Southland Equity Partners LLC purchased a new stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,342 shares of the company's stock, valued at approximately $155,000.
A number of other large investors also recently bought and sold shares of the stock. Fourth Dimension Wealth LLC purchased a new stake in shares of D-Wave Quantum in the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. purchased a new stake in shares of D-Wave Quantum during the fourth quarter worth approximately $38,000. Heritage Wealth Advisors purchased a new stake in shares of D-Wave Quantum during the fourth quarter worth approximately $67,000. Kingsview Wealth Management LLC purchased a new stake in shares of D-Wave Quantum during the fourth quarter worth approximately $84,000. Finally, Summit Investment Advisors Inc. increased its position in shares of D-Wave Quantum by 20.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company's stock worth $87,000 after purchasing an additional 1,766 shares in the last quarter. 42.47% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CFO John M. Markovich sold 400,000 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $17.30, for a total transaction of $6,920,000.00. Following the transaction, the chief financial officer now owns 1,577,944 shares of the company's stock, valued at approximately $27,298,431.20. This represents a 20.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger Biscay sold 96,521 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $17.86, for a total value of $1,723,865.06. Following the completion of the sale, the director now directly owns 106,626 shares in the company, valued at $1,904,340.36. This represents a 47.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,358,009 shares of company stock valued at $23,282,578. Corporate insiders own 3.20% of the company's stock.
Analysts Set New Price Targets
QBTS has been the subject of several research reports. Needham & Company LLC boosted their price target on D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Roth Mkm boosted their price target on D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Benchmark boosted their price target on D-Wave Quantum from $8.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. B. Riley boosted their price target on D-Wave Quantum from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Finally, Roth Capital restated a "buy" rating on shares of D-Wave Quantum in a report on Friday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $10.17.
Check Out Our Latest Analysis on QBTS
D-Wave Quantum Stock Performance
Shares of D-Wave Quantum stock traded up $0.86 during trading hours on Monday, hitting $16.03. The company's stock had a trading volume of 59,024,701 shares, compared to its average volume of 46,086,905. D-Wave Quantum Inc. has a twelve month low of $0.75 and a twelve month high of $19.77. The firm has a fifty day moving average of $11.54 and a 200-day moving average of $8.31. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of -38.18 and a beta of 1.49.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The business had revenue of $15.00 million during the quarter, compared to analyst estimates of $10.50 million. On average, sell-side analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.
D-Wave Quantum Profile
(
Free Report)
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.
Featured Stories
Before you consider D-Wave Quantum, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and D-Wave Quantum wasn't on the list.
While D-Wave Quantum currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
