D-Wave Quantum Inc. (NYSE:QBTS) Stock Position Raised by Cetera Investment Advisers

Cetera Investment Advisers raised its holdings in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 604.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,119 shares of the company's stock after buying an additional 113,374 shares during the quarter. Cetera Investment Advisers' holdings in D-Wave Quantum were worth $1,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Summit Investment Advisors Inc. grew its position in D-Wave Quantum by 20.6% during the fourth 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 period. Invesco Ltd. lifted its stake in shares of 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 purchasing an additional 2,051 shares in the last quarter. Corebridge Financial Inc. increased its position in D-Wave Quantum by 5.0% during the 4th 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. Steward Partners Investment Advisory LLC raised its holdings in D-Wave Quantum by 38.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,060 shares of the company's stock valued at $110,000 after buying an additional 3,660 shares during the period. Finally, PNC Financial Services Group Inc. purchased a new position in D-Wave Quantum in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 42.47% of the company's stock.

Analysts Set New Price Targets

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

D-Wave Quantum Price Performance

QBTS traded down $0.29 during trading hours on Friday, reaching $18.76. 148,422,253 shares of the stock traded hands, compared to its average volume of 42,295,348. D-Wave Quantum Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $19.77. The company has a market cap of $5.46 billion, a price-to-earnings ratio of -44.65 and a beta of 0.90. The firm's fifty day simple moving average is $8.76 and its two-hundred day simple moving average is $6.66.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The business had revenue of $15.00 million for the quarter, compared to analyst estimates of $10.50 million. On average, research analysts predict 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 15,675 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $16.58, for a total transaction of $259,891.50. Following the completion of the transaction, the director now directly owns 203,147 shares in the company, valued at approximately $3,368,177.26. This represents a 7.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO John M. Markovich sold 400,000 shares of D-Wave Quantum stock in a transaction on Wednesday, May 21st. The stock was 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 owns 1,577,944 shares of the company's stock, valued at approximately $27,298,431.20. This trade represents a 20.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,358,009 shares of company stock worth $23,282,578 in the last 90 days. 7.22% of the stock is owned by corporate insiders.

About D-Wave Quantum

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.