D. E. Shaw & Co. Inc. Takes Position in D-Wave Quantum Inc. (NYSE:QBTS)

D. E. Shaw & Co. Inc. bought a new stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 133,324 shares of the company's stock, valued at approximately $1,120,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of D-Wave Quantum by 103.7% in the 4th quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company's stock valued at $59,794,000 after buying an additional 3,624,407 shares during the last quarter. Bank of America Corp DE raised its stake in D-Wave Quantum by 4,912.4% during the 4th quarter. Bank of America Corp DE now owns 2,548,099 shares of the company's stock worth $21,404,000 after buying an additional 2,497,263 shares during the period. UNICOM Systems Inc. acquired a new stake in D-Wave Quantum in the 4th quarter valued at $20,258,000. Geode Capital Management LLC increased its position in shares of D-Wave Quantum by 16.4% during the fourth quarter. Geode Capital Management LLC now owns 2,974,395 shares of the company's stock worth $24,992,000 after acquiring an additional 418,468 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in D-Wave Quantum during the 4th quarter worth approximately $2,087,000. 42.47% of the stock is owned by institutional investors.

Insider Transactions at D-Wave Quantum

In other D-Wave Quantum news, CFO John M. Markovich sold 400,000 shares of D-Wave Quantum stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $17.30, for a total transaction of $6,920,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,577,944 shares in the company, valued at $27,298,431.20. The trade was a 20.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roger Biscay sold 96,521 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $17.86, for a total transaction of $1,723,865.06. Following the completion of the transaction, the director now directly owns 106,626 shares of the company's stock, valued at approximately $1,904,340.36. This represents a 47.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,358,009 shares of company stock valued at $23,282,578. 7.22% of the stock is currently owned by company insiders.

D-Wave Quantum Trading Down 1.5%

Shares of QBTS stock opened at $18.76 on Friday. The stock has a market capitalization of $5.46 billion, a P/E ratio of -44.65 and a beta of 0.90. The firm's 50 day moving average is $8.76 and its 200 day moving average is $6.66. D-Wave Quantum Inc. has a 12 month low of $0.75 and a 12 month high of $19.77.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. The firm had revenue of $15.00 million during the quarter, compared to analysts' expectations of $10.50 million. On average, equities analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Needham & Company LLC increased their target price on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a "buy" rating in a report on Friday, May 9th. B. Riley increased their price objective on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Roth Mkm upped their target price on D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a report on Friday, March 14th. Finally, Benchmark raised their target price on D-Wave Quantum from $8.00 to $14.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $10.17.

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.

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