D-Wave Quantum Inc. (NYSE:QBTS) Major Shareholder Sector Pension Investme Public Sells 7,278,688 Shares

D-Wave Quantum Inc. (NYSE:QBTS) major shareholder Sector Pension Investme Public sold 7,278,688 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $4.07, for a total value of $29,624,260.16. Following the completion of the sale, the insider now owns 30,000,000 shares of the company’s stock, valued at $122,100,000. The trade was a 19.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 Friday, January 10th, Sector Pension Investme Public sold 2,778,564 shares of D-Wave Quantum stock. The stock was sold at an average price of $6.14, for a total value of $17,060,382.96.
• 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 value 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 stock was sold at an average price of $4.87, for a total transaction of $3,135,627.42.

D-Wave Quantum Stock Performance

QBTS stock traded up $0.92 during midday trading on Tuesday, reaching $4.75. 139,682,431 shares of the company traded hands, compared to its average volume of 100,537,969. D-Wave Quantum Inc. has a 52-week low of $0.68 and a 52-week high of $11.41. The business has a 50 day moving average of $4.89 and a 200-day moving average of $2.38. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -11.31 and a beta of 1.16.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On D-Wave Quantum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QBTS. Bank of New York Mellon Corp purchased a new stake in D-Wave Quantum during the second quarter valued at approximately $251,000. Rhumbline Advisers bought a new position in shares of D-Wave Quantum during the second quarter valued at approximately $93,000. Thoroughbred Financial Services LLC bought a new position in shares of D-Wave Quantum during the second quarter valued at approximately $45,000. XTX Topco Ltd bought a new position in shares of D-Wave Quantum during the second quarter valued at approximately $163,000. Finally, Marshall Wace LLP bought a new position in shares of D-Wave Quantum during the second quarter valued at approximately $265,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

D-Wave Quantum Company Profile

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.