Barclays PLC Grows Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

Barclays PLC grew its stake in D-Wave Quantum Inc. (NYSE:QBTS) by 298.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 120,029 shares of the company’s stock after acquiring an additional 89,894 shares during the period. Barclays PLC’s holdings in D-Wave Quantum were worth $117,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in QBTS. Bank of New York Mellon Corp purchased a new stake in shares of D-Wave Quantum in the 2nd quarter valued at approximately $251,000. Rhumbline Advisers acquired a new position in shares of D-Wave Quantum in the second quarter valued at approximately $93,000. Thoroughbred Financial Services LLC acquired a new position in shares of D-Wave Quantum in the second quarter valued at approximately $45,000. XTX Topco Ltd acquired a new position in shares of D-Wave Quantum in the second quarter valued at approximately $163,000. Finally, Marshall Wace LLP acquired a new position in shares of D-Wave Quantum in the second quarter valued at approximately $265,000. 42.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $4.21, for a total value of $35,522,266.53. Following the completion of the transaction, the insider now owns 1,000,000 shares in the company, valued at approximately $4,210,000. This represents a 89.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 10,081,459 shares of company stock worth $45,337,894. Corporate insiders own 7.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on QBTS. Benchmark lifted their price objective on shares of D-Wave Quantum from $3.00 to $8.00 and gave the company a “buy” rating in a report on Friday, December 20th. Craig Hallum boosted their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 20th. B. Riley boosted their price target on shares of D-Wave Quantum from $3.75 to $4.50 and gave the stock a “buy” rating in a report on Monday, November 25th. Needham & Company LLC reiterated a “buy” rating and set a $2.25 price target on shares of D-Wave Quantum in a report on Friday, November 15th. Finally, Roth Mkm boosted their price target on shares of D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, D-Wave Quantum presently has an average rating of “Buy” and a consensus price target of $5.63.

D-Wave Quantum Trading Down 36.1 %

Shares of D-Wave Quantum stock opened at $6.10 on Thursday. The company has a fifty day simple moving average of $4.64 and a 200-day simple moving average of $2.28. D-Wave Quantum Inc. has a 12-month low of $0.68 and a 12-month high of $11.41. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -14.52 and a beta of 1.16.

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.