Oppenheimer & Co. Inc. Acquires New Shares in D-Wave Quantum Inc. (NYSE:QBTS)

Oppenheimer & Co. Inc. acquired a new stake in D-Wave Quantum Inc. (NYSE:QBTS) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 126,300 shares of the company’s stock, valued at approximately $1,061,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QBTS. Kingsview Wealth Management LLC bought a new position in D-Wave Quantum in the 4th quarter valued at approximately $84,000. Spire Wealth Management bought a new position in D-Wave Quantum in the 4th quarter valued at approximately $90,000. Vontobel Holding Ltd. bought a new position in D-Wave Quantum in the 4th quarter valued at approximately $105,000. Truist Financial Corp bought a new position in D-Wave Quantum in the 4th quarter valued at approximately $108,000. Finally, Barclays PLC lifted its position in D-Wave Quantum by 298.3% in the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock valued at $117,000 after acquiring an additional 89,894 shares in the last quarter. 42.47% of the stock is owned by institutional investors.

D-Wave Quantum Stock Performance

Shares of D-Wave Quantum stock opened at $5.32 on Wednesday. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $11.41. The stock’s fifty day moving average is $6.54 and its 200 day moving average is $3.62. The stock has a market cap of $1.43 billion, a P/E ratio of -12.65 and a beta of 1.10.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CEO Alan E. Baratz sold 8,372 shares of the firm’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 transaction, the chief executive officer now directly owns 2,342,208 shares of the company’s stock, valued at approximately $12,343,436.16. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $4.07, for a total value of $29,624,260.16. Following the sale, the insider now directly owns 30,000,000 shares in the company, valued at approximately $122,100,000. This represents a 19.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,152,665 shares of company stock valued at $92,096,075. 7.22% of the stock is owned by company insiders.

D-Wave Quantum 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.