Victory Capital Management Inc. Grows Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

Victory Capital Management Inc. grew its stake in D-Wave Quantum Inc. (NYSE:QBTS) by 55.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,399 shares of the company’s stock after buying an additional 10,444 shares during the period. Victory Capital Management Inc.’s holdings in D-Wave Quantum were worth $247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of QBTS. Penserra Capital Management LLC grew its stake in D-Wave Quantum by 23.0% in the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock worth $4,409,000 after buying an additional 839,942 shares in the last quarter. State Street Corp lifted its holdings in shares of D-Wave Quantum by 0.9% in the 3rd 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 last quarter. Barclays PLC lifted its holdings in shares of D-Wave Quantum by 298.3% in the 3rd 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of D-Wave Quantum by 33.8% in the 3rd 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 last quarter. Finally, Silverleafe Capital Partners LLC bought a new stake in shares of D-Wave Quantum in the 4th quarter worth approximately $820,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Down 3.6 %

NYSE:QBTS opened at $8.37 on Friday. The company has a fifty day moving average of $6.31 and a 200 day moving average of $4.20. D-Wave Quantum Inc. has a 52 week low of $0.75 and a 52 week high of $11.95. The firm has a market capitalization of $2.25 billion, a P/E ratio of -19.94 and a beta of 1.12.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). The company had revenue of $2.31 million for the quarter, compared to the consensus estimate of $2.23 million. As a group, analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. B. Riley boosted their price objective 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. Needham & Company LLC restated a “buy” rating and issued a $8.50 price objective on shares of D-Wave Quantum in a report on Friday, March 14th. Benchmark restated a “buy” rating and issued a $8.00 price objective on shares of D-Wave Quantum in a report on Friday, March 14th. Craig Hallum boosted their price objective 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. Finally, Roth Mkm boosted their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum has an average rating of “Buy” and a consensus target price of $8.42.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, CFO John M. Markovich sold 5,582 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the transaction, the chief financial officer now directly owns 1,064,556 shares of the company’s stock, valued at approximately $5,610,210.12. The trade was a 0.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan E. Baratz sold 8,372 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,071,206 shares of company stock valued at $46,758,181. 7.22% of the stock is currently owned by company insiders.

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.