D-Wave Quantum Inc. $QBTS Shares Bought by Spire Wealth Management

Spire Wealth Management raised its stake in D-Wave Quantum Inc. (NYSE:QBTS) by 1,213.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,566 shares of the company’s stock after acquiring an additional 6,066 shares during the period. Spire Wealth Management’s holdings in D-Wave Quantum were worth $96,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of QBTS. IFP Advisors Inc increased its stake in D-Wave Quantum by 123.8% in the second quarter. IFP Advisors Inc now owns 14,814 shares of the company’s stock valued at $217,000 after purchasing an additional 8,194 shares during the period. Farther Finance Advisors LLC increased its stake in D-Wave Quantum by 491.3% in the second quarter. Farther Finance Advisors LLC now owns 16,321 shares of the company’s stock valued at $239,000 after purchasing an additional 13,561 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in D-Wave Quantum in the second quarter valued at $217,000. Bouvel Investment Partners LLC acquired a new position in D-Wave Quantum in the second quarter valued at $2,145,000. Finally, McGuire Investment Group LLC increased its stake in D-Wave Quantum by 1,224.6% in the second quarter. McGuire Investment Group LLC now owns 366,810 shares of the company’s stock valued at $5,370,000 after purchasing an additional 339,117 shares during the period. Institutional investors and hedge funds own 42.47% of the company’s stock.

Insider Activity at D-Wave Quantum

In related news, Director John D. Dilullo sold 8,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $143,440.00. Following the sale, the director owned 36,295 shares of the company’s stock, valued at approximately $650,769.35. The trade was a 18.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Alan E. Baratz sold 31,369 shares of the company’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $43.74, for a total transaction of $1,372,080.06. Following the completion of the sale, the chief executive officer directly owned 2,801,265 shares in the company, valued at $122,527,331.10. This trade represents a 1.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 207,363 shares of company stock worth $4,659,478 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on QBTS shares. Needham & Company LLC restated a “buy” rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Benchmark restated a “buy” rating and issued a $20.00 price objective on shares of D-Wave Quantum in a research note on Monday, August 4th. Wall Street Zen lowered shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Stifel Nicolaus started coverage on shares of D-Wave Quantum in a research note on Tuesday, August 5th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Zacks Research lowered shares of D-Wave Quantum from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, D-Wave Quantum has an average rating of “Moderate Buy” and an average target price of $20.27.

D-Wave Quantum Stock Up 4.5%

QBTS stock opened at $31.09 on Thursday. The company has a market cap of $10.63 billion, a P/E ratio of -29.61 and a beta of 1.53. D-Wave Quantum Inc. has a 52 week low of $1.09 and a 52 week high of $46.75. The company’s 50-day moving average price is $27.57 and its 200 day moving average price is $19.34. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05.

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

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.