D-Wave Quantum Inc. (NYSE:QBTS) Major Shareholder Sector Pension Investme Public Sells 643,866 Shares

D-Wave Quantum Inc. (NYSE:QBTS) major shareholder Sector Pension Investme Public sold 643,866 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $4.87, for a total value of $3,135,627.42. Following the completion of the sale, the insider now owns 18,730,193 shares of the company’s stock, valued at $91,216,039.91. The trade was a 3.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• 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.

D-Wave Quantum Trading Down 5.1 %

Shares of NYSE:QBTS opened at $3.91 on Friday. D-Wave Quantum Inc. has a 12 month low of $0.68 and a 12 month high of $5.38. The company has a 50-day moving average price of $1.91 and a 200 day moving average price of $1.35. The company has a market cap of $875.88 million, a price-to-earnings ratio of -9.31 and a beta of 1.79.

Analyst Ratings Changes

Several research analysts have commented on the stock. B. Riley increased their price objective on shares of D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a report on Monday, November 25th. Roth Mkm increased their price objective on shares of D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $2.25 price target on shares of D-Wave Quantum in a report on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $3.71.

Institutional Trading of D-Wave Quantum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position 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 worth $1,986,000 after purchasing an additional 17,225 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in shares of D-Wave Quantum during the second quarter worth approximately $28,000. Instrumental Wealth LLC increased its position in shares of D-Wave Quantum by 85.9% during the second quarter. Instrumental Wealth LLC now owns 54,240 shares of the company’s stock worth $62,000 after acquiring an additional 25,067 shares during the period. Thoroughbred Financial Services LLC purchased a new position in shares of D-Wave Quantum during the second quarter worth approximately $45,000. Finally, SG Americas Securities LLC purchased a new position in shares of D-Wave Quantum during the third quarter worth approximately $42,000. 42.47% of the stock is owned by hedge funds and other institutional investors.

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.