D-Wave Quantum Inc. $QBTS Shares Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG significantly increased its holdings in D-Wave Quantum by 103.6% in the first quarter, owning approximately 150,509 shares valued at $1,144,000.
• Multiple hedge funds, including JPMorgan Chase and Envestnet Asset Management, have also made increases in their investments in D-Wave Quantum during the fourth quarter.
• D-Wave Quantum's recent earnings report showed a revenue increase of 40.9% year-over-year, though it reported a loss of ($0.08) per share, missing analysts' expectations.

Deutsche Bank AG boosted its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 103.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,509 shares of the company's stock after acquiring an additional 76,603 shares during the quarter. Deutsche Bank AG owned about 0.05% of D-Wave Quantum worth $1,144,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QBTS. JPMorgan Chase & Co. increased its stake in D-Wave Quantum by 20.6% during the fourth quarter. JPMorgan Chase & Co. now owns 46,804 shares of the company's stock worth $393,000 after acquiring an additional 8,001 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in D-Wave Quantum during the fourth quarter worth $264,000. Bank of Montreal Can acquired a new stake in D-Wave Quantum during the fourth quarter worth $111,000. Invesco Ltd. grew its stake 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 buying an additional 2,051 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of D-Wave Quantum in the fourth quarter valued at $2,087,000. Institutional investors and hedge funds own 42.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Rosenblatt Securities assumed coverage on D-Wave Quantum in a research note on Tuesday, July 29th. They issued a "buy" rating and a $30.00 price objective for the company. Cantor Fitzgerald assumed coverage on D-Wave Quantum in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $20.00 price objective for the company. Williams Trading set a $20.00 price objective on D-Wave Quantum in a research note on Wednesday, June 18th. Finally, Piper Sandler lifted their price objective on D-Wave Quantum from $13.00 to $22.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, D-Wave Quantum currently has an average rating of "Buy" and a consensus target price of $19.27.

D-Wave Quantum Trading Up 5.1%

NYSE:QBTS opened at $15.56 on Friday. The firm has a market cap of $5.32 billion, a PE ratio of -14.82 and a beta of 1.41. The stock has a fifty day moving average price of $16.65 and a 200 day moving average price of $11.90. D-Wave Quantum Inc. has a 12-month low of $0.80 and a 12-month high of $20.56. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). The company had revenue of $3.10 million during the quarter, compared to analysts' expectations of $2.55 million. D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The company's revenue was up 40.9% compared to the same quarter last year. Sell-side analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at D-Wave Quantum

In related news, Director John D. Dilullo sold 22,000 shares of D-Wave Quantum stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.12, for a total value of $332,640.00. Following the completion of the transaction, the director directly owned 59,295 shares in the company, valued at approximately $896,540.40. This trade represents a 27.06% decrease in their ownership of the stock. 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 on 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 owned 57,778 shares of the company's stock, valued at approximately $970,670.40. This trade represents a 42.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 378,787 shares of company stock valued at $6,389,513 in the last 90 days. 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.

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