D-Wave Quantum Inc. (NYSE:QBTS) Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC boosted its stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 80.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,068,199 shares of the company's stock after acquiring an additional 2,253,741 shares during the quarter. Penserra Capital Management LLC owned about 1.74% of D-Wave Quantum worth $38,518,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Summit Investment Advisors Inc. grew its holdings in D-Wave Quantum by 20.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company's stock valued at $87,000 after purchasing an additional 1,766 shares in the last quarter. Invesco Ltd. grew its stake in shares of D-Wave Quantum by 5.1% during the fourth quarter. Invesco Ltd. now owns 42,619 shares of the company's stock valued at $358,000 after acquiring an additional 2,051 shares in the last quarter. Corebridge Financial Inc. increased its position in shares of D-Wave Quantum by 5.0% during the fourth quarter. Corebridge Financial Inc. now owns 49,174 shares of the company's stock worth $413,000 after acquiring an additional 2,342 shares during the last quarter. Veracity Capital LLC lifted its stake in shares of D-Wave Quantum by 9.3% in the first quarter. Veracity Capital LLC now owns 29,725 shares of the company's stock worth $226,000 after acquiring an additional 2,532 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of D-Wave Quantum in the fourth quarter worth about $26,000. Institutional investors and hedge funds own 42.47% of the company's stock.

Insider Transactions at D-Wave Quantum

In related news, CFO John M. Markovich sold 400,000 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $17.30, for a total value of $6,920,000.00. Following the completion of the sale, the chief financial officer owned 1,577,944 shares of the company's stock, valued at $27,298,431.20. This represents a 20.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kirstjen Nielsen sold 13,000 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $16.04, for a total transaction of $208,520.00. Following the transaction, the director directly owned 119,673 shares in the company, valued at approximately $1,919,554.92. The trade was a 9.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,636,796 shares of company stock valued at $27,872,091 over the last three months. 3.20% of the stock is currently owned by company insiders.

D-Wave Quantum Trading Down 0.1%

Shares of NYSE:QBTS traded down $0.02 during trading on Monday, reaching $16.77. 35,819,220 shares of the company's stock traded hands, compared to its average volume of 48,180,435. D-Wave Quantum Inc. has a 12 month low of $0.75 and a 12 month high of $19.77. The company has a 50 day moving average of $14.08 and a 200-day moving average of $9.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 20.73 and a quick ratio of 20.61.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on QBTS shares. Roth Capital reaffirmed a "buy" rating on shares of D-Wave Quantum in a research report on Friday, June 13th. Needham & Company LLC upped their price target on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a "buy" rating in a report on Friday, May 9th. Cantor Fitzgerald assumed coverage on shares of D-Wave Quantum in a report on Wednesday, July 2nd. They set an "overweight" rating and a $20.00 price objective for the company. 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. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, D-Wave Quantum presently has a consensus rating of "Buy" and a consensus target price of $14.38.

D-Wave Quantum Company 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.