D-Wave Quantum Inc. $QBTS Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its position in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 54.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,850 shares of the company’s stock after selling 107,035 shares during the quarter. Intech Investment Management LLC’s holdings in D-Wave Quantum were worth $2,195,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in D-Wave Quantum by 34.6% during the third quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock worth $46,000 after purchasing an additional 482 shares during the period. Blue Bell Private Wealth Management LLC raised its position in shares of D-Wave Quantum by 5.3% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 9,901 shares of the company’s stock valued at $245,000 after buying an additional 500 shares during the period. bLong Financial LLC lifted its holdings in D-Wave Quantum by 2.3% in the second quarter. bLong Financial LLC now owns 24,643 shares of the company’s stock valued at $361,000 after acquiring an additional 551 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in D-Wave Quantum by 2.1% in the third quarter. Flagship Harbor Advisors LLC now owns 47,740 shares of the company’s stock valued at $1,180,000 after acquiring an additional 1,000 shares during the last quarter. Finally, CWM LLC grew its position in D-Wave Quantum by 18.3% in the third quarter. CWM LLC now owns 6,574 shares of the company’s stock worth $162,000 after acquiring an additional 1,018 shares during the period. Hedge funds and other institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Down 3.7%

Shares of QBTS opened at $18.24 on Wednesday. The company’s 50-day simple moving average is $23.76 and its 200-day simple moving average is $25.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68. D-Wave Quantum Inc. has a 1 year low of $4.45 and a 1 year high of $46.75. The stock has a market capitalization of $6.75 billion, a PE ratio of -16.58 and a beta of 1.61.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The business had revenue of $2.75 million during the quarter, compared to analyst estimates of $3.74 million. D-Wave Quantum had a negative net margin of 1,444.10% and a negative return on equity of 67.75%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. Analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other D-Wave Quantum news, Director Rohit Ghai sold 10,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $24.28, for a total transaction of $242,800.00. Following the sale, the director owned 37,778 shares in the company, valued at $917,249.84. This represents a 20.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Alan E. Baratz sold 35,013 shares of D-Wave Quantum stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $28.06, for a total value of $982,464.78. Following the completion of the transaction, the chief executive officer owned 2,598,150 shares of the company’s stock, valued at $72,904,089. The trade was a 1.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 967,466 shares of company stock worth $28,895,466 over the last ninety days. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on QBTS shares. Jefferies Financial Group initiated coverage on D-Wave Quantum in a research note on Tuesday, December 16th. They issued a “buy” rating and a $45.00 price target on the stock. TD Cowen began coverage on shares of D-Wave Quantum in a research report on Thursday, February 12th. They issued a “buy” rating on the stock. Cantor Fitzgerald increased their target price on shares of D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Evercore began coverage on shares of D-Wave Quantum in a research note on Wednesday, December 3rd. They issued an “outperform” rating and a $44.00 price target on the stock. Finally, Mizuho lowered their price objective on shares of D-Wave Quantum from $46.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.50.

D-Wave Quantum Company Profile

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.