Insider Selling: D-Wave Quantum Inc. (NYSE:QBTS) Major Shareholder Sells $6,680,000.00 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) major shareholder Sector Pension Investme Public sold 1,000,000 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $6.68, for a total transaction of $6,680,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, December 12th, Sector Pension Investme Public sold 8,437,593 shares of D-Wave Quantum stock. The stock was sold at an average price of $4.21, for a total value of $35,522,266.53.
• 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 Stock Down 2.5 %

Shares of QBTS stock opened at $7.95 on Thursday. D-Wave Quantum Inc. has a 12-month low of $0.68 and a 12-month high of $10.50. The company has a market capitalization of $1.78 billion, a PE ratio of -18.93 and a beta of 1.79. The firm has a 50 day moving average price of $3.06 and a two-hundred day moving average price of $1.73.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Craig Hallum boosted their price objective 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 boosted 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. Benchmark upped their price objective on D-Wave Quantum from $3.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Roth Mkm lifted their target price on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $5.63.

Hedge Funds Weigh In On D-Wave Quantum

A number of large investors have recently made changes to their positions in the company. Thoroughbred Financial Services LLC bought a new position in D-Wave Quantum during the second quarter worth about $45,000. SG Americas Securities LLC bought a new position in shares of D-Wave Quantum during the third quarter worth approximately $42,000. Bogart Wealth LLC acquired a new stake in shares of D-Wave Quantum in the third quarter valued at approximately $49,000. Rhumbline Advisers bought a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $93,000. Finally, Barclays PLC grew its position 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 buying an additional 89,894 shares in the last quarter. Institutional investors own 42.47% of the company’s stock.

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.