Creative Planning Has $557,000 Position in D-Wave Quantum Inc. $QBTS

Creative Planning grew its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 108.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,072 shares of the company’s stock after buying an additional 19,806 shares during the quarter. Creative Planning’s holdings in D-Wave Quantum were worth $557,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of QBTS. Reyes Financial Architecture Inc. bought a new stake in D-Wave Quantum during the second quarter worth about $29,000. Atlantic Union Bankshares Corp bought a new position in D-Wave Quantum in the second quarter valued at approximately $29,000. Parallel Advisors LLC increased its position in shares of D-Wave Quantum by 227.3% during the 2nd quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock worth $32,000 after purchasing an additional 1,532 shares during the last quarter. Gables Capital Management Inc. bought a new stake in shares of D-Wave Quantum during the 2nd quarter worth approximately $37,000. Finally, Huntington National Bank bought a new stake in shares of D-Wave Quantum during the 2nd quarter worth approximately $41,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Up 14.2%

Shares of QBTS opened at $28.63 on Friday. The firm has a market cap of $10.02 billion, a P/E ratio of -21.21 and a beta of 1.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68. D-Wave Quantum Inc. has a 52 week low of $2.88 and a 52 week high of $46.75. The firm’s 50-day simple moving average is $29.60 and its 200 day simple moving average is $21.57.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The company had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $3.03 million. The company’s quarterly revenue was up 105.6% on a year-over-year basis. On average, analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Transactions at D-Wave Quantum

In other D-Wave Quantum news, Director John D. Dilullo sold 8,000 shares of the 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 transaction, the director owned 36,295 shares in the company, valued at $650,769.35. This trade represents a 18.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John M. Markovich sold 200,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $22.94, for a total transaction of $4,588,000.00. Following the transaction, the chief financial officer directly owned 1,482,874 shares in the company, valued at approximately $34,017,129.56. This represents a 11.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,379,813 shares of company stock valued at $36,891,986. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Roth Capital set a $40.00 target price on shares of D-Wave Quantum in a research note on Thursday, November 6th. Wall Street Zen raised shares of D-Wave Quantum from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Piper Sandler boosted their price objective on shares of D-Wave Quantum from $13.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. B. Riley upped their target price on shares of D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Finally, Evercore ISI began coverage on D-Wave Quantum in a report on Wednesday. They set an “outperform” rating and a $44.00 price target for the company. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, D-Wave Quantum currently has a consensus rating of “Moderate Buy” and an average target price of $29.85.

D-Wave Quantum Company 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.