Squarepoint Ops LLC purchased a new position in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 236,742 shares of the company's stock, valued at approximately $1,989,000. Squarepoint Ops LLC owned 0.09% of D-Wave Quantum at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Tidal Investments LLC acquired a new stake in shares of D-Wave Quantum in the 4th quarter worth approximately $104,000. ProShare Advisors LLC raised its holdings in shares of D-Wave Quantum by 68.3% in the 4th quarter. ProShare Advisors LLC now owns 27,851 shares of the company's stock worth $234,000 after purchasing an additional 11,301 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of D-Wave Quantum by 9.8% in the 4th quarter. Nuveen Asset Management LLC now owns 481,708 shares of the company's stock worth $4,046,000 after purchasing an additional 43,159 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of D-Wave Quantum by 14.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,135 shares of the company's stock worth $472,000 after purchasing an additional 7,185 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of D-Wave Quantum in the 4th quarter worth approximately $193,000. 42.47% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
QBTS has been the topic of a number of research reports. Needham & Company LLC boosted their target price on shares of D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Roth Mkm boosted their target price on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, March 14th. B. Riley boosted their target price on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Finally, Benchmark boosted their target price on shares of D-Wave Quantum from $8.00 to $14.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $10.17.
View Our Latest Analysis on QBTS
D-Wave Quantum Stock Up 0.6%
Shares of QBTS stock traded up $0.09 during trading hours on Friday, reaching $16.36. 68,572,232 shares of the stock traded hands, compared to its average volume of 43,443,921. D-Wave Quantum Inc. has a 1-year low of $0.75 and a 1-year high of $19.77. The business has a fifty day moving average price of $9.59 and a 200 day moving average price of $7.20. The firm has a market capitalization of $4.78 billion, a PE ratio of -38.95 and a beta of 0.90.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The firm had revenue of $15.00 million for the quarter, compared to analyst estimates of $10.50 million. Research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.
Insider Activity
In other D-Wave Quantum news, Director Roger Biscay sold 15,675 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $16.58, for a total value of $259,891.50. Following the transaction, the director now owns 203,147 shares in the company, valued at approximately $3,368,177.26. This represents a 7.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John M. Markovich sold 400,000 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $17.30, for a total transaction of $6,920,000.00. Following the completion of the transaction, the chief financial officer now owns 1,577,944 shares in the company, valued at approximately $27,298,431.20. This represents a 20.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,358,009 shares of company stock worth $23,282,578 over the last 90 days. 7.22% of the stock is owned by company insiders.
About D-Wave Quantum
(
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.
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