Farther Finance Advisors LLC Raises Position in D-Wave Quantum Inc. $QBTS

Key Points

• Farther Finance Advisors LLC increased its stake in D-Wave Quantum Inc. (NYSE: QBTS) by 491.3% in Q2, acquiring a total of 16,321 shares worth $239,000.
• Insider trading activity includes CFO John M. Markovich selling 50,000 shares for $815,000, reducing his ownership by 3.03%.
• D-Wave Quantum's stock price has shown volatility, with a current market cap of $8.44 billion and shares recently valued at $24.69, reflecting a 2.5% decline.

Farther Finance Advisors LLC lifted its stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 491.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,321 shares of the company's stock after buying an additional 13,561 shares during the period. Farther Finance Advisors LLC's holdings in D-Wave Quantum were worth $239,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Capital Advisory Group Advisory Services LLC boosted its position in shares of D-Wave Quantum by 3.0% in the second quarter. Capital Advisory Group Advisory Services LLC now owns 22,167 shares of the company's stock worth $325,000 after buying an additional 646 shares during the period. bLong Financial LLC boosted its holdings in D-Wave Quantum by 5.2% in the first quarter. bLong Financial LLC now owns 24,092 shares of the company's stock valued at $183,000 after purchasing an additional 1,200 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in D-Wave Quantum by 12.0% in the first quarter. Baird Financial Group Inc. now owns 12,135 shares of the company's stock valued at $92,000 after purchasing an additional 1,300 shares during the last quarter. Parallel Advisors LLC boosted its holdings in D-Wave Quantum by 227.3% in the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company's stock valued at $32,000 after purchasing an additional 1,532 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in D-Wave Quantum by 5.8% in the first quarter. Victory Capital Management Inc. now owns 31,097 shares of the company's stock valued at $236,000 after purchasing an additional 1,698 shares during the last quarter. Hedge funds and other institutional investors own 42.47% of the company's stock.

Insider Transactions at D-Wave Quantum

In other news, CFO John M. Markovich sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $16.30, for a total transaction of $815,000.00. Following the sale, the chief financial officer directly owned 1,599,511 shares in the company, valued at approximately $26,072,029.30. This represents a 3.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rohit Ghai sold 10,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $17.93, for a total value of $179,300.00. Following the sale, the director owned 47,778 shares in the company, valued at $856,659.54. The trade was a 17.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,000 shares of company stock worth $2,937,740. 3.20% of the stock is currently owned by company insiders.

D-Wave Quantum Stock Down 2.5%

Shares of D-Wave Quantum stock opened at $24.69 on Wednesday. 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 business's 50 day simple moving average is $18.61 and its 200-day simple moving average is $14.44. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of -23.51 and a beta of 1.39. D-Wave Quantum Inc. has a twelve month low of $0.87 and a twelve month high of $29.18.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). The company had revenue of $3.10 million for the quarter, compared to analyst estimates 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 for the quarter was up 40.9% on a year-over-year basis. Equities research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

QBTS has been the subject of a number of analyst reports. Benchmark reissued a "buy" rating and issued a $20.00 price target on shares of D-Wave Quantum in a report on Monday, August 4th. Wall Street Zen downgraded D-Wave Quantum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Stifel Nicolaus initiated coverage on D-Wave Quantum in a report on Tuesday, August 5th. They issued a "buy" rating and a $26.00 price target for the company. B. Riley increased their price target on D-Wave Quantum from $22.00 to $33.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Finally, Piper Sandler increased their price target on D-Wave Quantum from $13.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Eleven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $20.27.

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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