Jacobi Capital Management LLC Has $211,000 Stock Position in D-Wave Quantum Inc. (NYSE:QBTS)

Jacobi Capital Management LLC grew its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 107.4% during the 4th quarter, Holdings Channel reports. The firm owned 25,100 shares of the company’s stock after buying an additional 13,000 shares during the period. Jacobi Capital Management LLC’s holdings in D-Wave Quantum were worth $211,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in QBTS. Kingsview Wealth Management LLC acquired a new position in shares of D-Wave Quantum during the 4th quarter worth approximately $84,000. Spire Wealth Management acquired a new position in shares of D-Wave Quantum during the 4th quarter worth approximately $90,000. Vontobel Holding Ltd. acquired a new position in shares of D-Wave Quantum during the 4th quarter worth approximately $105,000. Truist Financial Corp acquired a new position in shares of D-Wave Quantum during the 4th quarter worth approximately $108,000. Finally, Barclays PLC increased its holdings in shares of D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after acquiring an additional 89,894 shares during the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

D-Wave Quantum Stock Performance

NYSE:QBTS opened at $4.90 on Tuesday. The stock has a fifty day moving average price of $6.59 and a 200-day moving average price of $3.59. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -11.67 and a beta of 1.10. D-Wave Quantum Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $11.41.

Insider Activity

In related news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $4.21, for a total transaction of $35,522,266.53. Following the completion of the sale, the insider now directly owns 1,000,000 shares in the company, valued at $4,210,000. This represents a 89.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alan E. Baratz sold 8,372 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $44,120.44. Following the sale, the chief executive officer now owns 2,342,208 shares of the company’s stock, valued at approximately $12,343,436.16. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,152,665 shares of company stock worth $92,096,075. 7.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

QBTS has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $2.25 target price on shares of D-Wave Quantum in a report on Friday, November 15th. Roth Mkm boosted their price target on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. B. Riley boosted their price target on D-Wave Quantum from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Benchmark restated a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Finally, Craig Hallum boosted their price target on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $6.71.

About D-Wave Quantum

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.