Marietta Investment Partners LLC Takes Position in D-Wave Quantum Inc. (NYSE:QBTS)

Key Points

• Marietta Investment Partners LLC acquired a new stake in D-Wave Quantum Inc., purchasing 68,550 shares worth approximately $521,000 in the 1st quarter.
• Several institutional investors, including Vanguard Group Inc. and Bank of America Corp DE, significantly increased their positions in D-Wave Quantum, with Vanguard boosting its stake by 103.7% during the 4th quarter.
• Analysts are optimistic about D-Wave Quantum's future, with a consensus rating of "Buy" and a target price averaging $15.22, reflecting increasing confidence in the company's potential.

Marietta Investment Partners LLC bought a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 68,550 shares of the company's stock, valued at approximately $521,000.

Several other institutional investors and hedge funds also recently made changes to their positions in QBTS. Vanguard Group Inc. boosted its stake in shares of D-Wave Quantum by 103.7% during the 4th quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company's stock valued at $59,794,000 after buying an additional 3,624,407 shares during the last quarter. Bank of America Corp DE increased its position in shares of D-Wave Quantum by 4,912.4% in the 4th quarter. Bank of America Corp DE now owns 2,548,099 shares of the company's stock worth $21,404,000 after purchasing an additional 2,497,263 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of D-Wave Quantum by 80.1% in the 1st quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company's stock worth $38,518,000 after purchasing an additional 2,253,741 shares during the last quarter. UNICOM Systems Inc. increased its position in shares of D-Wave Quantum by 91.9% in the 1st quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company's stock worth $35,171,000 after purchasing an additional 2,216,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of D-Wave Quantum by 16.4% in the 4th quarter. Geode Capital Management LLC now owns 2,974,395 shares of the company's stock worth $24,992,000 after purchasing an additional 418,468 shares during the last quarter. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QBTS has been the subject of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of D-Wave Quantum in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $20.00 target price for the company. Needham & Company LLC boosted their target price on shares of D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Roth Capital reissued a "buy" rating on shares of D-Wave Quantum in a research report on Friday, June 13th. Benchmark reissued a "buy" rating and issued a $20.00 target price (up previously from $14.00) on shares of D-Wave Quantum in a research report on Tuesday, June 17th. Finally, Williams Trading set a $20.00 price target on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum currently has an average rating of "Buy" and a consensus price target of $15.22.

D-Wave Quantum Trading Down 4.5%

D-Wave Quantum stock opened at $18.86 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 20.73 and a quick ratio of 20.61. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of -31.44 and a beta of 1.40. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $20.56. The company's fifty day moving average price is $16.62 and its two-hundred day moving average price is $10.29.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. The firm had revenue of $15.00 million for the quarter, compared to the consensus estimate of $10.50 million. D-Wave Quantum had a negative net margin of 617.84% and a negative return on equity of 227.95%. On average, analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other D-Wave Quantum news, CFO John M. Markovich sold 400,000 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $17.30, for a total transaction of $6,920,000.00. Following the completion of the transaction, the chief financial officer owned 1,577,944 shares of the company's stock, valued at $27,298,431.20. The trade was a 20.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger Biscay sold 106,626 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $16.85, for a total transaction of $1,796,648.10. Following the transaction, the director directly owned 14,260 shares of the company's stock, valued at approximately $240,281. This represents a 88.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,636,796 shares of company stock worth $27,872,091 in the last three months. 3.20% of the stock is owned by insiders.

About D-Wave Quantum

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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