Blair William & Co. IL Boosts Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

Blair William & Co. IL boosted its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 29.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,935 shares of the company’s stock after acquiring an additional 6,435 shares during the period. Blair William & Co. IL’s holdings in D-Wave Quantum were worth $235,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of D-Wave Quantum by 103.7% in the 4th quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company’s stock valued at $59,794,000 after purchasing an additional 3,624,407 shares during the last quarter. UNICOM Systems Inc. acquired a new position in D-Wave Quantum in the fourth quarter valued at about $20,258,000. Geode Capital Management LLC lifted 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 valued at $2,513,000 after buying an additional 645,039 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of D-Wave Quantum during the fourth quarter valued at about $2,087,000. Finally, Commonwealth Equity Services LLC increased its position in shares of D-Wave Quantum by 1,097.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 228,047 shares of the company’s stock valued at $1,916,000 after acquiring an additional 209,000 shares during the last quarter. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO John M. Markovich sold 5,582 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $29,417.14. Following the completion of 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. This represents a 0.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $4.07, for a total value of $29,624,260.16. Following the completion of the transaction, the insider now owns 30,000,000 shares in the company, valued at approximately $122,100,000. The trade was a 19.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,071,206 shares of company stock worth $46,758,181 in the last 90 days. Corporate insiders own 7.22% of the company’s stock.

D-Wave Quantum Price Performance

QBTS opened at $6.29 on Friday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -14.98 and a beta of 0.88. The business has a fifty day moving average price of $6.74 and a 200 day moving average price of $4.67. D-Wave Quantum Inc. has a 12 month low of $0.75 and a 12 month high of $11.95.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). The firm had revenue of $2.31 million during the quarter, compared to analyst estimates of $2.23 million. On average, research analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

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

About D-Wave Quantum

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.