John M. Markovich Sells 400,000 Shares of D-Wave Quantum Inc. (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) CFO John M. Markovich sold 400,000 shares of D-Wave Quantum stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $17.30, for a total value of $6,920,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,577,944 shares of the company's stock, valued at approximately $27,298,431.20. This represents a 20.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

D-Wave Quantum Price Performance

Shares of QBTS stock traded down $0.29 during trading hours on Friday, reaching $18.76. 148,422,253 shares of the stock were exchanged, compared to its average volume of 42,138,393. The business's fifty day moving average is $8.60 and its two-hundred day moving average is $6.54. The firm has a market capitalization of $5.46 billion, a P/E ratio of -44.65 and a beta of 0.90. D-Wave Quantum Inc. has a 12-month low of $0.75 and a 12-month high of $20.27.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The firm had revenue of $15.00 million during the quarter, compared to analysts' expectations of $10.50 million. As a group, equities research analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QBTS. Needham & Company LLC increased their price target on shares of D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. B. Riley upped their target price on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Benchmark raised their price target on shares of D-Wave Quantum from $8.00 to $14.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Finally, Roth Mkm boosted their price target on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $10.17.

Institutional Trading of D-Wave Quantum

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its position in shares of D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company's stock worth $117,000 after acquiring an additional 89,894 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in D-Wave Quantum in the fourth quarter valued at approximately $162,000. Traynor Capital Management Inc. purchased a new position in D-Wave Quantum in the fourth quarter valued at approximately $219,000. Veracity Capital LLC purchased a new stake in shares of D-Wave Quantum during the 4th quarter worth approximately $228,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of D-Wave Quantum in the 4th quarter valued at $233,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

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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