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

Intech Investment Management LLC reduced its position in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 54.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 88,850 shares of the company’s stock after selling 107,035 shares during the period. Intech Investment Management LLC’s holdings in D-Wave Quantum were worth $2,195,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of QBTS. Financial Consulate Inc. acquired a new stake in D-Wave Quantum in the third quarter valued at $31,000. GAMMA Investing LLC raised its position in shares of D-Wave Quantum by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock worth $46,000 after acquiring an additional 482 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of D-Wave Quantum during the 2nd quarter worth about $29,000. Nvwm LLC purchased a new stake in D-Wave Quantum during the third quarter worth approximately $52,000. Finally, Rothschild Investment LLC boosted its holdings in D-Wave Quantum by 278.8% in the third quarter. Rothschild Investment LLC now owns 2,140 shares of the company’s stock valued at $53,000 after purchasing an additional 1,575 shares in the last quarter. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on QBTS shares. Williams Trading set a $35.00 price objective on shares of D-Wave Quantum in a report on Monday, November 10th. Cantor Fitzgerald lifted their price target 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. Wall Street Zen cut shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Needham & Company LLC decreased their price objective on shares of D-Wave Quantum from $48.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Finally, Jefferies Financial Group assumed coverage on D-Wave Quantum in a research report on Tuesday, December 16th. They set a “buy” rating and a $45.00 target price on the stock. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.50.

D-Wave Quantum Trading Down 3.7%

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

D-Wave Quantum (NYSE:QBTS) last announced its earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The business had revenue of $2.75 million for the quarter, compared to analyst estimates of $3.74 million. D-Wave Quantum had a negative return on equity of 67.75% and a negative net margin of 1,444.10%.The company’s revenue for the quarter 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 year.

Insider Buying and Selling

In related news, Director Rohit Ghai sold 10,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $24.28, for a total transaction of $242,800.00. Following the completion of the sale, the director directly owned 37,778 shares of the company’s stock, valued at $917,249.84. This trade represents a 20.93% decrease in their ownership of the stock. 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 on Wednesday, January 14th. The shares were sold at an average price of $28.06, for a total transaction of $982,464.78. Following the completion of the transaction, the chief executive officer owned 2,598,150 shares in the company, valued at approximately $72,904,089. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 967,466 shares of company stock valued at $28,895,466 over the last 90 days. Insiders own 3.20% 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.