Nisa Investment Advisors LLC Acquires 45,735 Shares of D-Wave Quantum Inc. $QBTS

Key Points

• Nisa Investment Advisors raised its stake in D‑Wave by 747.5% in Q3, purchasing 45,735 shares to own 51,853 shares worth about $1.28 million after the filing.
• Insiders sold heavily last quarter — including director sales of 8,000 and 10,000 shares — with a total of 2,302,724 shares sold for $64.35 million, leaving insiders with 3.20% ownership.
• Wall Street is broadly positive: 14 Buys, 1 Hold and 1 Sell give a consensus rating of Moderate Buy and a consensus target price of $33.67, with some firms setting targets up to $45.00.

Nisa Investment Advisors LLC raised its holdings in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 747.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,853 shares of the company's stock after purchasing an additional 45,735 shares during the quarter. Nisa Investment Advisors LLC's holdings in D-Wave Quantum were worth $1,281,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Baird Financial Group Inc. increased its stake in shares of D-Wave Quantum by 12.0% in the first quarter. Baird Financial Group Inc. now owns 12,135 shares of the company's stock valued at $92,000 after buying an additional 1,300 shares in the last quarter. Royal Bank of Canada increased its position in D-Wave Quantum by 59.8% in the 1st quarter. Royal Bank of Canada now owns 162,088 shares of the company's stock valued at $1,231,000 after acquiring an additional 60,668 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of D-Wave Quantum by 201.0% in the first quarter. AQR Capital Management LLC now owns 200,765 shares of the company's stock worth $1,526,000 after acquiring an additional 134,066 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of D-Wave Quantum by 93.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company's stock worth $825,000 after acquiring an additional 52,437 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of D-Wave Quantum by 125.7% during the first quarter. NewEdge Advisors LLC now owns 43,786 shares of the company's stock worth $333,000 after purchasing an additional 24,382 shares in the last quarter. Institutional investors own 42.47% of the company's stock.

Insider Activity

In other news, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction on Friday, December 5th. The shares were sold at an average price of $27.36, for a total transaction of $218,880.00. Following the transaction, the director directly owned 27,803 shares of the company's stock, valued at $760,690.08. This trade represents a 22.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rohit Ghai sold 10,000 shares of the company's stock in a transaction on Monday, December 15th. The shares were sold at an average price of $24.28, for a total transaction of $242,800.00. Following the completion of the sale, the director owned 37,778 shares of the company's stock, valued at approximately $917,249.84. This represents a 20.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,302,724 shares of company stock worth $64,351,287 over the last quarter. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on QBTS. Zacks Research raised shares of D-Wave Quantum from a "strong sell" rating to a "hold" rating in a report on Thursday, November 6th. Benchmark increased their price objective on D-Wave Quantum from $20.00 to $35.00 and gave the company a "buy" rating in a research report on Monday, November 10th. Rosenblatt Securities restated a "buy" rating and set a $40.00 target price on shares of D-Wave Quantum in a research report on Wednesday, January 7th. Cantor Fitzgerald raised their price target on D-Wave Quantum from $20.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, November 7th. Finally, Jefferies Financial Group assumed coverage on D-Wave Quantum in a research report on Tuesday, December 16th. They issued a "buy" rating and a $45.00 price objective for the company. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.67.

D-Wave Quantum Stock Up 4.4%

NYSE:QBTS opened at $30.09 on Thursday. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a 12-month low of $4.45 and a 12-month high of $46.75. The stock's fifty day simple moving average is $26.22 and its 200-day simple moving average is $23.89. The firm has a market capitalization of $10.53 billion, a P/E ratio of -22.29 and a beta of 1.57.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. The firm had revenue of $3.74 million for the quarter, compared to analyst estimates of $3.03 million. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The company's revenue was up 105.6% compared to the same quarter last year. Equities research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

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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