Baader Bank Aktiengesellschaft Has $311,000 Holdings in D-Wave Quantum Inc. $QBTS

Baader Bank Aktiengesellschaft trimmed its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 71.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,568 shares of the company’s stock after selling 31,191 shares during the period. Baader Bank Aktiengesellschaft’s holdings in D-Wave Quantum were worth $311,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Marex Group plc bought a new stake in shares of D-Wave Quantum during the second quarter worth $80,070,000. Arrowstreet Capital Limited Partnership acquired a new position in D-Wave Quantum during the 2nd quarter worth about $45,372,000. State Street Corp lifted its position in D-Wave Quantum by 41.3% during the 2nd quarter. State Street Corp now owns 6,648,395 shares of the company’s stock worth $97,333,000 after buying an additional 1,941,762 shares in the last quarter. Geode Capital Management LLC grew its holdings in D-Wave Quantum by 41.6% during the 2nd quarter. Geode Capital Management LLC now owns 6,411,558 shares of the company’s stock worth $93,877,000 after acquiring an additional 1,883,109 shares during the last quarter. Finally, Man Group plc acquired a new stake in D-Wave Quantum in the 2nd quarter valued at about $26,535,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Up 4.9%

Shares of D-Wave Quantum stock opened at $19.74 on Friday. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a 12 month low of $4.45 and a 12 month high of $46.75. The business has a fifty day simple moving average of $25.69 and a 200 day simple moving average of $24.78. The stock has a market cap of $7.30 billion, a PE ratio of -14.62 and a beta of 1.56.

Insider Activity

In other news, CFO John M. Markovich sold 200,000 shares of the business’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 completion of the transaction, the chief financial officer directly owned 1,482,874 shares in the company, valued at approximately $34,017,129.56. The trade was a 11.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kirstjen Nielsen sold 7,000 shares of D-Wave Quantum stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $22.62, for a total transaction of $158,340.00. Following the transaction, the director directly owned 112,673 shares in the company, valued at $2,548,663.26. The trade was a 5.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,274,466 shares of company stock valued at $36,146,806. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on QBTS. Wall Street Zen lowered shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Williams Trading set a $35.00 price objective on shares of D-Wave Quantum in a research report on Monday, November 10th. Wedbush initiated coverage on D-Wave Quantum in a report on Wednesday, December 17th. They set an “outperform” rating and a $35.00 price objective on the stock. Zacks Research upgraded D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Benchmark restated a “buy” rating and set a $35.00 target price on shares of D-Wave Quantum in a research report on Friday, January 23rd. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.21.

D-Wave Quantum Company Profile

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.