Heritage Wealth Advisors Invests $67,000 in D-Wave Quantum Inc. (NYSE:QBTS)

Heritage Wealth Advisors acquired a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 7,985 shares of the company’s stock, valued at approximately $67,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in D-Wave Quantum by 103.7% in the 4th quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company’s stock valued at $59,794,000 after purchasing an additional 3,624,407 shares during the period. UNICOM Systems Inc. bought a new stake in D-Wave Quantum during the fourth quarter valued at $20,258,000. Geode Capital Management LLC boosted its stake in D-Wave Quantum by 33.8% during 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 during the period. Raymond James Financial Inc. purchased a new position in D-Wave Quantum during the fourth quarter worth about $2,087,000. Finally, Commonwealth Equity Services LLC increased its stake in D-Wave Quantum by 1,097.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 228,047 shares of the company’s stock worth $1,916,000 after acquiring an additional 209,000 shares during the last quarter. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Insider Buying and Selling

In other D-Wave Quantum news, CFO John M. Markovich sold 5,582 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the completion of the sale, the chief financial officer now 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Sector Pension Investme Public sold 2,778,564 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $6.14, for a total transaction of $17,060,382.96. Following the completion of the sale, the insider now directly owns 37,278,688 shares in the company, valued at approximately $228,891,144.32. This trade represents a 6.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,071,206 shares of company stock worth $46,758,181 in the last ninety days. 7.22% of the stock is owned by insiders.

D-Wave Quantum Stock Performance

Shares of D-Wave Quantum stock opened at $8.27 on Thursday. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $11.95. The company has a fifty day moving average of $6.53 and a 200-day moving average of $4.36. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -19.68 and a beta of 1.12.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The business had revenue of $2.31 million for the quarter, compared to analyst estimates of $2.23 million. On average, equities research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

QBTS has been the subject of several recent analyst reports. Benchmark reissued a “buy” rating and set a $8.00 price objective on shares of D-Wave Quantum in a report on Friday, March 14th. Roth Mkm increased their price target on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, March 14th. B. Riley raised their price objective on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Needham & Company LLC reiterated a “buy” rating and issued a $8.50 target price on shares of D-Wave Quantum in a research report on Friday, March 14th. Finally, Craig Hallum raised their price target on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum presently has an average rating of “Buy” and an average price target of $8.42.

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.