Sector Pension Investme Public Sells 8,437,593 Shares of D-Wave Quantum Inc. (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS) major shareholder Sector Pension Investme Public sold 8,437,593 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 1,000,000 shares of the company’s stock, valued at approximately $4,210,000. This trade represents a 89.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Sector Pension Investme Public also recently made the following trade(s):

• 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 Price Performance

QBTS opened at $5.00 on Friday. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -11.89 and a beta of 1.79. D-Wave Quantum Inc. has a 1 year low of $0.68 and a 1 year high of $5.38. The business’s 50-day moving average price is $1.99 and its two-hundred day moving average price is $1.38.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. B. Riley raised their price target on D-Wave Quantum from $3.75 to $4.50 and gave the stock a “buy” rating in a research report on Monday, November 25th. 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. Finally, Needham & Company LLC restated 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, the company currently has an average rating of “Buy” and an average target price of $3.71.

Hedge Funds Weigh In On D-Wave Quantum

Several hedge funds have recently made changes to their positions in the business. Barclays PLC raised its holdings in D-Wave Quantum by 298.3% during the third 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. Geode Capital Management LLC raised its stake in shares of D-Wave Quantum by 33.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock worth $2,513,000 after purchasing an additional 645,039 shares in the last quarter. State Street Corp raised its stake in shares of D-Wave Quantum by 0.9% during the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company’s stock worth $1,986,000 after purchasing an additional 17,225 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of D-Wave Quantum by 23.0% in the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock valued at $4,409,000 after buying an additional 839,942 shares during the last quarter. Finally, Bogart Wealth LLC bought a new position in shares of D-Wave Quantum in the third quarter valued at $49,000. 42.47% of the stock is owned by 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.