the director owned 57,778 shares of the company's stock, valued at $970,670.40. This represents a 42.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 378,787 shares of company stock worth $6,389,513. 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.