Sector Pension Investme Public Sells 2,778,564 Shares of D-Wave Quantum Inc. (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS) major shareholder Sector Pension Investme Public sold 2,778,564 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $6.14, for a total value of $17,060,382.96. Following the completion of the transaction, the insider now directly owns 37,278,688 shares of the company’s stock, valued at $228,891,144.32. The trade was a 6.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, January 13th, Sector Pension Investme Public sold 7,278,688 shares of D-Wave Quantum stock. The stock was sold at an average price of $4.07, for a total value of $29,624,260.16.
• On Friday, December 20th, Sector Pension Investme Public sold 1,000,000 shares of D-Wave Quantum stock. The stock was sold at an average price of $6.68, for a total value of $6,680,000.00.
• 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 stock was sold at an average price of $4.87, for a total value of $3,135,627.42.

D-Wave Quantum Stock Up 24.0 %

Shares of QBTS traded up $0.92 during trading hours on Tuesday, hitting $4.75. The company had a trading volume of 139,682,431 shares, compared to its average volume of 100,537,969. The firm has a market cap of $1.28 billion, a P/E ratio of -11.31 and a beta of 1.16. The stock’s 50 day moving average price is $4.89 and its 200 day moving average price is $2.38. D-Wave Quantum Inc. has a 52-week low of $0.68 and a 52-week high of $11.41.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Roth Mkm increased their price objective 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. Benchmark reiterated a “buy” rating and issued a $8.00 price objective on shares of D-Wave Quantum in a research report on Tuesday. B. Riley raised their price target on D-Wave Quantum from $4.50 to $9.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $2.25 price target on shares of D-Wave Quantum in a research report on Friday, November 15th. Finally, Craig Hallum raised their price target on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $6.38.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of QBTS. Sovereign Financial Group Inc. bought a new stake in shares of D-Wave Quantum in the fourth quarter worth about $179,000. Silverleafe Capital Partners LLC bought a new stake in shares of D-Wave Quantum in the fourth quarter worth about $820,000. Barclays PLC grew its stake in shares of D-Wave Quantum by 298.3% in the third 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 last quarter. Geode Capital Management LLC grew its stake in shares of D-Wave Quantum by 33.8% in the third quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock worth $2,513,000 after purchasing an additional 645,039 shares during the last quarter. Finally, State Street Corp grew its stake in shares of D-Wave Quantum by 0.9% in the third 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 last quarter. Hedge funds and other institutional investors own 42.47% 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.