Focus Financial Network Inc. Has $474,000 Stock Position in D-Wave Quantum Inc. $QBTS

Focus Financial Network Inc. raised its position in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 13.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,395 shares of the company’s stock after purchasing an additional 3,855 shares during the period. Focus Financial Network Inc.’s holdings in D-Wave Quantum were worth $474,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. raised its position in D-Wave Quantum by 786.8% during the first quarter. Vontobel Holding Ltd. now owns 110,850 shares of the company’s stock valued at $842,000 after purchasing an additional 98,350 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in D-Wave Quantum during the first quarter valued at approximately $167,000. Swiss National Bank bought a new stake in shares of D-Wave Quantum during the first quarter worth $3,532,000. Verity Asset Management Inc. bought a new stake in shares of D-Wave Quantum during the first quarter worth $251,000. Finally, Deutsche Bank AG grew its stake in shares of D-Wave Quantum by 35.0% during the fourth quarter. Deutsche Bank AG now owns 73,906 shares of the company’s stock worth $621,000 after buying an additional 19,157 shares during the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of D-Wave Quantum in a research note on Tuesday, August 5th. They set a “buy” rating and a $26.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of D-Wave Quantum in a research note on Monday, August 4th. Wall Street Zen cut shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a research note on Wednesday, June 18th. Finally, Rosenblatt Securities started coverage on shares of D-Wave Quantum in a report on Tuesday, July 29th. They issued a “buy” rating and a $30.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $19.27.

Insiders Place Their Bets

In other D-Wave Quantum news, Director Rohit Ghai sold 10,000 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $17.93, for a total value of $179,300.00. Following the sale, the director owned 47,778 shares of the company’s stock, valued at $856,659.54. This trade represents a 17.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John D. Dilullo sold 8,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $143,440.00. Following the completion of the sale, the director directly owned 36,295 shares in the company, valued at approximately $650,769.35. This trade represents a 18.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,000 shares of company stock valued at $2,937,740 in the last quarter. Insiders own 3.20% of the company’s stock.

D-Wave Quantum Price Performance

QBTS stock opened at $26.89 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. D-Wave Quantum Inc. has a 52 week low of $0.87 and a 52 week high of $27.33. The firm’s fifty day moving average is $17.40 and its 200 day moving average is $13.47. The firm has a market cap of $9.20 billion, a P/E ratio of -25.61 and a beta of 1.39.

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

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.