D-Wave Quantum Inc. $QBTS Stake Raised by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 58.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,285,043 shares of the company's stock after acquiring an additional 4,166,721 shares during the quarter. Vanguard Group Inc. owned 3.87% of D-Wave Quantum worth $85,766,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vontobel Holding Ltd. grew its position in D-Wave Quantum by 786.8% during the first quarter. Vontobel Holding Ltd. now owns 110,850 shares of the company's stock valued at $842,000 after purchasing an additional 98,350 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of D-Wave Quantum by 20.6% during the 4th quarter. JPMorgan Chase & Co. now owns 46,804 shares of the company's stock valued at $393,000 after buying an additional 8,001 shares during the period. Bank of Montreal Can purchased a new position in shares of D-Wave Quantum during the 4th quarter valued at $111,000. Kingswood Wealth Advisors LLC acquired a new position in shares of D-Wave Quantum in the first quarter worth $167,000. Finally, Verity Asset Management Inc. purchased a new stake in shares of D-Wave Quantum during the first quarter worth $251,000. Institutional investors and hedge funds own 42.47% of the company's stock.

Insider Buying and Selling

In other D-Wave Quantum news, Director John D. Dilullo sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $16.40, for a total value of $246,000.00. Following the sale, the director owned 44,295 shares of the company's stock, valued at $726,438. This trade represents a 25.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 value of $731,085.60. Following the completion of the transaction, the director directly owned 57,778 shares in the company, valued at approximately $970,670.40. This 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 quarter. Insiders own 3.20% of the company's stock.

D-Wave Quantum Price Performance

Shares of D-Wave Quantum stock opened at $15.56 on Friday. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $16.65 and a 200-day simple moving average of $11.90. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of -14.82 and a beta of 1.41. D-Wave Quantum Inc. has a 1-year low of $0.80 and a 1-year high of $20.56.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on QBTS shares. Roth Capital restated a "buy" rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Wall Street Zen lowered D-Wave Quantum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Stifel Nicolaus began coverage on D-Wave Quantum in a research note on Tuesday, August 5th. They issued a "buy" rating and a $26.00 price target for the company. Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Finally, B. Riley lifted their target price on shares of D-Wave Quantum from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Eleven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, D-Wave Quantum presently has a consensus rating of "Buy" and a consensus price target of $19.27.

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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