Strategic Advocates LLC Makes New Investment in D-Wave Quantum Inc. (NYSE:QBTS)

Strategic Advocates LLC purchased a new stake in D-Wave Quantum Inc. (NYSE:QBTS) in the fourth quarter, HoldingsChannel reports. The firm purchased 17,561 shares of the company’s stock, valued at approximately $148,000.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of D-Wave Quantum in the 3rd quarter valued at approximately $42,000. Bogart Wealth LLC acquired a new position in D-Wave Quantum in the 3rd quarter worth $49,000. Barclays PLC raised 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 valued at $117,000 after purchasing an additional 89,894 shares during the period. Sonora Investment Management Group LLC acquired a new stake in shares of D-Wave Quantum in the 4th quarter valued at about $135,000. Finally, Arkadios Wealth Advisors bought a new stake in shares of D-Wave Quantum in the fourth quarter valued at about $162,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the stock in a transaction 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 transaction, the insider now owns 1,000,000 shares in the company, valued at $4,210,000. This trade represents a 89.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John M. Markovich sold 5,582 shares of D-Wave Quantum stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $29,417.14. Following the sale, the chief financial officer now directly owns 1,064,556 shares of the company’s stock, valued at $5,610,210.12. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,152,665 shares of company stock worth $92,096,075 over the last ninety days. Insiders own 7.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on QBTS shares. Benchmark reissued a “buy” rating and issued a $8.00 target price on shares of D-Wave Quantum in a research report on Tuesday, January 14th. B. Riley lifted their price objective on shares of D-Wave Quantum from $4.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Craig Hallum lifted their price target 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. Needham & Company LLC restated a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a research note on Friday, November 15th. Finally, Roth Mkm lifted their target price on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $6.38.

D-Wave Quantum Price Performance

QBTS stock opened at $5.64 on Friday. The business’s 50 day simple moving average is $5.90 and its 200 day simple moving average is $2.75. D-Wave Quantum Inc. has a 1-year low of $0.75 and a 1-year high of $11.41.

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.