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 stock in a transaction on Friday, December 20th. The shares were 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 Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 shares were sold at an average price of $4.21, for a total transaction of $35,522,266.53.
• On Tuesday, December 10th, Sector Pension Investme Public sold 643,866 shares of D-Wave Quantum stock. The shares were sold at an average price of $4.87, for a total value of $3,135,627.42.

D-Wave Quantum Stock Down 2.5 %

Shares of QBTS stock opened at $7.95 on Wednesday. The company has a market capitalization of $1.78 billion, a P/E ratio of -18.93 and a beta of 1.79. D-Wave Quantum Inc. has a 12-month low of $0.68 and a 12-month high of $10.50. The firm has a 50-day moving average price of $2.78 and a 200 day moving average price of $1.64.

Analyst Upgrades and Downgrades

QBTS has been the topic of several recent research reports. Roth Mkm lifted their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Benchmark lifted their price target on shares of D-Wave Quantum from $3.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a report on Friday, November 15th. Craig Hallum upped 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. Finally, B. Riley raised their price target on shares of D-Wave Quantum from $3.75 to $4.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $5.63.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC increased its holdings in D-Wave Quantum by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock valued at $4,409,000 after purchasing an additional 839,942 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of D-Wave Quantum by 33.8% in the third quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock valued at $2,513,000 after buying an additional 645,039 shares in the last quarter. State Street Corp raised its holdings in shares of D-Wave Quantum by 0.9% in the third quarter. State Street Corp now owns 2,020,977 shares of the company’s stock valued at $1,986,000 after buying an additional 17,225 shares during the last quarter. Marshall Wace LLP acquired a new position in D-Wave Quantum during the 2nd quarter worth about $265,000. Finally, Bank of New York Mellon Corp bought a new stake in D-Wave Quantum during the 2nd quarter worth about $251,000. Institutional investors own 42.47% of the company’s stock.

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.