Insider Selling: D-Wave Quantum (NYSE:QBTS) VP Sells 3,070 Shares of Stock

Key Points

• Insider sale: D-Wave VP Sophie Ames sold 3,070 shares on April 20 at an average price of $21.35 under a pre-arranged Rule 10b5-1 plan, a 0.47% reduction that still leaves her with 643,678 shares (≈$13.7M).
• Stock and fundamentals: QBTS traded near $20.37 on heavy volume; the company recently missed quarterly estimates (EPS -$0.09 vs. -$0.05; revenue $2.75M vs. $3.74M) despite 21.7% YoY revenue growth, carries a negative PE, and has a consensus analyst target of $35.53 (average rating: Moderate Buy).

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) VP Sophie Ames sold 3,070 shares of D-Wave Quantum stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $21.35, for a total value of $65,544.50. Following the completion of the transaction, the vice president owned 643,678 shares of the company's stock, valued at approximately $13,742,525.30. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D-Wave Quantum Stock Performance

QBTS stock traded down $1.29 during midday trading on Tuesday, reaching $20.37. The company had a trading volume of 36,988,338 shares, compared to its average volume of 30,309,662. The company has a quick ratio of 42.25, a current ratio of 42.38 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $17.44 and a 200 day moving average price of $24.32. D-Wave Quantum Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $46.75. The firm has a market capitalization of $7.53 billion, a PE ratio of -18.52 and a beta of 1.78.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The business had revenue of $2.75 million for 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 company's revenue was up 21.7% compared to the same quarter last year. Analysts anticipate that D-Wave Quantum Inc. will post -0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC reduced their price objective on D-Wave Quantum from $48.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Roth Mkm reduced their price objective on D-Wave Quantum from $40.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Benchmark reiterated a "buy" rating and set a $35.00 price objective on shares of D-Wave Quantum in a research report on Friday, January 23rd. Canaccord Genuity Group set a $43.00 price objective on D-Wave Quantum in a research report on Thursday, January 29th. Finally, Wall Street Zen downgraded D-Wave Quantum from a "hold" rating to a "sell" rating in a research report on Saturday, February 7th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, D-Wave Quantum has an average rating of "Moderate Buy" and a consensus target price of $35.53.

Institutional Investors Weigh In On D-Wave Quantum

Institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its position in D-Wave Quantum by 125.7% in the second quarter. Osaic Holdings Inc. now owns 247,004 shares of the company's stock worth $3,616,000 after purchasing an additional 137,549 shares during the period. UNICOM Systems Inc. lifted its position in D-Wave Quantum by 12.1% in the third quarter. UNICOM Systems Inc. now owns 3,121,346 shares of the company's stock worth $77,128,000 after purchasing an additional 337,838 shares during the period. Csenge Advisory Group lifted its position in D-Wave Quantum by 99.1% in the third quarter. Csenge Advisory Group now owns 35,886 shares of the company's stock worth $887,000 after purchasing an additional 17,860 shares during the period. Mutual Advisors LLC acquired a new stake in D-Wave Quantum in the third quarter worth approximately $1,069,000. Finally, Federated Hermes Inc. increased its holdings in shares of D-Wave Quantum by 259,560.6% in the third quarter. Federated Hermes Inc. now owns 184,359 shares of the company's stock valued at $4,556,000 after buying an additional 184,288 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

About D-Wave Quantum

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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