UNICOM Systems Inc. Purchases 337,838 Shares of D-Wave Quantum Inc. $QBTS

Key Points

• UNICOM Systems bought an additional 337,838 shares, raising its holding to 3,121,346 shares (7.6% of UNICOM’s portfolio) — about 0.91% of D‑Wave and valued at roughly $77.13 million.
• Company insiders sold 2,342,087 shares (~$66.07M) last quarter, including CEO Alan E. Baratz (806,288 shares, ~$23.28M) and CFO John Markovich (200,000 shares, ~$4.59M), reducing their ownership stakes.
• Analysts have raised price targets (recently in the $35–$41 range) to a consensus "Moderate Buy" with a $33.67 target; D‑Wave also beat quarterly EPS and revenue estimates with revenue up 105.6% YoY, but remains unprofitable.

UNICOM Systems Inc. lifted its position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 12.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,121,346 shares of the company's stock after purchasing an additional 337,838 shares during the period. D-Wave Quantum comprises 7.6% of UNICOM Systems Inc.'s investment portfolio, making the stock its 6th largest holding. UNICOM Systems Inc. owned approximately 0.91% of D-Wave Quantum worth $77,128,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in D-Wave Quantum by 41.3% during the 2nd quarter. State Street Corp now owns 6,648,395 shares of the company's stock worth $97,333,000 after acquiring an additional 1,941,762 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of D-Wave Quantum by 41.6% during the second quarter. Geode Capital Management LLC now owns 6,411,558 shares of the company's stock worth $93,877,000 after purchasing an additional 1,883,109 shares during the period. Marex Group plc bought a new stake in shares of D-Wave Quantum in the second quarter worth $80,070,000. Arrowstreet Capital Limited Partnership acquired a new stake in D-Wave Quantum in the second quarter valued at $45,372,000. Finally, Man Group plc acquired a new stake in D-Wave Quantum in the second quarter valued at $26,535,000. Institutional investors own 42.47% of the company's stock.

D-Wave Quantum Trading Up 7.4%

NYSE QBTS opened at $28.08 on Friday. The stock has a market capitalization of $9.83 billion, a P/E ratio of -20.80 and a beta of 1.57. The business has a 50 day simple moving average of $26.84 and a 200 day simple moving average of $23.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. D-Wave Quantum Inc. has a one year low of $3.74 and a one year high of $46.75.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The firm had revenue of $3.74 million for the quarter, compared to analyst estimates of $3.03 million. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.D-Wave Quantum's revenue for the quarter was up 105.6% on a year-over-year basis. Research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Activity at D-Wave Quantum

In other news, CEO Alan E. Baratz sold 806,288 shares of the company's stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $28.87, for a total transaction of $23,277,534.56. Following the transaction, the chief executive officer owned 2,801,265 shares in the company, valued at approximately $80,872,520.55. This represents a 22.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John M. Markovich sold 200,000 shares of the firm's stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $22.94, for a total value of $4,588,000.00. Following the completion of the sale, the chief financial officer owned 1,482,874 shares of the company's stock, valued at approximately $34,017,129.56. This represents a 11.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,342,087 shares of company stock worth $66,073,024 in the last quarter. Company insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on QBTS. Benchmark lifted their target price on D-Wave Quantum from $20.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, November 10th. Wedbush assumed coverage on D-Wave Quantum in a research report on Wednesday, December 17th. They set an "outperform" rating and a $35.00 price objective for the company. Zacks Research upgraded D-Wave Quantum from a "strong sell" rating to a "hold" rating in a report on Thursday, November 6th. Canaccord Genuity Group increased their target price on shares of D-Wave Quantum from $20.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, November 7th. Finally, Rosenblatt Securities boosted their price target on shares of D-Wave Quantum from $30.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, November 7th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $33.67.

D-Wave Quantum 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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