John Dilullo Sells 8,000 Shares of D-Wave Quantum (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director John Dilullo sold 8,000 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $18.01, for a total transaction of $144,080.00. Following the transaction, the director directly owned 19,803 shares in the company, valued at $356,652.03. The trade was a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

D-Wave Quantum Stock Performance

Shares of NYSE QBTS traded down $0.21 during trading hours on Friday, hitting $18.62. 27,180,057 shares of the company’s stock were exchanged, compared to its average volume of 32,142,439. D-Wave Quantum Inc. has a 1-year low of $4.49 and a 1-year high of $46.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 42.38 and a quick ratio of 54.49. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of -16.93 and a beta of 1.61. The company’s 50-day moving average price is $23.41 and its 200-day moving average price is $24.92.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The firm had revenue of $2.75 million for the quarter, compared to the consensus estimate of $3.74 million. D-Wave Quantum had a negative net margin of 1,444.10% and a negative return on equity of 58.58%. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, sell-side analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

QBTS has been the topic of a number of research reports. Canaccord Genuity Group set a $43.00 target price on shares of D-Wave Quantum in a research report on Thursday, January 29th. Zacks Research raised shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Roth Mkm reduced their price target on D-Wave Quantum from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, February 27th. TD Cowen initiated coverage on shares of D-Wave Quantum in a research report on Thursday, February 12th. They issued a “buy” rating for the company. Finally, Wedbush initiated coverage on D-Wave Quantum in a research note on Wednesday, December 17th. They issued an “outperform” rating and a $35.00 price target on the stock. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Institutional Investors Weigh In On D-Wave Quantum

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of D-Wave Quantum by 41.2% in the 3rd quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company’s stock worth $950,220,000 after purchasing an additional 11,218,255 shares during the period. UBS Group AG raised its position in shares of D-Wave Quantum by 541.6% in the third quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock worth $298,737,000 after buying an additional 10,205,427 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of D-Wave Quantum by 11.5% during the fourth quarter. Geode Capital Management LLC now owns 8,394,726 shares of the company’s stock worth $220,085,000 after purchasing an additional 866,405 shares in the last quarter. State Street Corp increased its holdings in shares of D-Wave Quantum by 5.3% in the 4th quarter. State Street Corp now owns 7,707,085 shares of the company’s stock worth $201,540,000 after buying an additional 385,809 shares during the last quarter. Finally, Marex Group plc purchased a new stake in D-Wave Quantum during the second quarter valued at about $80,070,000. Institutional investors own 42.47% of the company’s stock.

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.