Rockefeller Capital Management L.P. Trims Stock Position in D-Wave Quantum Inc. $QBTS

Key Points

• Rockefeller Capital Management cut its D-Wave Quantum stake by 14.3% in the fourth quarter, selling 26,111 shares and leaving it with 156,167 shares valued at about $4.08 million.
• Several other institutional investors also adjusted positions in QBTS, and hedge funds and other institutions still own about 42.47% of the stock.
• Analyst sentiment remains mostly positive: D-Wave has a Moderate Buy consensus rating with a $36.80 target, even as insiders have been selling shares and the company’s latest quarterly revenue fell sharply year over year.

Rockefeller Capital Management L.P. decreased its stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 14.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,167 shares of the company's stock after selling 26,111 shares during the period. Rockefeller Capital Management L.P.'s holdings in D-Wave Quantum were worth $4,084,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of QBTS. Huntington National Bank boosted its stake in D-Wave Quantum by 17.9% in the third quarter. Huntington National Bank now owns 3,300 shares of the company's stock valued at $82,000 after acquiring an additional 500 shares in the last quarter. Sigma Planning Corp increased its position in shares of D-Wave Quantum by 3.6% during the fourth quarter. Sigma Planning Corp now owns 16,329 shares of the company's stock worth $431,000 after purchasing an additional 560 shares in the last quarter. AlphaStar Capital Management LLC lifted its holdings in shares of D-Wave Quantum by 2.2% in the 4th quarter. AlphaStar Capital Management LLC now owns 27,063 shares of the company's stock valued at $708,000 after purchasing an additional 592 shares during the last quarter. Noble Wealth Management PBC lifted its holdings in shares of D-Wave Quantum by 6.7% in the 4th quarter. Noble Wealth Management PBC now owns 9,600 shares of the company's stock valued at $251,000 after purchasing an additional 600 shares during the last quarter. Finally, Thoroughbred Financial Services LLC boosted its position in shares of D-Wave Quantum by 0.5% in the 4th quarter. Thoroughbred Financial Services LLC now owns 131,852 shares of the company's stock valued at $3,447,000 after purchasing an additional 602 shares during the period. 42.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Mizuho lifted their price target on D-Wave Quantum from $29.00 to $35.00 and gave the stock an "outperform" rating in a research report on Monday, June 15th. Jefferies Financial Group reaffirmed a "buy" rating on shares of D-Wave Quantum in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of D-Wave Quantum from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday. Needham & Company LLC reiterated a "buy" rating and issued a $40.00 price objective on shares of D-Wave Quantum in a research report on Tuesday, June 2nd. Finally, Zacks Research raised shares of D-Wave Quantum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.80.

D-Wave Quantum News Roundup

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: D-Wave unveiled a first-of-its-kind error-aware quantum simulator and said developer access is planned for September 2026, which could strengthen its gate-model roadmap and support longer-term commercialization. D-Wave Advances Gate-Model Roadmap With First-of-its-Kind Stimulator
• Positive Sentiment: Analyst commentary has remained constructive, with Roth Capital recently raising its price target to $40 and keeping a Buy rating, reflecting confidence in D-Wave’s investor engagement and commercial story. D-Wave Quantum (QBTS) Says It Has a Key Edge Over Rivals; Is Wall Street Buying the Story?
• Positive Sentiment: One article argued that D-Wave’s commercial progress, bookings growth, and roadmap could help it outperform peers like Rigetti in the second half of 2026. QBTS or RGTI: Which Quantum Stock is Poised to Lead in H2 2026?
• Neutral Sentiment: Coverage around D-Wave’s recent weakness framed the stock move as a reaction to mixed signals: new U.S. quantum funding and executive orders create opportunity, but investors are also questioning whether the company’s dual-platform strategy and timing will translate into near-term results. D-Wave Quantum (QBTS) Is Down 11.3% After U.S. Quantum Orders And Dual-Platform Roadmap Shift
• Negative Sentiment: A recent article said QBTS “needed a win” after a disappointing earnings report, implying the market is still focused on losses, weak revenue versus expectations, and execution risk. How Does D-Wave’s New Simulator Change the Quantum Computing Landscape?
• Negative Sentiment: Another theme in the coverage is that while D-Wave has promising technology, some investors and analysts remain unconvinced that the simulator announcement alone will materially change the competitive landscape in the near term. D-Wave Advances Gate-Model Roadmap With First-of-its-Kind Stimulator

Insider Activity

In other D-Wave Quantum news, VP Sophie C. Ames sold 23,025 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $18.98, for a total transaction of $437,014.50. Following the transaction, the vice president owned 596,803 shares of the company's stock, valued at $11,327,320.94. This represents a 3.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rohit Ghai sold 13,518 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $26.41, for a total value of $357,010.38. Following the transaction, the director directly owned 23,617 shares in the company, valued at approximately $623,724.97. This represents a 36.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,363,842 shares of company stock valued at $35,802,656 in the last 90 days. Insiders own 1.30% of the company's stock.

D-Wave Quantum Trading Up 3.6%

D-Wave Quantum stock opened at $22.70 on Friday. The stock has a market cap of $8.40 billion, a PE ratio of -20.09 and a beta of 2.05. The company has a current ratio of 21.41, a quick ratio of 21.31 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $23.46 and a 200 day moving average price of $22.28. D-Wave Quantum Inc. has a 52 week low of $12.75 and a 52 week high of $46.75.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $2.86 million for the quarter, compared to analysts' expectations of $4.19 million. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The firm's revenue for the quarter was down 80.9% compared to the same quarter last year. During the same period last year, the company earned ($0.02) EPS. Equities research analysts predict that D-Wave Quantum Inc. will post -0.43 earnings per share for the current fiscal year.

D-Wave Quantum Company 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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