D-Wave Quantum Inc. (NYSE:QBTS) Position Boosted by Nuveen Asset Management LLC

Nuveen Asset Management LLC increased its position in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 481,708 shares of the company's stock after buying an additional 43,159 shares during the quarter. Nuveen Asset Management LLC owned about 0.18% of D-Wave Quantum worth $4,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in QBTS. Sonora Investment Management Group LLC purchased a new position in shares of D-Wave Quantum in the 4th quarter worth $135,000. Spire Wealth Management purchased a new position in shares of D-Wave Quantum in the 4th quarter worth $90,000. Kingsview Wealth Management LLC purchased a new position in shares of D-Wave Quantum in the 4th quarter worth $84,000. AlphaStar Capital Management LLC purchased a new position in shares of D-Wave Quantum in the 4th quarter worth $225,000. Finally, Stephens Inc. AR purchased a new position in shares of D-Wave Quantum in the 4th quarter worth $494,000. 42.47% of the stock is owned by hedge funds and other institutional investors.

D-Wave Quantum Price Performance

NYSE QBTS traded up $0.78 during trading hours on Monday, hitting $17.11. The company had a trading volume of 64,641,454 shares, compared to its average volume of 43,691,687. The firm's 50 day moving average is $9.59 and its 200 day moving average is $7.28. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of -40.73 and a beta of 0.90. D-Wave Quantum Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $19.77.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The business had revenue of $15.00 million for the quarter, compared to analyst estimates of $10.50 million. On average, equities analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Insider Activity

In other news, Director Roger Biscay sold 15,675 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $16.58, for a total transaction of $259,891.50. Following the transaction, the director now owns 203,147 shares of the company's stock, valued at approximately $3,368,177.26. This trade represents a 7.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Alan E. Baratz sold 845,813 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $17.00, for a total transaction of $14,378,821.00. Following the transaction, the chief executive officer now directly owns 2,866,412 shares in the company, valued at $48,729,004. The trade was a 22.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,358,009 shares of company stock worth $23,282,578 over the last ninety days. Corporate insiders own 7.22% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on QBTS. B. Riley increased their price target on D-Wave Quantum from $11.00 to $12.00 and gave the company a "buy" rating in a report on Friday, March 14th. Roth Mkm increased their price target on D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a report on Friday, March 14th. Benchmark increased their price target on D-Wave Quantum from $8.00 to $14.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Needham & Company LLC increased their price target on D-Wave Quantum from $8.50 to $13.00 and gave the company a "buy" rating in a report on Friday, May 9th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $10.17.

D-Wave Quantum Profile

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.