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

D-Wave Quantum Inc. (NYSE:QBTSGet Free Report) major shareholder Sector Pension Investme Public sold 2,778,564 shares of D-Wave Quantum stock in a transaction on Friday, January 10th. The stock was sold at an average price of $6.14, for a total transaction of $17,060,382.96. Following the transaction, the insider now directly owns 37,278,688 shares in the company, valued at $228,891,144.32. This represents a 6.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Monday, January 13th, Sector Pension Investme Public sold 7,278,688 shares of D-Wave Quantum stock. The shares were sold at an average price of $4.07, for a total transaction 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 transaction 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 transaction 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 value of $3,135,627.42.

D-Wave Quantum Stock Up 24.0 %

Shares of NYSE:QBTS opened at $4.75 on Wednesday. The firm has a market capitalization of $1.28 billion, a PE ratio of -11.31 and a beta of 1.16. The company has a 50-day moving average price of $4.97 and a two-hundred day moving average price of $2.41. D-Wave Quantum Inc. has a twelve month low of $0.68 and a twelve month high of $11.41.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in D-Wave Quantum during the 3rd quarter valued at $42,000. Thoroughbred Financial Services LLC bought a new stake in shares of D-Wave Quantum during the 2nd quarter valued at $45,000. Bogart Wealth LLC purchased a new stake in D-Wave Quantum during the 3rd quarter worth about $49,000. Rhumbline Advisers bought a new position in D-Wave Quantum in the 2nd quarter worth about $93,000. Finally, Barclays PLC grew its holdings in D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock valued at $117,000 after buying an additional 89,894 shares in the last quarter. 42.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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D-Wave Quantum Company Profile

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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.

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