Arkadios Wealth Advisors Acquires New Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

Arkadios Wealth Advisors acquired a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,245 shares of the company’s stock, valued at approximately $162,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sovereign Financial Group Inc. bought a new position in D-Wave Quantum during the fourth quarter valued at approximately $179,000. Silverleafe Capital Partners LLC bought a new position in D-Wave Quantum during the fourth quarter valued at approximately $820,000. Barclays PLC raised its position in D-Wave Quantum by 298.3% in the third quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after acquiring an additional 89,894 shares during the period. Geode Capital Management LLC raised its position in D-Wave Quantum by 33.8% in the third quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock worth $2,513,000 after acquiring an additional 645,039 shares during the period. Finally, State Street Corp raised its position in D-Wave Quantum by 0.9% in the third quarter. State Street Corp now owns 2,020,977 shares of the company’s stock worth $1,986,000 after acquiring an additional 17,225 shares during the period. Institutional investors own 42.47% of the company’s stock.

Insider Activity at D-Wave Quantum

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 1,000,000 shares of D-Wave Quantum stock in a transaction on Friday, December 20th. The shares were sold at an average price of $6.68, for a total value of $6,680,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 20,138,711 shares of company stock valued at $92,022,537. Corporate insiders own 7.22% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on QBTS shares. Craig Hallum increased their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Roth Mkm increased their price target on shares of D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Needham & Company LLC reiterated a “buy” rating and issued a $2.25 price target on shares of D-Wave Quantum in a research report on Friday, November 15th. Benchmark reiterated a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a research report on Tuesday, January 14th. Finally, B. Riley increased their price objective on shares of D-Wave Quantum from $4.50 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum currently has a consensus rating of “Buy” and an average price target of $6.38.

D-Wave Quantum Stock Performance

QBTS opened at $6.10 on Friday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -14.51 and a beta of 1.16. The company has a fifty day moving average of $5.56 and a 200 day moving average of $2.62. D-Wave Quantum Inc. has a fifty-two week low of $0.71 and a fifty-two week high of $11.41.

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.