Stephens Inc. AR Makes New $494,000 Investment in D-Wave Quantum Inc. (NYSE:QBTS)

Stephens Inc. AR acquired a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,832 shares of the company’s stock, valued at approximately $494,000.

Several other institutional investors have also recently made changes to their positions in QBTS. SG Americas Securities LLC bought a new stake in shares of D-Wave Quantum in the 3rd quarter worth $42,000. Bogart Wealth LLC bought a new stake in shares of D-Wave Quantum in the 3rd quarter worth $49,000. Kingsview Wealth Management LLC bought a new stake in shares of D-Wave Quantum in the 4th quarter worth $84,000. Spire Wealth Management bought a new stake in shares of D-Wave Quantum in the 4th quarter worth $90,000. Finally, Barclays PLC grew its stake in shares of D-Wave Quantum by 298.3% in 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 in the last quarter. Institutional investors own 42.47% of the company’s stock.

Insider Buying and Selling at D-Wave Quantum

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

Analyst Upgrades and Downgrades

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

D-Wave Quantum Stock Down 1.9 %

NYSE QBTS opened at $6.38 on Friday. The company has a market cap of $1.72 billion, a PE ratio of -15.18 and a beta of 1.10. D-Wave Quantum Inc. has a 52 week low of $0.75 and a 52 week high of $11.41. The firm’s 50-day simple moving average is $6.56 and its two-hundred day simple moving average is $3.11.

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.