Sector Pension Investme Public Sells 8,437,593 Shares of D-Wave Quantum Inc. (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS) major shareholder Sector Pension Investme Public sold 8,437,593 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $4.21, for a total value of $35,522,266.53. Following the completion of the sale, the insider now owns 1,000,000 shares of the company’s stock, valued at $4,210,000. This represents a 89.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Sector Pension Investme Public also recently made the following trade(s):

• On Tuesday, December 10th, Sector Pension Investme Public sold 643,866 shares of D-Wave Quantum stock. The stock was sold at an average price of $4.87, for a total value of $3,135,627.42.

D-Wave Quantum Price Performance

Shares of QBTS opened at $5.00 on Friday. The company has a market capitalization of $1.12 billion, a P/E ratio of -11.89 and a beta of 1.79. D-Wave Quantum Inc. has a one year low of $0.68 and a one year high of $5.38. The business’s 50 day simple moving average is $1.99 and its 200-day simple moving average is $1.38.

Analysts Set New Price Targets

Several analysts have recently weighed in on QBTS shares. Needham & Company LLC reiterated a “buy” rating and set a $2.25 target price on shares of D-Wave Quantum in a research report on Friday, November 15th. Roth Mkm raised their target price on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, B. Riley upped their price target on D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $3.71.

Hedge Funds Weigh In On D-Wave Quantum

A number of institutional investors and hedge funds have recently bought and sold shares of QBTS. Baader Bank Aktiengesellschaft bought a new stake in shares of D-Wave Quantum during the second quarter valued at approximately $28,000. SG Americas Securities LLC acquired a new position in D-Wave Quantum during the 3rd quarter worth $42,000. Thoroughbred Financial Services LLC bought a new position in D-Wave Quantum in the 2nd quarter valued at $45,000. Bogart Wealth LLC acquired a new stake in shares of D-Wave Quantum in the 3rd quarter valued at $49,000. Finally, Instrumental Wealth LLC increased its stake in shares of D-Wave Quantum by 85.9% in the 2nd quarter. Instrumental Wealth LLC now owns 54,240 shares of the company’s stock valued at $62,000 after buying an additional 25,067 shares during the period. Institutional investors and hedge funds own 42.47% of the company’s stock.

D-Wave Quantum Company 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.