Ensign Peak Advisors Inc Purchases 30,500 Shares of D-Wave Quantum Inc. $QBTS

Key Points

• Ensign Peak Advisors increased its stake in D-Wave Quantum (QBTS) by 70.4%, buying 30,500 shares to hold 73,850 shares valued at about $1.08 million, while institutional ownership stands at 42.47% with Vanguard and Geode holding multi‑million‑share positions.
• D‑Wave beat the quarter's EPS estimate (reported −$0.05 vs. −$0.07 expected) and posted revenue of $3.74 million, up 105.6% year‑over‑year, but remains unprofitable with a very negative net margin and ROE.
• Insiders have been net sellers — the CFO sold 200,000 shares for ~$4.59 million and insiders sold ~1.38 million shares (~$36.9 million) in the last 90 days — while analysts overall rate the stock a Moderate Buy with a consensus target of $28.67.

Ensign Peak Advisors Inc increased its position in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 70.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,850 shares of the company's stock after purchasing an additional 30,500 shares during the quarter. Ensign Peak Advisors Inc's holdings in D-Wave Quantum were worth $1,081,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of D-Wave Quantum by 58.5% in the 1st quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company's stock valued at $85,766,000 after buying an additional 4,166,721 shares during the period. Geode Capital Management LLC raised its stake in shares of D-Wave Quantum by 41.6% in the 2nd quarter. Geode Capital Management LLC now owns 6,411,558 shares of the company's stock valued at $93,877,000 after purchasing an additional 1,883,109 shares during the period. Trexquant Investment LP bought a new stake in shares of D-Wave Quantum in the first quarter valued at about $8,064,000. SG Americas Securities LLC acquired a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $14,349,000. Finally, Headlands Technologies LLC bought a new stake in shares of D-Wave Quantum in the first quarter worth $6,883,000. 42.47% of the stock is owned by institutional investors.

D-Wave Quantum Trading Up 1.8%

QBTS stock opened at $22.82 on Friday. The company's 50 day moving average price is $29.79 and its two-hundred day moving average price is $21.28. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68. D-Wave Quantum Inc. has a one year low of $2.50 and a one year high of $46.75. The company has a market capitalization of $7.99 billion, a PE ratio of -16.90 and a beta of 1.53.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) 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 firm had revenue of $3.74 million for the quarter, compared to the consensus estimate of $3.03 million. The company's quarterly revenue was up 105.6% on a year-over-year basis. As a group, analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QBTS. Stifel Nicolaus began coverage on D-Wave Quantum in a report on Tuesday, August 5th. They set a "buy" rating and a $26.00 price target for the company. Roth Capital set a $40.00 target price on D-Wave Quantum in a research report on Thursday, November 6th. Williams Trading set a $35.00 target price on D-Wave Quantum in a report on Monday, November 10th. Wall Street Zen raised shares of D-Wave Quantum from a "sell" rating to a "hold" rating in a research report on Saturday, November 8th. Finally, Zacks Research upgraded D-Wave Quantum from a "strong sell" rating to a "hold" rating in a report on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.67.

Insider Activity

In other D-Wave Quantum news, Director John D. Dilullo sold 8,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $143,440.00. Following the completion of the sale, the director owned 36,295 shares of the company's stock, valued at $650,769.35. This represents a 18.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John M. Markovich sold 200,000 shares of the business's stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $22.94, for a total transaction of $4,588,000.00. Following the completion of the transaction, the chief financial officer owned 1,482,874 shares in the company, valued at $34,017,129.56. The trade was a 11.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,379,813 shares of company stock worth $36,891,986 over the last ninety days. Company 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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