D-Wave Quantum Inc. (NYSE:QBTS) Stake Increased by Cetera Investment Advisers

Cetera Investment Advisers grew its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 604.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,119 shares of the company’s stock after purchasing an additional 113,374 shares during the period. Cetera Investment Advisers’ holdings in D-Wave Quantum were worth $1,110,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of D-Wave Quantum by 103.7% in the fourth 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of D-Wave Quantum by 16.4% in the fourth quarter. Geode Capital Management LLC now owns 2,974,395 shares of the company’s stock valued at $24,992,000 after purchasing an additional 418,468 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of D-Wave Quantum by 4,912.4% in the fourth quarter. Bank of America Corp DE now owns 2,548,099 shares of the company’s stock valued at $21,404,000 after purchasing an additional 2,497,263 shares in the last quarter. UNICOM Systems Inc. purchased a new stake in shares of D-Wave Quantum in the fourth quarter valued at $20,258,000. Finally, Northern Trust Corp lifted its holdings in shares of D-Wave Quantum by 25.9% in the fourth quarter. Northern Trust Corp now owns 978,087 shares of the company’s stock valued at $8,216,000 after purchasing an additional 201,091 shares in the last quarter. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, CEO Alan E. Baratz sold 845,813 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $17.00, for a total transaction of $14,378,821.00. Following the transaction, the chief executive officer now directly owns 2,866,412 shares in the company, valued at $48,729,004. This trade represents a 22.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.22% of the company’s stock.

D-Wave Quantum Trading Up 24.2%

Shares of NYSE:QBTS opened at $19.07 on Friday. D-Wave Quantum Inc. has a 1 year low of $0.75 and a 1 year high of $19.52. The business has a fifty day simple moving average of $8.60 and a 200 day simple moving average of $6.54. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of -45.40 and a beta of 0.90.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The firm had revenue of $15.00 million for the quarter, compared to analysts’ expectations of $10.50 million. On average, sell-side analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on QBTS shares. B. Riley increased their target price on D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, March 14th. Benchmark increased their price objective on D-Wave Quantum from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Needham & Company LLC increased their price objective on D-Wave Quantum from $8.50 to $13.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, Roth Mkm increased their price objective on D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $10.17.

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.