UBS Group AG Lowers Holdings in D-Wave Quantum Inc. $QBTS

Key Points

• UBS Group AG cut its position in D-Wave by 15.1% in Q4, selling 1,826,269 shares and leaving it with 10,263,434 shares (about 2.93% of the company) valued at roughly $268.4 million.
• Other institutions moved aggressively—Vanguard increased its stake by 41.2% to 38,454,869 shares (≈$950.2M)—and overall institutional ownership stands at 42.47%.
• D-Wave missed Q4 estimates (EPS -$0.09 vs. -$0.05 consensus; revenue $2.75M vs. $3.74M), insiders sold 31,776 shares (~$574.6k) last quarter, and analysts hold a consensus "Moderate Buy" with a $35.53 target price.

UBS Group AG decreased its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 15.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,263,434 shares of the company's stock after selling 1,826,269 shares during the quarter. UBS Group AG owned about 2.93% of D-Wave Quantum worth $268,389,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of D-Wave Quantum by 41.2% during the 3rd quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company's stock worth $950,220,000 after purchasing an additional 11,218,255 shares during the period. Clear Street Group Inc. acquired a new position in D-Wave Quantum in the third quarter valued at about $75,344,000. State Street Corp lifted its position in D-Wave Quantum by 41.3% in the second quarter. State Street Corp now owns 6,648,395 shares of the company's stock valued at $97,333,000 after buying an additional 1,941,762 shares during the last quarter. Man Group plc acquired a new stake in shares of D-Wave Quantum during the second quarter valued at about $26,535,000. Finally, SG Americas Securities LLC increased its position in shares of D-Wave Quantum by 254.7% during the fourth quarter. SG Americas Securities LLC now owns 2,272,020 shares of the company's stock valued at $59,413,000 after acquiring an additional 1,631,415 shares during the last quarter. Institutional investors and hedge funds own 42.47% of the company's stock.

Insider Buying and Selling

In other D-Wave Quantum news, CFO John M. Markovich sold 10,706 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $17.63, for a total value of $188,746.78. Following the sale, the chief financial officer directly owned 1,451,427 shares of the company's stock, valued at approximately $25,588,658.01. This represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $18.01, for a total transaction of $144,080.00. Following the sale, the director directly owned 19,803 shares of the company's stock, valued at approximately $356,652.03. This trade represents a 28.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,776 shares of company stock worth $574,571 in the last quarter. Company insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

QBTS has been the topic of several recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of D-Wave Quantum in a report on Friday, March 27th. Needham & Company LLC cut their target price on 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. TD Cowen assumed coverage on D-Wave Quantum in a research report on Thursday, February 12th. They set a "buy" rating for the company. Northland Securities assumed coverage on D-Wave Quantum in a research note on Monday, April 20th. They issued a "market perform" rating and a $22.00 price objective for the company. Finally, Rosenblatt Securities reissued a "buy" rating and set a $43.00 target price on shares of D-Wave Quantum in a research note on Wednesday, January 28th. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, D-Wave Quantum has a consensus rating of "Moderate Buy" and a consensus target price of $35.53.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $18.09 on Wednesday. The company has a quick ratio of 42.25, a current ratio of 42.38 and a debt-to-equity ratio of 0.04. D-Wave Quantum Inc. has a 52-week low of $6.52 and a 52-week high of $46.75. The firm has a market cap of $6.69 billion, a PE ratio of -16.45 and a beta of 1.78. The company's 50 day moving average is $17.43 and its two-hundred day moving average is $23.69.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The business had revenue of $2.75 million during the quarter, compared to analyst estimates of $3.74 million. D-Wave Quantum had a negative return on equity of 58.58% and a negative net margin of 1,444.10%.The business's revenue for the quarter was up 21.7% compared to the same quarter last year. On average, research analysts expect that D-Wave Quantum Inc. will post -0.44 EPS 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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