Janus Henderson Group PLC Lowers Holdings in D-Wave Quantum Inc. $QBTS

Key Points

• Janus Henderson cut its D-Wave Quantum stake by 21.9% in the first quarter, selling 42,257 shares and retaining 151,073 shares worth about $2.18 million. Other institutional investors increased their positions, and institutions collectively own 42.47% of the company.
• Insiders sold heavily during the last quarter, disposing of 1.36 million shares worth approximately $35.8 million. The reported sales were conducted under pre-arranged Rule 10b5-1 trading plans.
• D-Wave missed quarterly expectations, reporting a $0.10 per-share loss and $3.08 million in revenue versus estimates of an $0.08 loss and $4.03 million in revenue. Despite the weak results, analysts maintain a “Moderate Buy” consensus with an average price target of $36.36, supported by improving bookings and customer adoption.

Janus Henderson Group PLC reduced its stake in shares of D-Wave Quantum Inc. (NASDAQ:QBTS - Free Report) by 21.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 151,073 shares of the company's stock after selling 42,257 shares during the period. Janus Henderson Group PLC's holdings in D-Wave Quantum were worth $2,179,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Encore Global Management LP acquired a new position in shares of D-Wave Quantum in the 1st quarter valued at about $433,000. Amundi raised its position in D-Wave Quantum by 32.5% during the first quarter. Amundi now owns 171,955 shares of the company's stock valued at $2,481,000 after acquiring an additional 42,159 shares in the last quarter. California State Teachers Retirement System raised its position in D-Wave Quantum by 26.9% during the first quarter. California State Teachers Retirement System now owns 407,235 shares of the company's stock valued at $5,876,000 after acquiring an additional 86,267 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in D-Wave Quantum by 64.7% in the first quarter. The Manufacturers Life Insurance Company now owns 183,481 shares of the company's stock valued at $2,648,000 after acquiring an additional 72,100 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in D-Wave Quantum by 38.1% in the first quarter. Quantinno Capital Management LP now owns 69,413 shares of the company's stock valued at $1,002,000 after acquiring an additional 19,168 shares during the period. Hedge funds and other institutional investors own 42.47% of the company's stock.

Insider Buying and Selling

In other D-Wave Quantum news, Director Rohit Ghai sold 13,518 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $26.41, for a total transaction of $357,010.38. Following the completion of the sale, the director directly owned 23,617 shares in the company, valued at approximately $623,724.97. The trade was a 36.40% decrease in their position. The transaction 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, VP Sophie C. Ames sold 3,070 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $16.95, for a total value of $52,036.50. Following the transaction, the vice president directly owned 589,009 shares of the company's stock, valued at $9,983,702.55. The trade was a 0.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,363,842 shares of company stock worth $35,789,148 in the last quarter. 1.30% of the stock is owned by insiders.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $20.76 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41. The company's fifty day moving average price is $21.74 and its 200 day moving average price is $20.59. The stock has a market capitalization of $7.68 billion, a P/E ratio of -29.24 and a beta of 2.15. D-Wave Quantum Inc. has a 1 year low of $12.75 and a 1 year high of $46.75.

D-Wave Quantum (NASDAQ:QBTS - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) 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 28.19%. The business's revenue for the quarter was down 0.6 on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) earnings per share. As a group, equities research analysts anticipate that D-Wave Quantum Inc. will post -0.42 earnings per share for the current fiscal year.

Key Stories Impacting D-Wave Quantum

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: Bookings and customer adoption improved substantially. D-Wave reported a roughly 1,120% year-over-year increase in first-half bookings, a $40.7 million backlog and growing exposure to commercial customers. Management said production annealing usage is expanding, supporting the company’s long-term growth narrative. D-Wave CEO says QBTS ready to lead the quantum market after a 1,100% surge in first-half bookings
• Positive Sentiment: Analyst confidence is providing support. Rosenblatt Securities reaffirmed its “Buy” rating and set a $43 price target, implying substantial upside from current levels. Broader coverage also identifies quantum computing as a potential beneficiary of increasing AI investment and government support for next-generation computing. Beyond NVIDIA and GPUs: The Next AI and Quantum Winners Leading 2026
• Neutral Sentiment: The investment case remains dependent on execution. D-Wave is developing a staged path toward commercially relevant gate-model quantum computing, while management expects a disproportionate share of 2026 revenue to arrive in the fourth quarter. That outlook could produce significant upside if adoption accelerates, but also leaves results sensitive to timing and customer deployments. QBTS Q2 Earnings Call Focuses on Adoption and Quantum Roadmaps
• Negative Sentiment: Second-quarter results missed expectations. Revenue was $3.08 million versus approximately $4.03 million expected, while the loss was $0.10 per share compared with an anticipated $0.08 loss. Revenue also declined slightly year over year, and the company continues to report substantial net losses. These results initially pressured the shares despite the bookings growth. QBTS Stock Falls on Wider-Than-Expected Q2 Loss and Revenue Miss

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $43.00 price objective on shares of D-Wave Quantum in a research note on Friday. Roth Capital reiterated a "buy" rating and issued a $30.00 target price on shares of D-Wave Quantum in a research note on Thursday. Northland Securities started coverage on shares of D-Wave Quantum in a research report on Monday, April 20th. They set a "market perform" rating and a $22.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 price objective on shares of D-Wave Quantum in a report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded shares of D-Wave Quantum from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, D-Wave Quantum presently has an average rating of "Moderate Buy" and an average target price of $36.36.

D-Wave Quantum Company Profile

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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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.

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