D-Wave Quantum Inc. (NYSE:QBTS) Major Shareholder Sector Pension Investme Public Sells 1,000,000 Shares

D-Wave Quantum Inc. (NYSE:QBTS) major shareholder Sector Pension Investme Public sold 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $6.68, for a total value of $6,680,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.
• On Tuesday, December 10th, Sector Pension Investme Public sold 643,866 shares of D-Wave Quantum stock. The shares were sold at an average price of $4.87, for a total transaction of $3,135,627.42.

D-Wave Quantum Stock Performance

QBTS traded up $1.71 during trading on Monday, hitting $8.15. The stock had a trading volume of 100,995,102 shares, compared to its average volume of 11,619,443. The stock has a 50 day simple moving average of $2.64 and a two-hundred day simple moving average of $1.59. D-Wave Quantum Inc. has a twelve month low of $0.68 and a twelve month high of $10.50. The company has a market capitalization of $1.83 billion, a PE ratio of -19.40 and a beta of 1.79.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on QBTS shares. Craig Hallum boosted their target price on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday. Benchmark increased their target price on D-Wave Quantum from $3.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday. Roth Mkm lifted their target price on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. B. Riley raised their price target on shares of D-Wave Quantum from $3.75 to $4.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $2.25 price objective on shares of D-Wave Quantum in a research report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $5.63.

Institutional Investors Weigh In On D-Wave Quantum

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in shares of D-Wave Quantum during the third quarter valued at $42,000. Thoroughbred Financial Services LLC acquired a new stake in shares of D-Wave Quantum in the second quarter worth $45,000. Bogart Wealth LLC acquired a new position in D-Wave Quantum during the third quarter valued at $49,000. Rhumbline Advisers purchased a new stake in D-Wave Quantum in the second quarter valued at $93,000. Finally, Barclays PLC grew its position in D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after purchasing an additional 89,894 shares during the period. Hedge funds and other institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Company 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.