Cambridge Investment Research Advisors Inc. Has $846,000 Position in D-Wave Quantum Inc. (NYSE:QBTS)

Cambridge Investment Research Advisors Inc. lowered its position in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 41.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,325 shares of the company's stock after selling 78,108 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in D-Wave Quantum were worth $846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Summit Investment Advisors Inc. increased its stake in shares of D-Wave Quantum by 20.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company's stock valued at $87,000 after purchasing an additional 1,766 shares during the period. Invesco Ltd. raised its holdings in D-Wave Quantum by 5.1% during the fourth quarter. Invesco Ltd. now owns 42,619 shares of the company's stock worth $358,000 after purchasing an additional 2,051 shares in the last quarter. Corebridge Financial Inc. raised its holdings in D-Wave Quantum by 5.0% during the fourth quarter. Corebridge Financial Inc. now owns 49,174 shares of the company's stock worth $413,000 after purchasing an additional 2,342 shares in the last quarter. Veracity Capital LLC raised its holdings in D-Wave Quantum by 9.3% during the first quarter. Veracity Capital LLC now owns 29,725 shares of the company's stock worth $226,000 after purchasing an additional 2,532 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in D-Wave Quantum during the fourth quarter worth approximately $26,000. Institutional investors and hedge funds own 42.47% of the company's stock.

Insider Activity

In other D-Wave Quantum news, CEO Alan E. Baratz sold 845,813 shares of D-Wave Quantum stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $17.00, for a total transaction of $14,378,821.00. Following the transaction, the chief executive officer directly owned 2,866,412 shares in the company, valued at approximately $48,729,004. The trade was a 22.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rohit Ghai sold 43,517 shares of D-Wave Quantum 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 transaction, the director owned 57,778 shares in the company, valued at approximately $970,670.40. The trade was a 42.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,636,796 shares of company stock worth $27,872,091. 3.20% of the stock is owned by corporate insiders.

D-Wave Quantum Price Performance

D-Wave Quantum stock traded up $0.08 during mid-day trading on Tuesday, hitting $16.84. The company's stock had a trading volume of 9,515,003 shares, compared to its average volume of 48,033,825. The company has a quick ratio of 20.61, a current ratio of 20.73 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $4.92 billion, a P/E ratio of -28.15 and a beta of 1.40. D-Wave Quantum Inc. has a twelve month low of $0.75 and a twelve month high of $19.77. The stock's fifty day moving average price is $14.27 and its two-hundred day moving average price is $9.48.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on QBTS shares. Roth Capital reissued a "buy" rating on shares of D-Wave Quantum in a report on Friday, June 13th. Benchmark reissued a "buy" rating and set a $20.00 target price (up previously from $14.00) on shares of D-Wave Quantum in a report on Tuesday, June 17th. Williams Trading set a $20.00 target price on D-Wave Quantum in a report on Wednesday, June 18th. Roth Mkm boosted their target price on D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Finally, Cantor Fitzgerald started coverage on shares of D-Wave Quantum in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $20.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $14.38.

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.