D-Wave Quantum Inc. (NYSE:QBTS) Shares Bought by UNICOM Systems Inc.

UNICOM Systems Inc. increased its holdings in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 91.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,627,704 shares of the company's stock after purchasing an additional 2,216,000 shares during the quarter. D-Wave Quantum accounts for 7.2% of UNICOM Systems Inc.'s investment portfolio, making the stock its 5th biggest position. UNICOM Systems Inc. owned 1.59% of D-Wave Quantum worth $35,171,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in QBTS. Vanguard Group Inc. grew its holdings in D-Wave Quantum by 103.7% in the 4th quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company's stock worth $59,794,000 after acquiring an additional 3,624,407 shares during the last quarter. Penserra Capital Management LLC grew its holdings in D-Wave Quantum by 80.1% in the 1st quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company's stock worth $38,518,000 after acquiring an additional 2,253,741 shares during the last quarter. Geode Capital Management LLC grew its holdings in D-Wave Quantum by 16.4% in the 4th quarter. Geode Capital Management LLC now owns 2,974,395 shares of the company's stock worth $24,992,000 after acquiring an additional 418,468 shares during the last quarter. Bank of America Corp DE grew its holdings in D-Wave Quantum by 4,912.4% in the 4th quarter. Bank of America Corp DE now owns 2,548,099 shares of the company's stock worth $21,404,000 after acquiring an additional 2,497,263 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in D-Wave Quantum by 25.9% in the 4th quarter. Northern Trust Corp now owns 978,087 shares of the company's stock worth $8,216,000 after acquiring an additional 201,091 shares during the last quarter. Hedge funds and other institutional investors own 42.47% of the company's stock.

Insider Buying and Selling

In related news, CEO Alan E. Baratz sold 845,813 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $17.00, for a total value of $14,378,821.00. Following the transaction, the chief executive officer owned 2,866,412 shares of the company's stock, valued at $48,729,004. This trade represents a 22.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Roger Biscay sold 106,626 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $16.85, for a total transaction of $1,796,648.10. Following the transaction, the director owned 14,260 shares in the company, valued at approximately $240,281. The trade was a 88.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,636,796 shares of company stock worth $27,872,091 over the last ninety days. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on QBTS shares. Williams Trading set a $20.00 price target on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Benchmark reaffirmed a "buy" rating and issued a $20.00 target price (up from $14.00) on shares of D-Wave Quantum in a report on Tuesday, June 17th. Cantor Fitzgerald started coverage on shares of D-Wave Quantum in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $20.00 target price for the company. Needham & Company LLC lifted 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. Finally, Roth Capital reaffirmed a "buy" rating on shares of D-Wave Quantum in a report on Friday, June 13th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum currently has a consensus rating of "Buy" and an average price target of $14.38.

D-Wave Quantum Price Performance

D-Wave Quantum stock traded up $0.37 during mid-day trading on Tuesday, reaching $16.20. 31,495,567 shares of the company's stock traded hands, compared to its average volume of 48,792,119. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -26.99 and a beta of 1.40. The stock has a 50 day moving average of $15.13 and a two-hundred day moving average of $9.72. The company has a quick ratio of 20.61, a current ratio of 20.73 and a debt-to-equity ratio of 0.15. D-Wave Quantum Inc. has a 12-month low of $0.75 and a 12-month high of $19.77.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. D-Wave Quantum had a negative net margin of 617.84% and a negative return on equity of 227.95%. The business had revenue of $15.00 million for the quarter, compared to the consensus estimate of $10.50 million. Equities analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

D-Wave Quantum Profile

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.