Focus Financial Network Inc. Trims Stake in Quantum Computing Inc. $QUBT

Key Points

• Focus Financial Network cut its stake by 65.3%, selling 730,209 shares in Q4 and leaving it with 387,222 shares (about 0.17% of the company) valued at roughly $3.97 million.
• Company insiders have been net sellers, disposing of 81,122 shares worth $648,248 over the past 90 days (including recent sales by the COO and CFO), though insiders still own 19.30% of the stock.
• Shares and recent results: QUBT opened around $7.45 (12‑month range $5.76–$25.84) with a $1.67B market cap; the latest quarter beat EPS estimates (-$0.01 vs. -$0.04) but missed on revenue.

Focus Financial Network Inc. lowered its position in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 65.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 387,222 shares of the company's stock after selling 730,209 shares during the period. Focus Financial Network Inc. owned 0.17% of Quantum Computing worth $3,973,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Quantum Computing by 81.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,039 shares of the company's stock valued at $236,000 after purchasing an additional 10,326 shares in the last quarter. Aventura Private Wealth LLC bought a new position in Quantum Computing in the fourth quarter worth $26,000. JPMorgan Chase & Co. lifted its position in Quantum Computing by 1,612.0% during the third quarter. JPMorgan Chase & Co. now owns 933,925 shares of the company's stock valued at $17,194,000 after buying an additional 879,374 shares during the period. Tudor Investment Corp ET AL purchased a new position in Quantum Computing during the third quarter valued at $4,582,000. Finally, Triumph Capital Management bought a new stake in shares of Quantum Computing during the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 4.26% of the company's stock.

Quantum Computing Trading Up 1.5%

NASDAQ QUBT opened at $7.45 on Wednesday. Quantum Computing Inc. has a 12 month low of $5.76 and a 12 month high of $25.84. The stock's fifty day moving average price is $9.00 and its 200-day moving average price is $12.69. The stock has a market cap of $1.67 billion, a P/E ratio of -49.67 and a beta of 3.51.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.03. The company had revenue of $0.20 million during the quarter, compared to analysts' expectations of $0.39 million.

Insider Transactions at Quantum Computing

In other Quantum Computing news, COO Milan Begliarbekov sold 2,860 shares of Quantum Computing stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total value of $33,891.00. Following the completion of the transaction, the chief operating officer directly owned 24,240 shares of the company's stock, valued at approximately $287,244. The trade was a 10.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher Bruce Roberts sold 9,360 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $7.85, for a total transaction of $73,476.00. Following the completion of the transaction, the chief financial officer owned 1,123,038 shares in the company, valued at approximately $8,815,848.30. This represents a 0.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 81,122 shares of company stock valued at $648,248. 19.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wedbush initiated coverage on shares of Quantum Computing in a research report on Wednesday, December 17th. They issued a "neutral" rating and a $12.00 target price on the stock. Ascendiant Capital Markets dropped their price objective on shares of Quantum Computing from $40.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, December 22nd. Wall Street Zen lowered shares of Quantum Computing from a "hold" rating to a "sell" rating in a research note on Saturday, March 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Quantum Computing in a report on Monday, December 29th. Finally, Cantor Fitzgerald lowered their target price on shares of Quantum Computing from $15.00 to $10.00 and set a "neutral" rating for the company in a report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $17.00.

Quantum Computing Company Profile

Quantum Computing Inc NASDAQ: QUBT is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company's flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.