Handelsbanken Fonder AB Grows Holdings in D-Wave Quantum Inc. $QBTS

Key Points

• Handelsbanken Fonder increased its D-Wave Quantum stake by 23.6% in the second quarter, acquiring 25,400 additional shares for a total holding of 133,200 shares valued at approximately $3.2 million. Institutional investors own 42.47% of QBTS.
• Insiders have been selling shares: CEO Alan E. Baratz sold 687,627 shares worth nearly $18 million, while Director John D. Dilullo sold 7,850 shares. Insiders collectively sold $35.8 million of stock over the past 90 days.
• D-Wave missed quarterly expectations, reporting a loss of $0.10 per share and revenue of $3.08 million versus estimates of $4.03 million. Despite the shortfall, analysts maintain a “Moderate Buy” consensus with an average price target of $36.36, above the stock’s recent $21.17 price.

Handelsbanken Fonder AB boosted its holdings in shares of D-Wave Quantum Inc. (NASDAQ:QBTS - Free Report) by 23.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,200 shares of the company's stock after acquiring an additional 25,400 shares during the period. Handelsbanken Fonder AB's holdings in D-Wave Quantum were worth $3,195,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Root Financial Partners LLC grew its holdings in D-Wave Quantum by 388.0% in the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company's stock worth $26,000 after purchasing an additional 776 shares during the period. Parallel Advisors LLC lifted its holdings in shares of D-Wave Quantum by 545.5% during the first quarter. Parallel Advisors LLC now owns 1,788 shares of the company's stock valued at $26,000 after purchasing an additional 1,511 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of D-Wave Quantum during the fourth quarter valued at approximately $28,000. PeakShares LLC bought a new stake in shares of D-Wave Quantum in the 1st quarter worth approximately $29,000. Finally, Ancora Advisors LLC bought a new stake in shares of D-Wave Quantum in the 3rd quarter worth approximately $30,000. 42.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other D-Wave Quantum news, Director John D. Dilullo sold 7,850 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $24.43, for a total transaction of $191,775.50. Following the completion of the sale, the director directly owned 21,310 shares in the company, valued at approximately $520,603.30. The trade was a 26.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alan E. Baratz sold 687,627 shares of the business's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $26.13, for a total transaction of $17,967,693.51. Following the sale, the chief executive officer owned 3,299,771 shares of the company's stock, valued at approximately $86,223,016.23. This represents a 17.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,363,842 shares of company stock worth $35,789,148 in the last 90 days. Insiders own 1.30% of the company's stock.

D-Wave Quantum Stock Performance

Shares of NASDAQ QBTS opened at $21.17 on Friday. The firm's 50-day moving average price is $21.04 and its 200-day moving average price is $20.37. D-Wave Quantum Inc. has a 52-week low of $12.75 and a 52-week high of $46.75. The company has a market cap of $7.83 billion, a PE ratio of -29.82 and a beta of 2.15. The company has a quick ratio of 21.31, a current ratio of 20.55 and a debt-to-equity ratio of 0.03.

D-Wave Quantum (NASDAQ:QBTS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The company had revenue of $3.08 million for the quarter, compared to analysts' expectations of $4.03 million. D-Wave Quantum had a negative net margin of 2,001.59% and a negative return on equity of 26.67%. The firm's revenue for the quarter was down 0.6 on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) earnings per share. As a group, analysts anticipate that D-Wave Quantum Inc. will post -0.42 EPS for the current year.

Analyst Upgrades and Downgrades

QBTS has been the topic of several recent research reports. Wedbush assumed coverage on D-Wave Quantum in a research note on Monday, August 3rd. They issued an "outperform" rating and a $40.00 price target on the stock. Jefferies Financial Group set a $40.00 price objective on D-Wave Quantum in a research note on Friday, August 7th. B. Riley Financial boosted their target price on D-Wave Quantum from $36.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Stifel Nicolaus set a $35.00 target price on D-Wave Quantum in a research note on Tuesday, June 2nd. Finally, Roth Capital restated a "buy" rating and set a $30.00 price target on shares of D-Wave Quantum in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, D-Wave Quantum currently has an average rating of "Moderate Buy" and an average price target of $36.36.

About D-Wave Quantum

D-Wave Quantum Inc NYSE: QBTS develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.

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