Total Clarity Wealth Management Inc. Acquires New Holdings in D-Wave Quantum Inc. $QBTS

Key Points

• Total Clarity Wealth Management Inc. acquired 65,701 shares of D-Wave Quantum Inc. during the 2nd quarter, valued at approximately $962,000.
• Several institutional investors significantly increased their holdings in D-Wave Quantum, with Vanguard Group Inc. raising its stake by 58.5% during the first quarter.
• D-Wave Quantum experienced a 5.8% decline in stock price recently, opening at $33.04 with a fifty-two week high of $39.55.

Total Clarity Wealth Management Inc. purchased a new position in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 65,701 shares of the company's stock, valued at approximately $962,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in D-Wave Quantum by 58.5% in the first quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company's stock worth $85,766,000 after purchasing an additional 4,166,721 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of D-Wave Quantum by 80.1% during the first quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company's stock worth $38,518,000 after buying an additional 2,253,741 shares during the period. UNICOM Systems Inc. lifted its stake in shares of D-Wave Quantum by 91.9% during the first quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company's stock worth $35,171,000 after buying an additional 2,216,000 shares during the period. Northern Trust Corp lifted its stake in shares of D-Wave Quantum by 63.4% during the first quarter. Northern Trust Corp now owns 1,597,981 shares of the company's stock worth $12,145,000 after buying an additional 619,894 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of D-Wave Quantum during the first quarter worth $8,064,000. 42.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at D-Wave Quantum

In other news, CFO John M. Markovich sold 50,000 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $16.30, for a total transaction of $815,000.00. Following the completion of the sale, the chief financial officer owned 1,599,511 shares of the company's stock, valued at $26,072,029.30. The trade was a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rohit Ghai sold 10,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $179,300.00. Following the sale, the director directly owned 47,778 shares of the company's stock, valued at approximately $856,659.54. This represents a 17.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,000 shares of company stock valued at $2,937,740 over the last 90 days. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

QBTS has been the subject of several research reports. Wall Street Zen downgraded shares of D-Wave Quantum from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Weiss Ratings restated a "sell (d-)" rating on shares of D-Wave Quantum in a research report on Saturday, September 27th. Williams Trading set a $20.00 target price on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Benchmark restated a "buy" rating and set a $20.00 target price on shares of D-Wave Quantum in a research report on Monday, August 4th. Finally, Zacks Research downgraded shares of D-Wave Quantum from a "hold" rating to a "strong sell" rating in a research report on Monday, October 6th. Eleven research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, D-Wave Quantum presently has an average rating of "Moderate Buy" and a consensus price target of $20.27.

D-Wave Quantum Stock Down 5.8%

QBTS opened at $33.04 on Monday. D-Wave Quantum Inc. has a fifty-two week low of $0.88 and a fifty-two week high of $39.55. 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 company has a fifty day moving average of $20.91 and a two-hundred day moving average of $15.78. The stock has a market capitalization of $11.30 billion, a price-to-earnings ratio of -31.47 and a beta of 1.49.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The firm had revenue of $3.10 million during the quarter, compared to analysts' expectations of $2.55 million. The firm's revenue for the quarter was up 40.9% compared to the same quarter last year. On average, research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

About D-Wave Quantum

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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