Swiss National Bank Takes Position in D-Wave Quantum Inc. $QBTS

Swiss National Bank acquired a new stake in D-Wave Quantum Inc. (NYSE:QBTS) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 464,800 shares of the company’s stock, valued at approximately $3,532,000. Swiss National Bank owned about 0.16% of D-Wave Quantum as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of QBTS. Vanguard Group Inc. boosted its stake in shares of D-Wave Quantum by 58.5% in the 1st quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company’s stock valued at $85,766,000 after purchasing an additional 4,166,721 shares during the last quarter. Bank of America Corp DE lifted its position in shares of 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 valued at $21,404,000 after acquiring an additional 2,497,263 shares during the period. Penserra Capital Management LLC lifted its position in shares of D-Wave Quantum by 80.1% during the 1st quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company’s stock valued at $38,518,000 after acquiring an additional 2,253,741 shares during the period. UNICOM Systems Inc. lifted its position in shares of D-Wave Quantum by 91.9% during the 1st quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company’s stock valued at $35,171,000 after acquiring an additional 2,216,000 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of D-Wave Quantum during the 1st quarter valued at $6,883,000. 42.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Williams Trading set a $20.00 target price on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of D-Wave Quantum in a research report on Monday, August 4th. B. Riley boosted their target price on shares of D-Wave Quantum from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Finally, Canaccord Genuity Group assumed coverage on shares of D-Wave Quantum in a research report on Wednesday, July 23rd. They set a “buy” rating and a $20.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, D-Wave Quantum presently has a consensus rating of “Buy” and a consensus price target of $19.27.

D-Wave Quantum Stock Performance

QBTS opened at $15.0440 on Thursday. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05. The company’s fifty day moving average price is $16.66 and its two-hundred day moving average price is $11.73. D-Wave Quantum Inc. has a 1-year low of $0.80 and a 1-year high of $20.56. The company has a market cap of $5.15 billion, a price-to-earnings ratio of -14.33 and a beta of 1.41.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The business had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.55 million. The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Activity

In other news, Director Rohit Ghai sold 43,517 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.80, for a total value of $731,085.60. Following the completion of the sale, the director owned 57,778 shares in the company, valued at $970,670.40. This represents a 42.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Markovich sold 100,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $18.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the chief financial officer owned 1,558,753 shares of the company’s stock, valued at approximately $28,057,554. This represents a 6.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 378,787 shares of company stock valued at $6,389,513. 3.20% of the stock is currently owned by insiders.

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.