Insider Selling: D-Wave Quantum (NYSE:QBTS) CFO Sells $5,142,000.00 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) CFO John Markovich sold 200,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $25.71, for a total transaction of $5,142,000.00. Following the transaction, the chief financial officer owned 1,142,820 shares in the company, valued at $29,381,902.20. The trade was a 14.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

D-Wave Quantum Trading Up 7.6%

QBTS stock opened at $24.65 on Friday. The company has a market capitalization of $9.12 billion, a PE ratio of -21.82 and a beta of 2.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41. D-Wave Quantum Inc. has a one year low of $12.75 and a one year high of $46.75. The company’s 50 day moving average price is $22.53 and its two-hundred day moving average price is $22.32.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The company had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $4.19 million. During the same quarter in the prior year, the company earned ($0.02) EPS. The firm’s revenue was down 80.9% on a year-over-year basis. As a group, analysts predict that D-Wave Quantum Inc. will post -0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On D-Wave Quantum

A number of large investors have recently added to or reduced their stakes in QBTS. Root Financial Partners LLC raised its stake in shares of D-Wave Quantum by 388.0% during the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock valued at $26,000 after acquiring an additional 776 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of D-Wave Quantum by 545.5% during the first quarter. Parallel Advisors LLC now owns 1,788 shares of the company’s stock worth $26,000 after purchasing an additional 1,511 shares during the period. Kemnay Advisory Services Inc. bought a new stake in shares of D-Wave Quantum in the fourth quarter worth about $28,000. PeakShares LLC bought a new stake in shares of D-Wave Quantum in the first quarter worth about $29,000. Finally, EverSource Wealth Advisors LLC increased its holdings in D-Wave Quantum by 267.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock valued at $30,000 after purchasing an additional 838 shares during the period. Institutional investors own 42.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $43.00 price objective on shares of D-Wave Quantum in a research note on Thursday, June 11th. Stifel Nicolaus set a $35.00 target price on D-Wave Quantum in a research note on Tuesday, June 2nd. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of D-Wave Quantum in a report on Tuesday, June 2nd. Canaccord Genuity Group dropped their target price on D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Finally, Roth Mkm raised their price target on D-Wave Quantum from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Fourteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, D-Wave Quantum has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Key D-Wave Quantum News

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: D-Wave announced the world’s first gate-model quantum computing simulator for error-aware programming, a product that could help developers build more reliable quantum applications and support its push into commercial gate-model computing. Article Title
• Positive Sentiment: The company also said it secured up to $100 million in CHIPS Act-related backing and outlined a roadmap toward 100 logical qubits by 2032, which investors may view as validation of its federal support and future R&D pipeline. Article Title
• Positive Sentiment: Analyst sentiment remains constructive, with recent price-target increases from firms including Mizuho, Roth MKM, and B. Riley reinforcing the view that QBTS may still have upside if execution improves. Article Title
• Neutral Sentiment: Commentary continues to frame D-Wave as a leading pure-play quantum stock, but also notes that the valuation is demanding and leaves little room for disappointment. Article Title
• Negative Sentiment: Recent SEC filings showed director Rohit Ghai sold shares under a pre-arranged trading plan, which can weigh on sentiment even if the sale was not driven by a negative outlook. Article Title
• Negative Sentiment: Some traders appear to be taking profits after a sharp sector rally, which has created volatility across quantum-computing names and may limit follow-through gains in QBTS. Article Title

About D-Wave Quantum

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.