Raymond James Financial Inc. Has $3.31 Million Holdings in D-Wave Quantum Inc. $QBTS

Raymond James Financial Inc. raised its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 75.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 435,664 shares of the company's stock after purchasing an additional 187,191 shares during the period. Raymond James Financial Inc. owned 0.15% of D-Wave Quantum worth $3,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. lifted its position in D-Wave Quantum by 786.8% during the 1st quarter. Vontobel Holding Ltd. now owns 110,850 shares of the company's stock valued at $842,000 after purchasing an additional 98,350 shares during the period. Kingswood Wealth Advisors LLC acquired a new position in D-Wave Quantum during the 1st quarter valued at about $167,000. Swiss National Bank acquired a new position in D-Wave Quantum during the 1st quarter valued at about $3,532,000. Verity Asset Management Inc. acquired a new position in D-Wave Quantum during the 1st quarter valued at about $251,000. Finally, Deutsche Bank AG lifted its position in D-Wave Quantum by 35.0% during the 4th quarter. Deutsche Bank AG now owns 73,906 shares of the company's stock valued at $621,000 after purchasing an additional 19,157 shares during the period. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on QBTS shares. Cantor Fitzgerald assumed coverage on shares of D-Wave Quantum in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $20.00 target price on the stock. Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a report on Wednesday, June 18th. Canaccord Genuity Group assumed coverage on shares of D-Wave Quantum in a report on Wednesday, July 23rd. They set a "buy" rating and a $20.00 price objective for the company. Roth Capital restated a "buy" rating on shares of D-Wave Quantum in a report on Friday, June 13th. Finally, B. Riley boosted their price objective on shares of D-Wave Quantum from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Eleven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $19.27.

Insider Buying and Selling at D-Wave Quantum

In related news, Director Roger Biscay sold 106,626 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.85, for a total transaction of $1,796,648.10. Following the completion of the sale, the director directly owned 14,260 shares of the company's stock, valued at approximately $240,281. This represents a 88.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John D. Dilullo sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $16.40, for a total transaction of $246,000.00. Following the transaction, the director directly owned 44,295 shares of the company's stock, valued at $726,438. This represents a 25.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 378,787 shares of company stock worth $6,389,513 in the last quarter. Company insiders own 3.20% of the company's stock.

D-Wave Quantum Price Performance

NYSE QBTS opened at $15.36 on Monday. The business has a 50 day simple moving average of $16.72 and a 200 day simple moving average of $12.58. D-Wave Quantum Inc. has a 52-week low of $0.80 and a 52-week high of $20.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of -14.63 and a beta of 1.40.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The business had revenue of $3.10 million for the quarter, compared to the consensus estimate of $2.55 million. D-Wave Quantum's revenue for the quarter was up 40.9% on a year-over-year basis. 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 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.

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