Insider Selling: D-Wave Quantum Inc. (NYSE:QBTS) Major Shareholder Sells 7,278,688 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) major shareholder Sector Pension Investme Public sold 7,278,688 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $4.07, for a total transaction of $29,624,260.16. Following the completion of the transaction, the insider now owns 30,000,000 shares in the company, valued at approximately $122,100,000. This represents a 19.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more 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 Friday, January 10th, Sector Pension Investme Public sold 2,778,564 shares of D-Wave Quantum stock. The shares were sold at an average price of $6.14, for a total transaction of $17,060,382.96.
• 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 shares were 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 Price Performance

Shares of QBTS opened at $4.75 on Wednesday. The company has a market capitalization of $1.28 billion, a PE ratio of -11.31 and a beta of 1.16. D-Wave Quantum Inc. has a one year low of $0.68 and a one year high of $11.41. The company’s fifty day moving average price is $4.97 and its 200 day moving average price is $2.41.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on QBTS shares. B. Riley increased their price objective on D-Wave Quantum from $4.50 to $9.00 and gave the stock a “buy” rating in a report on Tuesday. Benchmark restated a “buy” rating and set a $8.00 price target on shares of D-Wave Quantum in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.25 price objective on shares of D-Wave Quantum in a research note on Friday, November 15th. Roth Mkm increased their target price on shares of D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Craig Hallum raised their target price on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, D-Wave Quantum currently has a consensus rating of “Buy” and an average target price of $6.38.

Hedge Funds Weigh In On D-Wave Quantum

A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in D-Wave Quantum in the 3rd quarter valued at approximately $42,000. Thoroughbred Financial Services LLC bought a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $45,000. Bogart Wealth LLC bought a new position in D-Wave Quantum during the third quarter worth $49,000. Rhumbline Advisers acquired a new position in D-Wave Quantum during the 2nd quarter valued at $93,000. Finally, Barclays PLC boosted its holdings in D-Wave Quantum by 298.3% in the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock valued at $117,000 after purchasing an additional 89,894 shares during the period. 42.47% of the stock is currently owned by institutional investors.

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.