D. E. Shaw & Co. Inc. Takes Position in D-Wave Quantum Inc. (NYSE:QBTS)

D. E. Shaw & Co. Inc. bought a new stake in D-Wave Quantum Inc. (NYSE:QBTS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 133,324 shares of the company’s stock, valued at approximately $1,120,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position 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 buying an additional 3,624,407 shares during the last quarter. Bank of America Corp DE raised its stake in D-Wave Quantum by 4,912.4% during the 4th quarter. Bank of America Corp DE now owns 2,548,099 shares of the company’s stock worth $21,404,000 after buying an additional 2,497,263 shares during the period. UNICOM Systems Inc. acquired a new stake in D-Wave Quantum in the 4th quarter valued at $20,258,000. Geode Capital Management LLC increased its position in shares of D-Wave Quantum by 16.4% during the fourth quarter. Geode Capital Management LLC now owns 2,974,395 shares of the company’s stock worth $24,992,000 after acquiring an additional 418,468 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in D-Wave Quantum during the 4th quarter worth approximately $2,087,000. 42.47% of the stock is owned by institutional investors.

Insider Transactions at D-Wave Quantum

In other D-Wave Quantum news, CFO John M. Markovich sold 400,000 shares of D-Wave Quantum stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $17.30, for a total transaction of $6,920,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,577,944 shares in the company, valued at $27,298,431.20. The trade was a 20.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roger Biscay sold 96,521 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $17.86, for a total transaction of $1,723,865.06. Following the completion of the transaction, the director now directly owns 106,626 shares of the company’s stock, valued at approximately $1,904,340.36. This represents a 47.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,358,009 shares of company stock valued at $23,282,578. 7.22% of the stock is currently owned by company insiders.

D-Wave Quantum Trading Down 1.5%

Shares of QBTS stock opened at $18.76 on Friday. The stock has a market capitalization of $5.46 billion, a P/E ratio of -44.65 and a beta of 0.90. The firm’s 50 day moving average is $8.76 and its 200 day moving average is $6.66. D-Wave Quantum Inc. has a 12 month low of $0.75 and a 12 month high of $19.77.

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

Analyst Ratings Changes

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

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.