Goldman Sachs Group Inc. Acquires 2,685,980 Shares of D-Wave Quantum Inc. $QBTS

Goldman Sachs Group Inc. increased its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 311.6% during the 4th quarter, HoldingsChannel reports. The firm owned 3,548,013 shares of the company’s stock after purchasing an additional 2,685,980 shares during the period. Goldman Sachs Group Inc.’s holdings in D-Wave Quantum were worth $92,781,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of QBTS. Baird Financial Group Inc. lifted its holdings in shares of D-Wave Quantum by 12.0% during the 1st quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock valued at $92,000 after purchasing an additional 1,300 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of 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 purchasing an additional 60,668 shares in the last quarter. AQR Capital Management LLC lifted its holdings 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 valued at $1,526,000 after purchasing an additional 134,066 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of D-Wave Quantum by 93.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company’s stock valued at $825,000 after purchasing an additional 52,437 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of D-Wave Quantum by 125.7% during the 1st quarter. NewEdge Advisors LLC now owns 43,786 shares of the company’s stock valued at $333,000 after purchasing an additional 24,382 shares in the last quarter. Institutional investors own 42.47% of the company’s stock.

Insider Buying and Selling

In other news, Director John D. Dilullo sold 7,850 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $24.43, for a total transaction of $191,775.50. Following the sale, the director owned 21,310 shares in the company, valued at $520,603.30. This represents a 26.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rohit Ghai sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $17.62, for a total value of $176,200.00. Following the sale, the director owned 27,778 shares in the company, valued at approximately $489,448.36. This represents a 26.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 386,311 shares of company stock worth $10,255,860. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

QBTS has been the topic of several research reports. Weiss Ratings cut D-Wave Quantum from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. TD Cowen initiated coverage on D-Wave Quantum in a research note on Thursday, February 12th. They issued a “buy” rating on the stock. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of D-Wave Quantum in a research note on Tuesday, June 2nd. Jefferies Financial Group restated a “buy” rating on shares of D-Wave Quantum in a research note on Tuesday, May 12th. Finally, Canaccord Genuity Group cut their target price on D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.40.

D-Wave Quantum Trading Down 8.9%

NYSE QBTS opened at $23.53 on Wednesday. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of -20.82 and a beta of 2.05. The stock’s 50 day moving average price is $21.12 and its two-hundred day moving average price is $22.22. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41. D-Wave Quantum Inc. has a 52 week low of $12.75 and a 52 week high of $46.75.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $2.86 million for the quarter, compared to analysts’ expectations of $4.19 million. D-Wave Quantum had a negative return on equity of 44.06% and a negative net margin of 2,957.23%.The business’s quarterly revenue was down 80.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) EPS. As a group, analysts anticipate that D-Wave Quantum Inc. will post -0.43 earnings per share for the current fiscal year.

D-Wave Quantum News Summary

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

• Positive Sentiment: B. Riley raised its price target on D-Wave Quantum to $40 from $36 and kept a Buy rating, reinforcing a constructive Wall Street view on the stock. B. Riley is Bullish on D-Wave Quantum Inc. (QBTS)
• Positive Sentiment: Multiple recent articles cite upside potential for QBTS, with analyst targets implying meaningful gains if the quantum computing sector attracts fresh capital. 2 Quantum Stocks With 45%+ Upside in June as OpenAI, SpaceX Eye IPO
• Neutral Sentiment: Recent board and insider filings appear largely routine, including a director sale that was made under a pre-arranged 10b5-1 plan and an article noting routine RSU grants. John Dilullo Sells 7,850 Shares of D-Wave Quantum (NYSE:QBTS) Stock
• Negative Sentiment: Investor sentiment toward QBTS has weakened today as money moved out of speculative growth stocks, putting pressure on the valuation despite no major operational setback in the news. D-Wave Quantum Plummeted Today — Is the Stock a Buy Right Now?
• Negative Sentiment: One article argues that larger tech names like Intel and IBM are increasing quantum investments, which could make it harder for pure-play companies such as D-Wave to stand out. The Case for Intel Over Pure-Play Quantum Firms (QBTS)

About D-Wave Quantum

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.