Orion Porfolio Solutions LLC Raises Holdings in D-Wave Quantum Inc. $QBTS

Key Points

• Orion Portfolio Solutions LLC raised its stake 100.9% in D‑Wave during Q3 to 112,281 shares, representing about $2.77 million per its latest 13F filing (institutional ownership ~42.5%).
• Company insiders have been net sellers recently — directors sold blocks (e.g., 8,000 and 10,000 shares) and insiders disposed of 967,466 shares worth $28.82 million in the last 90 days, leaving insiders with ~3.2% ownership.
• Despite a quarterly earnings miss (EPS -$0.09 vs. -$0.05 estimate) and revenue short of expectations, analysts remain broadly bullish with 14 Buys, 1 Hold and 1 Sell and a consensus target of $36.50 versus the stock trading near $19.05.

Orion Porfolio Solutions LLC increased its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 100.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,281 shares of the company's stock after acquiring an additional 56,381 shares during the period. Orion Porfolio Solutions LLC's holdings in D-Wave Quantum were worth $2,774,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Atlantic Union Bankshares Corp purchased a new stake in D-Wave Quantum in the 2nd quarter worth approximately $29,000. Financial Consulate Inc. purchased a new position in shares of D-Wave Quantum during the 3rd quarter valued at approximately $31,000. Huntington National Bank acquired a new position in shares of D-Wave Quantum in the 2nd quarter valued at $41,000. GAMMA Investing LLC lifted its stake in shares of D-Wave Quantum by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,874 shares of the company's stock valued at $46,000 after purchasing an additional 482 shares during the period. Finally, Nvwm LLC purchased a new stake in D-Wave Quantum during the third quarter worth $52,000. 42.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at D-Wave Quantum

In other news, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $18.01, for a total value of $144,080.00. Following the sale, the director directly owned 19,803 shares of the company's stock, valued at $356,652.03. The trade was a 28.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rohit Ghai sold 10,000 shares of the company's stock in a transaction on Monday, December 15th. The stock was sold at an average price of $24.28, for a total transaction of $242,800.00. Following the sale, the director directly owned 37,778 shares of the company's stock, valued at $917,249.84. The trade was a 20.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 967,466 shares of company stock worth $28,820,666. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wedbush began coverage on shares of D-Wave Quantum in a research report on Wednesday, December 17th. They set an "outperform" rating and a $35.00 price target on the stock. TD Cowen initiated coverage on shares of D-Wave Quantum in a research note on Thursday, February 12th. They set a "buy" rating on the stock. Benchmark restated a "buy" rating and set a $35.00 target price on shares of D-Wave Quantum in a research report on Friday, January 23rd. Canaccord Genuity Group set a $43.00 price target on D-Wave Quantum in a research note on Thursday, January 29th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $43.00 price target on shares of D-Wave Quantum in a report on Wednesday, January 28th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $36.50.

D-Wave Quantum Stock Performance

QBTS opened at $19.05 on Tuesday. The firm's fifty day simple moving average is $23.13 and its two-hundred day simple moving average is $25.10. D-Wave Quantum Inc. has a 52-week low of $4.49 and a 52-week high of $46.75. The company has a market cap of $7.05 billion, a price-to-earnings ratio of -17.32 and a beta of 1.61. The company has a quick ratio of 42.25, a current ratio of 42.38 and a debt-to-equity ratio of 0.04.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). D-Wave Quantum had a negative return on equity of 58.58% and a negative net margin of 1,444.10%.The company had revenue of $2.75 million for the quarter, compared to analyst estimates of $3.74 million. The business's revenue was up 21.7% on a year-over-year basis. Equities analysts anticipate that D-Wave Quantum Inc. will post -0.41 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.

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