Deutsche Bank AG Increases Stock Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

Deutsche Bank AG lifted its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 35.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,906 shares of the company's stock after buying an additional 19,157 shares during the quarter. Deutsche Bank AG's holdings in D-Wave Quantum were worth $621,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new position in D-Wave Quantum during the fourth quarter valued at approximately $38,000. Heritage Wealth Advisors acquired a new position in D-Wave Quantum during the fourth quarter valued at approximately $67,000. Kingsview Wealth Management LLC acquired a new position in shares of D-Wave Quantum in the fourth quarter valued at approximately $84,000. Summit Investment Advisors Inc. boosted its holdings in shares of D-Wave Quantum by 20.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company's stock valued at $87,000 after buying an additional 1,766 shares during the period. Finally, Spire Wealth Management acquired a new position in shares of D-Wave Quantum in the fourth quarter valued at approximately $90,000. Institutional investors and hedge funds own 42.47% of the company's stock.

D-Wave Quantum Stock Down 7.6%

Shares of QBTS stock traded down $1.33 during trading on Thursday, reaching $16.22. The company's stock had a trading volume of 66,570,205 shares, compared to its average volume of 43,183,411. The business has a fifty day moving average price of $9.29 and a 200-day moving average price of $7.00. The company has a market cap of $4.72 billion, a price-to-earnings ratio of -38.61 and a beta of 0.90. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $19.77.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $15.00 million during the quarter, compared to the consensus estimate of $10.50 million. Research analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Insider Buying and Selling at D-Wave Quantum

In related news, CEO Alan E. Baratz sold 845,813 shares of D-Wave Quantum stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $17.00, for a total transaction of $14,378,821.00. Following the sale, the chief executive officer now directly owns 2,866,412 shares in the company, valued at $48,729,004. This trade represents a 22.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roger Biscay sold 96,521 shares of D-Wave Quantum stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $17.86, for a total transaction of $1,723,865.06. Following the sale, the director now owns 106,626 shares in the company, valued at approximately $1,904,340.36. This represents a 47.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,358,009 shares of company stock valued at $23,282,578 in the last ninety days. 7.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Benchmark upped their price target on shares of D-Wave Quantum from $8.00 to $14.00 and gave the company a "buy" rating in a report on Monday, May 12th. B. Riley upped their price target on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a "buy" rating in a report on Friday, March 14th. Needham & Company LLC upped their price target on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Roth Mkm upped their price target on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a report on Friday, March 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $10.17.

D-Wave Quantum Company 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.