Laidlaw Wealth Management LLC Trims Stock Position in D-Wave Quantum Inc. (NYSE:QBTS)

Laidlaw Wealth Management LLC cut its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 9.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,697 shares of the company’s stock after selling 4,773 shares during the period. Laidlaw Wealth Management LLC’s holdings in D-Wave Quantum were worth $384,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QBTS. SG Americas Securities LLC acquired a new position in D-Wave Quantum during the 3rd quarter worth approximately $42,000. Bogart Wealth LLC acquired a new position in D-Wave Quantum during the 3rd quarter worth approximately $49,000. Kingsview Wealth Management LLC acquired a new position in D-Wave Quantum during the 4th quarter worth approximately $84,000. Spire Wealth Management acquired a new position in D-Wave Quantum during the 4th quarter worth approximately $90,000. Finally, Vontobel Holding Ltd. acquired a new position in D-Wave Quantum during the 4th quarter worth approximately $105,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $44,120.44. Following the sale, the chief executive officer now owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. This represents a 0.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Sector Pension Investme Public sold 643,866 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $4.87, for a total value of $3,135,627.42. Following the transaction, the insider now directly owns 18,730,193 shares in the company, valued at approximately $91,216,039.91. This represents a 3.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,152,665 shares of company stock worth $92,096,075. 7.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on QBTS. B. Riley boosted their target price on D-Wave Quantum from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $2.25 price target on shares of D-Wave Quantum in a report on Friday, November 15th. Craig Hallum upped their price target on D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Benchmark restated a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a report on Tuesday, January 14th. Finally, Roth Mkm upped their price target on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Six research 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 an average price target of $6.71.

D-Wave Quantum Trading Down 5.6 %

Shares of NYSE:QBTS opened at $6.02 on Wednesday. The business’s fifty day moving average price is $6.65 and its two-hundred day moving average price is $3.25. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $11.41.

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.