D-Wave Quantum Inc. $QBTS Stake Lifted by McGuire Investment Group LLC

Key Points

• McGuire Investment Group LLC raised its stake in D‑Wave Quantum by 7.9% to 395,778 shares (about $9.78 million), and institutional investors now own roughly 42.47% of the company after several firms increased positions.
• Insiders sold heavily: company directors sold individual blocks (10,000 and 8,000 shares) and insiders disposed of 2,342,087 shares worth $66.07 million in the last quarter, leaving corporate insiders with 3.20% ownership.
• D‑Wave shares opened at $28.08 (12‑month range $3.74–$46.75) with a market cap of $9.83 billion; the company reported revenue of $3.74 million (up 105.6% YoY) and EPS of -$0.05 (beating estimates), while analysts have a consensus "Moderate Buy" and an average target of $33.67.

McGuire Investment Group LLC lifted its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 7.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 395,778 shares of the company's stock after acquiring an additional 28,968 shares during the quarter. McGuire Investment Group LLC owned about 0.12% of D-Wave Quantum worth $9,780,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. increased its position in shares of D-Wave Quantum by 75.3% during the 1st quarter. Raymond James Financial Inc. now owns 435,664 shares of the company's stock valued at $3,311,000 after purchasing an additional 187,191 shares during the period. Hsbc Holdings PLC boosted its stake in D-Wave Quantum by 83.7% during the first quarter. Hsbc Holdings PLC now owns 21,134 shares of the company's stock valued at $156,000 after buying an additional 9,629 shares in the last quarter. MetLife Investment Management LLC grew its holdings in D-Wave Quantum by 81.3% during the first quarter. MetLife Investment Management LLC now owns 107,299 shares of the company's stock worth $815,000 after acquiring an additional 48,100 shares during the period. Corebridge Financial Inc. raised its position in D-Wave Quantum by 82.0% in the first quarter. Corebridge Financial Inc. now owns 89,482 shares of the company's stock worth $680,000 after acquiring an additional 40,308 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in D-Wave Quantum by 12.0% in the 1st quarter. Baird Financial Group Inc. now owns 12,135 shares of the company's stock valued at $92,000 after acquiring an additional 1,300 shares during the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Rohit Ghai sold 10,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $24.28, for a total transaction of $242,800.00. Following the transaction, the director owned 37,778 shares in the company, valued at $917,249.84. This represents a 20.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John D. Dilullo sold 8,000 shares of the firm's stock in a transaction on Friday, December 5th. The shares were sold at an average price of $27.36, for a total transaction of $218,880.00. Following the transaction, the director owned 27,803 shares in the company, valued at $760,690.08. This represents a 22.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,342,087 shares of company stock worth $66,073,024 in the last quarter. Corporate insiders own 3.20% of the company's stock.

D-Wave Quantum Trading Up 7.4%

Shares of NYSE:QBTS opened at $28.08 on Friday. The firm has a fifty day moving average of $26.84 and a two-hundred day moving average of $23.07. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a 12-month low of $3.74 and a 12-month high of $46.75. The firm has a market capitalization of $9.83 billion, a P/E ratio of -20.80 and a beta of 1.57.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The business had revenue of $3.74 million during the quarter, compared to analyst estimates of $3.03 million. The firm's quarterly revenue was up 105.6% on a year-over-year basis. On average, equities analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on QBTS shares. Jefferies Financial Group initiated coverage on shares of D-Wave Quantum in a research note on Tuesday, December 16th. They set a "buy" rating and a $45.00 target price for the company. Williams Trading set a $35.00 price objective on D-Wave Quantum in a research note on Monday, November 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of D-Wave Quantum in a report on Monday, December 29th. Benchmark raised their target price on shares of D-Wave Quantum from $20.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, November 10th. Finally, B. Riley lifted their price objective on shares of D-Wave Quantum from $22.00 to $33.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, D-Wave Quantum currently has a consensus rating of "Moderate Buy" and an average target price of $33.67.

D-Wave Quantum Profile

D-Wave Quantum Inc NYSE: QBTS develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company's product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.

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