John Markovich Sells 50,979 Shares of D-Wave Quantum (NYSE:QBTS) Stock

Key Points

• D-Wave Quantum CFO John Markovich sold 50,979 shares on June 8 at an average price of $26.24, totaling about $1.34 million. After the sale, he still held 1,388,933 shares, and the transaction reduced his position by 3.54%.
• The stock was slightly lower in trading, down 0.7% to $23.36, with recent trading volume below its average. Even after the pullback, QBTS remains highly volatile and has ranged from $12.75 to $46.75 over the past year.
• Wall Street sentiment remains mostly positive, with several analysts reiterating Buy ratings and price targets around $40, while MarketBeat reports an average target of $36.40. The company also recently beat EPS expectations, though revenue fell sharply year over year.

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) CFO John Markovich sold 50,979 shares of the company's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $26.24, for a total transaction of $1,337,688.96. Following the completion of the transaction, the chief financial officer owned 1,388,933 shares in the company, valued at approximately $36,445,601.92. The trade was a 3.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

D-Wave Quantum Stock Down 0.7%

D-Wave Quantum stock traded down $0.17 during mid-day trading on Wednesday, reaching $23.36. The stock had a trading volume of 20,703,271 shares, compared to its average volume of 32,410,734. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of -20.67 and a beta of 2.05. The company has a 50-day moving average price of $21.12 and a two-hundred day moving average price of $22.22. D-Wave Quantum Inc. has a one year low of $12.75 and a one year high of $46.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 21.41 and a quick ratio of 21.31.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03. The company had revenue of $2.86 million for the quarter, compared to analysts' expectations of $4.19 million. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. D-Wave Quantum's revenue was down 80.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) EPS. On average, analysts expect that D-Wave Quantum Inc. will post -0.43 EPS for the current fiscal year.

Trending Headlines about D-Wave Quantum

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: B. Riley remained bullish on D-Wave Quantum and raised its price target to $40 from $36, reinforcing the idea that Wall Street still sees meaningful upside. B. Riley is Bullish on D-Wave Quantum Inc. (QBTS)
• Positive Sentiment: Other analysts also remain constructive, with Rosenblatt reiterating a Buy rating and Canaccord, TD Cowen, and others continuing to back the stock, suggesting the longer-term quantum computing story is still intact. QBTS analyst and stock page
• Neutral Sentiment: One article highlighted that D-Wave has rewarded patient investors over time, but it also warned that recent buyers may be facing a difficult valuation reality after the stock’s strong rally. D-Wave Rewarded Patient Investors With 135% Gains but Recent Buyers Face a Brutal Reality
• Neutral Sentiment: Another piece said the stock’s decline reflected a rotation out of speculative growth names, rather than a company-specific negative development, which implies the move may be tied to market sentiment more than fundamentals. D-Wave Quantum Plummeted Today -- Is the Stock a Buy Right Now?
• Negative Sentiment: Insider selling added some pressure: Director John Dilullo sold 7,850 shares in a pre-arranged 10b5-1 plan, which can still weigh on sentiment even when routine. John Dilullo Sells 7,850 Shares of D-Wave Quantum NYSE: QBTS Stock
• Negative Sentiment: Some commentary also argued that legacy tech players like Intel and IBM could be better positioned than pure-play quantum firms such as D-Wave, which may be tempering investor enthusiasm. The Case for Intel Over Pure-Play Quantum Firms (QBTS)

Hedge Funds Weigh In On D-Wave Quantum

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of D-Wave Quantum by 41.2% during the third quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company's stock valued at $950,220,000 after buying an additional 11,218,255 shares during the period. UBS Group AG boosted its position in D-Wave Quantum by 541.6% during the third quarter. UBS Group AG now owns 12,089,703 shares of the company's stock valued at $298,737,000 after purchasing an additional 10,205,427 shares in the last quarter. Geode Capital Management LLC boosted its holdings in D-Wave Quantum by 11.5% in the fourth quarter. Geode Capital Management LLC now owns 8,394,726 shares of the company's stock worth $220,085,000 after acquiring an additional 866,405 shares in the last quarter. State Street Corp boosted its holdings in D-Wave Quantum by 5.3% in the fourth quarter. State Street Corp now owns 7,707,085 shares of the company's stock worth $201,540,000 after acquiring an additional 385,809 shares in the last quarter. Finally, Marex Group plc lifted its holdings in shares of D-Wave Quantum by 74.9% during the fourth quarter. Marex Group plc now owns 4,592,656 shares of the company's stock worth $120,098,000 after purchasing an additional 1,966,500 shares during the period. Hedge funds and other institutional investors own 42.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on QBTS shares. Jefferies Financial Group restated a "buy" rating on shares of D-Wave Quantum in a research note on Tuesday, May 12th. Cantor Fitzgerald reissued an "overweight" rating and issued a $40.00 target price on shares of D-Wave Quantum in a report on Wednesday, May 13th. B. Riley Financial upped their price target on D-Wave Quantum from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Northland Securities started coverage on D-Wave Quantum in a research report on Monday, April 20th. They set a "market perform" rating and a $22.00 target price for the company. Finally, Canaccord Genuity Group lowered their price target on D-Wave Quantum from $43.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, May 13th. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $36.40.

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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