Hollencrest Capital Management acquired a new stake in D-Wave Quantum Inc. (NYSE:QBTS – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 14,000 shares of the company’s stock, valued at approximately $118,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in QBTS. PNC Financial Services Group Inc. bought a new position in D-Wave Quantum in the 4th quarter valued at approximately $38,000. Kingsview Wealth Management LLC bought a new position in D-Wave Quantum in the 4th quarter valued at approximately $84,000. Spire Wealth Management bought a new position in D-Wave Quantum in the 4th quarter valued at approximately $90,000. Vontobel Holding Ltd. bought a new position in D-Wave Quantum in the 4th quarter valued at approximately $105,000. Finally, Truist Financial Corp bought a new position in D-Wave Quantum in the 4th quarter valued at approximately $108,000. Institutional investors own 42.47% of the company’s stock.
D-Wave Quantum Stock Up 8.8 %
Shares of NYSE QBTS opened at $5.86 on Thursday. D-Wave Quantum Inc. has a twelve month low of $0.75 and a twelve month high of $11.41. The firm has a fifty day simple moving average of $6.10 and a 200 day simple moving average of $3.78. The company has a market capitalization of $1.58 billion, a PE ratio of -13.94 and a beta of 1.12.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on D-Wave Quantum
Insider Buying and Selling
In related news, major shareholder Sector Pension Investme Public sold 7,278,688 shares of D-Wave Quantum stock in a transaction on Monday, January 13th. The shares were sold at an average price of $4.07, for a total transaction of $29,624,260.16. Following the completion of the transaction, the insider now owns 30,000,000 shares of the company’s stock, valued at $122,100,000. This trade represents a 19.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John M. Markovich sold 5,582 shares of D-Wave Quantum stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $29,417.14. Following the transaction, the chief financial officer now directly owns 1,064,556 shares of the company’s stock, valued at $5,610,210.12. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,071,206 shares of company stock valued at $53,438,181 over the last quarter. Insiders own 7.22% of the company’s stock.
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.
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