D-Wave Quantum Inc. $QBTS Stock Holdings Increased by Vanguard Group Inc.

Vanguard Group Inc. lifted its holdings in D-Wave Quantum Inc. (NYSE:QBTSFree Report) by 41.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 38,454,869 shares of the company’s stock after purchasing an additional 11,218,255 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of D-Wave Quantum worth $950,220,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of QBTS. Baird Financial Group Inc. lifted its holdings in D-Wave Quantum by 12.0% in the first quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock worth $92,000 after purchasing an additional 1,300 shares during the period. Royal Bank of Canada increased its stake in D-Wave Quantum by 59.8% during the 1st quarter. Royal Bank of Canada now owns 162,088 shares of the company’s stock valued at $1,231,000 after buying an additional 60,668 shares during the period. AQR Capital Management LLC raised its position in shares of D-Wave Quantum by 201.0% during the 1st quarter. AQR Capital Management LLC now owns 200,765 shares of the company’s stock worth $1,526,000 after buying an additional 134,066 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of D-Wave Quantum by 93.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company’s stock worth $825,000 after acquiring an additional 52,437 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of D-Wave Quantum by 125.7% in the first quarter. NewEdge Advisors LLC now owns 43,786 shares of the company’s stock valued at $333,000 after acquiring an additional 24,382 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors.

Insider Activity at D-Wave Quantum

In other news, Director John D. Dilullo sold 8,000 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $27.36, for a total transaction of $218,880.00. Following the completion of the sale, the director directly owned 27,803 shares of the company’s stock, valued at $760,690.08. This represents a 22.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rohit Ghai sold 10,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $24.28, for a total value of $242,800.00. Following the completion of the transaction, the director owned 37,778 shares of the company’s stock, valued at $917,249.84. This trade represents a 20.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,074,466 shares of company stock valued at $31,558,806 over the last ninety days. Company insiders own 3.20% of the company’s stock.

D-Wave Quantum News Summary

Here are the key news stories impacting D-Wave Quantum this week:

D-Wave Quantum Price Performance

Shares of NYSE:QBTS opened at $18.04 on Friday. D-Wave Quantum Inc. has a one year low of $4.45 and a one year high of $46.75. The stock has a fifty day moving average of $24.83 and a 200-day moving average of $24.89. The company has a market capitalization of $6.67 billion, a PE ratio of -13.36 and a beta of 1.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68.

Analysts Set New Price Targets

Several brokerages recently commented on QBTS. TD Cowen assumed coverage on D-Wave Quantum in a report on Thursday, February 12th. They set a “buy” rating on the stock. Wall Street Zen lowered D-Wave Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Evercore started coverage on D-Wave Quantum in a research note on Wednesday, December 3rd. They issued an “outperform” rating and a $44.00 price objective on the stock. Canaccord Genuity Group set a $43.00 price objective on D-Wave Quantum in a report on Thursday, January 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $43.00 target price on shares of D-Wave Quantum in a report on Wednesday, January 28th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, D-Wave Quantum currently has an average rating of “Moderate Buy” and a consensus price target of $38.21.

View Our Latest Report on QBTS

D-Wave Quantum Profile

(Free Report)

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.

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Want to see what other hedge funds are holding QBTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for D-Wave Quantum Inc. (NYSE:QBTSFree Report).

Institutional Ownership by Quarter for D-Wave Quantum (NYSE:QBTS)

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