22,892 Shares in D-Wave Quantum Inc. (NYSE:QBTS) Acquired by bLong Financial LLC

bLong Financial LLC bought a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 22,892 shares of the company’s stock, valued at approximately $192,000.

A number of other institutional investors have also made changes to their positions in the business. Kingsview Wealth Management LLC acquired a new position in shares of D-Wave Quantum during the 4th quarter worth approximately $84,000. Spire Wealth Management bought a new stake in D-Wave Quantum in the 4th quarter valued at $90,000. Vontobel Holding Ltd. bought a new stake in D-Wave Quantum in the 4th quarter valued at $105,000. Sonora Investment Management Group LLC bought a new stake in D-Wave Quantum in the 4th quarter valued at $135,000. Finally, State Street Corp boosted its stake in D-Wave Quantum by 0.9% in the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company’s stock valued at $1,986,000 after purchasing an additional 17,225 shares during the period. 42.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QBTS has been the subject of several recent research reports. Craig Hallum boosted their price target on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Benchmark restated a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a research note on Tuesday, January 14th. B. Riley boosted their price target on D-Wave Quantum from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Friday. Roth Mkm boosted their price target on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $2.25 target price on shares of D-Wave Quantum in a research report on Friday, November 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $6.71.

D-Wave Quantum Trading Down 1.9 %

NYSE:QBTS opened at $6.38 on Friday. The stock has a fifty day moving average price of $6.59 and a 200-day moving average price of $3.15. D-Wave Quantum Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $11.41.

Insider Activity

In related news, CEO Alan E. Baratz sold 8,372 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $44,120.44. Following the completion of the sale, the chief executive officer now directly owns 2,342,208 shares in the company, valued at $12,343,436.16. This represents a 0.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $4.21, for a total value of $35,522,266.53. Following the completion of the transaction, the insider now directly owns 1,000,000 shares of the company’s stock, valued at approximately $4,210,000. The trade was a 89.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,152,665 shares of company stock worth $92,096,075. 7.22% of the stock is currently owned by company insiders.

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.