Mitsubishi UFJ Asset Management Co. Ltd. Acquires Shares of 26,700 D-Wave Quantum Inc. $QBTS

Key Points

• Mitsubishi UFJ Asset Management acquired 26,700 D-Wave Quantum shares worth approximately $641,000, while several other institutions also initiated positions. Institutional investors now own 42.47% of QBTS.
• Company insiders sold more than 1 million shares valued at approximately $26.2 million over the past 90 days, including a $5.1 million sale by CFO John Markovich.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $36.27 price target, but D-Wave recently missed quarterly revenue and EPS estimates and continues to report significant losses.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of D-Wave Quantum Inc. (NASDAQ:QBTS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,700 shares of the company's stock, valued at approximately $641,000.

A number of other institutional investors also recently modified their holdings of QBTS. Simplicity Wealth LLC purchased a new position in D-Wave Quantum during the 2nd quarter valued at about $1,058,000. Wealth Effects LLC purchased a new stake in D-Wave Quantum in the 2nd quarter worth approximately $332,000. Global Retirement Partners LLC purchased a new stake in D-Wave Quantum in the 2nd quarter worth approximately $128,000. Bank of New York Mellon Corp purchased a new stake in D-Wave Quantum in the 2nd quarter worth approximately $54,951,000. Finally, Prospect Financial Services LLC bought a new stake in shares of D-Wave Quantum in the 2nd quarter worth approximately $329,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other D-Wave Quantum news, Director John D. Dilullo sold 7,850 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $24.43, for a total transaction of $191,775.50. Following the completion of the transaction, the director owned 21,310 shares of the company's stock, valued at approximately $520,603.30. This trade represents a 26.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Markovich sold 200,000 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $25.71, for a total transaction of $5,142,000.00. Following the sale, the chief financial officer owned 1,142,820 shares in the company, valued at approximately $29,381,902.20. This trade represents a 14.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,012,065 shares of company stock valued at $26,245,703 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Mizuho boosted their target price on D-Wave Quantum from $29.00 to $35.00 and gave the company an "outperform" rating in a research note on Monday, June 15th. Roth Capital reaffirmed a "buy" rating and issued a $30.00 price target on shares of D-Wave Quantum in a research note on Thursday, August 6th. Weiss Ratings cut shares of D-Wave Quantum from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. B. Riley Financial lifted their price target on shares of D-Wave Quantum from $36.00 to $40.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Finally, Wedbush began coverage on shares of D-Wave Quantum in a research report on Monday, August 3rd. They set an "outperform" rating and a $40.00 price objective on the stock. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, D-Wave Quantum has an average rating of "Moderate Buy" and a consensus target price of $36.27.

D-Wave Quantum News Roundup

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

• Positive Sentiment: BMO initiated coverage with an Outperform rating and a $35 price target, implying roughly 85%–86% upside from recent levels. The firm highlighted D-Wave’s commercial revenue potential, providing a significant catalyst for the stock. D-Wave Quantum Stock Climbs as BMO Turns Bullish
• Positive Sentiment: NTT DOCOMO deployed a second production application powered by D-Wave to improve mobile-network planning and efficiency. The deployment expands the relationship beyond pilot projects and offers evidence that D-Wave’s technology is being used in commercial telecom operations. D-Wave Lands Second Production Telecom Application
• Positive Sentiment: D-Wave’s order and contracted-revenue indicators remain strong. First-half bookings reportedly surged 1,120% year over year to $35.5 million, while remaining performance obligations rose 668% to $40.7 million. Nearly $23 million of contracted revenue could be recognized within 12 months, and commercial customers generated 67.7% of first-half revenue. D-Wave: Demand Is Outrunning Revenue
• Neutral Sentiment: Analysts and market commentary are increasingly focused on whether D-Wave can convert customer interest, bookings and production applications into sustained revenue and eventual profitability. Some quantum stocks continue to attract attention for their growth prospects despite a tougher market. Quantum Stocks Face Reality Check
• Negative Sentiment: Valuation remains a concern. After approximately a 15-fold three-year gain, D-Wave screens as expensive on valuation measures, raising the risk that substantial future progress is already reflected in the share price. D-Wave Quantum Stock Looks Expensive
• Negative Sentiment: Quantum-computing stocks have recently faced broad sector selling, while Zacks Research downgraded D-Wave from “Strong Buy” to “Hold.” These factors could limit gains even as company-specific news improves sentiment. Quantum Stock Selloff

D-Wave Quantum Stock Performance

D-Wave Quantum stock opened at $20.39 on Friday. The stock's 50 day simple moving average is $20.62 and its two-hundred day simple moving average is $20.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 20.42 and a current ratio of 20.55. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of -28.72 and a beta of 2.15. D-Wave Quantum Inc. has a fifty-two week low of $12.75 and a fifty-two week high of $46.75.

D-Wave Quantum (NASDAQ:QBTS - Get Free Report) last announced its earnings results 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 firm had revenue of $3.08 million during the quarter, compared to the consensus estimate of $4.03 million. D-Wave Quantum had a negative return on equity of 26.67% and a negative net margin of 2,001.59%.The firm's revenue was down 0.6 on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) EPS. As a group, analysts expect that D-Wave Quantum Inc. will post -0.46 earnings per share for the current fiscal year.

D-Wave Quantum 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.

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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