D-Wave Quantum Inc. (NYSE:QBTS) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC lowered its stake in D-Wave Quantum Inc. (NYSE:QBTS) by 31.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,000 shares of the company’s stock after selling 13,500 shares during the period. Thoroughbred Financial Services LLC’s holdings in D-Wave Quantum were worth $252,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Arete Wealth Advisors LLC lifted its holdings in shares of D-Wave Quantum by 1,300.0% during the fourth quarter. Arete Wealth Advisors LLC now owns 227,798 shares of the company’s stock valued at $1,913,000 after purchasing an additional 211,527 shares during the last quarter. Geode Capital Management LLC lifted its stake in D-Wave Quantum by 16.4% during the fourth quarter. Geode Capital Management LLC now owns 2,974,395 shares of the company’s stock valued at $24,992,000 after buying an additional 418,468 shares in the last quarter. Hall Kathryn A. acquired a new position in shares of D-Wave Quantum in the fourth quarter worth about $329,000. Blair William & Co. IL increased its position in shares of D-Wave Quantum by 29.9% in the fourth quarter. Blair William & Co. IL now owns 27,935 shares of the company’s stock worth $235,000 after acquiring an additional 6,435 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of D-Wave Quantum by 20.6% during the fourth quarter. JPMorgan Chase & Co. now owns 46,804 shares of the company’s stock valued at $393,000 after acquiring an additional 8,001 shares during the period. 42.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on QBTS shares. Roth Mkm lifted their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Benchmark reissued a “buy” rating and issued a $8.00 price objective on shares of D-Wave Quantum in a research note on Friday, March 14th. Craig Hallum lifted their target price on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and issued a $8.50 price target on shares of D-Wave Quantum in a research report on Wednesday, April 2nd. Finally, B. Riley raised their price target on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $8.42.

D-Wave Quantum Stock Performance

Shares of NYSE QBTS opened at $6.29 on Monday. The business has a 50 day simple moving average of $6.74 and a 200 day simple moving average of $4.70. D-Wave Quantum Inc. has a 52 week low of $0.75 and a 52 week high of $11.95. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -14.98 and a beta of 0.88.

D-Wave Quantum (NYSE:QBTS) last posted its earnings results on Thursday, March 13th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The business had revenue of $2.31 million during the quarter, compared to the consensus estimate of $2.23 million. On average, analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $44,120.44. Following the transaction, the chief executive officer now directly owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. The trade was a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Sector Pension Investme Public sold 2,778,564 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $6.14, for a total value of $17,060,382.96. Following the sale, the insider now owns 37,278,688 shares of the company’s stock, valued at approximately $228,891,144.32. The trade was a 6.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,071,206 shares of company stock valued at $46,758,181 over the last 90 days. 7.22% of the stock is currently owned by company insiders.

D-Wave Quantum 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.