D-Wave Quantum Inc. (NYSE:QBTS) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. increased its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 786.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,850 shares of the company's stock after purchasing an additional 98,350 shares during the period. Vontobel Holding Ltd.'s holdings in D-Wave Quantum were worth $842,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of QBTS. Summit Investment Advisors Inc. raised its holdings in D-Wave Quantum by 20.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company's stock valued at $87,000 after acquiring an additional 1,766 shares during the last quarter. Invesco Ltd. raised its holdings in D-Wave Quantum by 5.1% in the 4th quarter. Invesco Ltd. now owns 42,619 shares of the company's stock valued at $358,000 after acquiring an additional 2,051 shares during the last quarter. Corebridge Financial Inc. raised its holdings in D-Wave Quantum by 5.0% in the 4th quarter. Corebridge Financial Inc. now owns 49,174 shares of the company's stock valued at $413,000 after acquiring an additional 2,342 shares during the last quarter. Veracity Capital LLC grew its stake in shares of D-Wave Quantum by 9.3% during the 1st quarter. Veracity Capital LLC now owns 29,725 shares of the company's stock valued at $226,000 after buying an additional 2,532 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of D-Wave Quantum during the 4th quarter valued at $26,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

D-Wave Quantum Stock Up 1.9%

D-Wave Quantum stock traded up $0.31 during trading on Wednesday, reaching $16.30. 39,061,752 shares of the company's stock were exchanged, compared to its average volume of 48,435,433. The company's 50-day moving average is $14.64 and its two-hundred day moving average is $9.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 20.61 and a current ratio of 20.73. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $19.77. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of -27.17 and a beta of 1.40.

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 for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $10.50 million. On average, analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on QBTS shares. B. Riley reissued a "buy" rating and set a $20.00 price objective (up from $13.00) on shares of D-Wave Quantum in a research note on Wednesday, June 18th. Needham & Company LLC boosted their price objective on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a research note on Wednesday, June 18th. Cantor Fitzgerald started coverage on shares of 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. Finally, Roth Capital reissued a "buy" rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $14.38.

Insider Buying and Selling

In other D-Wave Quantum news, Director Rohit Ghai sold 43,517 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.80, for a total value of $731,085.60. Following the completion of the transaction, the director directly owned 57,778 shares of the company's stock, valued at $970,670.40. This represents a 42.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John M. Markovich sold 400,000 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer directly owned 1,577,944 shares of the company's stock, valued at approximately $27,298,431.20. The trade was a 20.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,636,796 shares of company stock worth $27,872,091 over the last quarter. Company insiders own 3.20% of the company's stock.

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.