D-Wave Quantum Inc. (NYSE:QBTS) Major Shareholder Sells $29,624,260.16 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) major shareholder Sector Pension Investme Public sold 7,278,688 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $4.07, for a total value of $29,624,260.16. Following the transaction, the insider now directly owns 30,000,000 shares in the company, valued at approximately $122,100,000. This represents a 19.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Sector Pension Investme Public also recently made the following trade(s):

• On Friday, January 10th, Sector Pension Investme Public sold 2,778,564 shares of D-Wave Quantum stock. The shares were sold at an average price of $6.14, for a total value of $17,060,382.96.
• On Friday, December 20th, Sector Pension Investme Public sold 1,000,000 shares of D-Wave Quantum stock. The stock was sold at an average price of $6.68, for a total value of $6,680,000.00.
• On Thursday, December 12th, Sector Pension Investme Public sold 8,437,593 shares of D-Wave Quantum stock. The stock was sold at an average price of $4.21, for a total value of $35,522,266.53.
• On Tuesday, December 10th, Sector Pension Investme Public sold 643,866 shares of D-Wave Quantum stock. The stock was sold at an average price of $4.87, for a total value of $3,135,627.42.

D-Wave Quantum Stock Performance

D-Wave Quantum stock traded up $0.92 during mid-day trading on Tuesday, reaching $4.75. 139,682,431 shares of the company were exchanged, compared to its average volume of 100,537,969. The business has a fifty day moving average of $4.89 and a 200 day moving average of $2.38. The firm has a market cap of $1.28 billion, a P/E ratio of -11.31 and a beta of 1.16. D-Wave Quantum Inc. has a 12-month low of $0.68 and a 12-month high of $11.41.

Institutional Trading of D-Wave Quantum

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in shares of D-Wave Quantum during the 3rd quarter valued at $42,000. Thoroughbred Financial Services LLC purchased a new stake in shares of D-Wave Quantum during the 2nd quarter valued at $45,000. Bogart Wealth LLC purchased a new stake in shares of D-Wave Quantum during the 3rd quarter valued at $49,000. Rhumbline Advisers purchased a new stake in shares of D-Wave Quantum during the 2nd quarter valued at $93,000. Finally, Barclays PLC lifted its holdings in shares of D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock valued at $117,000 after purchasing an additional 89,894 shares during the last quarter. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on QBTS. Roth Mkm increased their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Benchmark reissued a “buy” rating and issued a $8.00 price objective on shares of D-Wave Quantum in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $2.25 price objective on shares of D-Wave Quantum in a research note on Friday, November 15th. B. Riley increased their price objective on D-Wave Quantum from $4.50 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Craig Hallum upped their target price on D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $6.38.

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.