SPX Gestao de Recursos Ltda Purchases New Position in D-Wave Quantum Inc. $QBTS

Key Points

• SPX Gestao de Recursos initiated a new position in D‑Wave (NYSE:QBTS), buying 44,000 shares worth about $1.09M in Q3, and institutional investors now own 42.47% of the company as several funds increased their stakes.
• Analysts maintain a "Moderate Buy" consensus with an average price target of $36.50; Cantor Fitzgerald raised its target to $40 while other brokers trimmed targets into the $30–$40 range.
• Insiders have been net sellers—967,466 shares (~$28.8M) sold in the past 90 days including notable sales by a director and the CFO—and D‑Wave recently missed quarterly expectations with EPS of -$0.09 (vs. -$0.05 est.) and revenue of $2.75M (vs. $3.74M est.).

SPX Gestao de Recursos Ltda acquired a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 44,000 shares of the company's stock, valued at approximately $1,087,000.

Several other institutional investors and hedge funds have also recently modified their holdings of QBTS. Baird Financial Group Inc. boosted its holdings in shares of D-Wave Quantum by 12.0% in the first quarter. Baird Financial Group Inc. now owns 12,135 shares of the company's stock valued at $92,000 after purchasing an additional 1,300 shares during the period. Royal Bank of Canada raised its position in D-Wave Quantum by 59.8% during the 1st quarter. Royal Bank of Canada now owns 162,088 shares of the company's stock valued at $1,231,000 after purchasing an additional 60,668 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of D-Wave Quantum by 201.0% in the 1st quarter. AQR Capital Management LLC now owns 200,765 shares of the company's stock worth $1,526,000 after buying an additional 134,066 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of D-Wave Quantum by 93.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company's stock worth $825,000 after purchasing an additional 52,437 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in D-Wave Quantum by 125.7% during the first quarter. NewEdge Advisors LLC now owns 43,786 shares of the company's stock valued at $333,000 after purchasing an additional 24,382 shares in the last quarter. Institutional investors own 42.47% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on QBTS. Cantor Fitzgerald boosted their target price on shares of D-Wave Quantum from $20.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, November 7th. Needham & Company LLC cut their price objective on shares of D-Wave Quantum from $48.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Roth Mkm decreased their target price on shares of D-Wave Quantum from $40.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Mizuho lowered their target price on shares of D-Wave Quantum from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, February 27th. Finally, Evercore assumed coverage on shares of D-Wave Quantum in a report on Wednesday, December 3rd. They issued an "outperform" rating and a $44.00 price target on the stock. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $36.50.

Insider Transactions at D-Wave Quantum

In other D-Wave Quantum news, Director Rohit Ghai sold 10,000 shares of D-Wave Quantum stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $24.28, for a total transaction of $242,800.00. Following the completion of the sale, the director directly owned 37,778 shares in the company, valued at approximately $917,249.84. The trade was a 20.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John M. Markovich sold 9,179 shares of the company's stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $28.06, for a total transaction of $257,562.74. Following the completion of the sale, the chief financial officer directly owned 1,462,133 shares in the company, valued at $41,027,451.98. This trade represents a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 967,466 shares of company stock worth $28,820,666 in the last ninety days. Corporate insiders own 3.20% of the company's stock.

D-Wave Quantum Stock Performance

Shares of QBTS stock opened at $18.62 on Friday. The business has a fifty day moving average of $23.27 and a 200 day moving average of $24.93. D-Wave Quantum Inc. has a 1 year low of $4.49 and a 1 year high of $46.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 42.38 and a quick ratio of 54.49. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of -16.93 and a beta of 1.61.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted 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 net margin of 1,444.10% and a negative return on equity of 58.58%. The firm had revenue of $2.75 million for the quarter, compared to analysts' expectations of $3.74 million. The company's revenue was up 21.7% on a year-over-year basis. As a group, research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current 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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