WINTON GROUP Ltd Buys Shares of 37,375 D-Wave Quantum Inc. (NYSE:QBTS)

WINTON GROUP Ltd bought a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) in the 4th quarter, Holdings Channel reports. The firm bought 37,375 shares of the company’s stock, valued at approximately $314,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Heritage Wealth Advisors purchased a new position in D-Wave Quantum during the fourth quarter valued at $67,000. Prudential Financial Inc. purchased a new position in shares of D-Wave Quantum in the 4th quarter worth about $95,000. Corebridge Financial Inc. boosted its stake in D-Wave Quantum by 5.0% in the 4th quarter. Corebridge Financial Inc. now owns 49,174 shares of the company’s stock worth $413,000 after purchasing an additional 2,342 shares in the last quarter. Vanguard Group Inc. grew its position in D-Wave Quantum by 103.7% during 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 last quarter. Finally, HUB Investment Partners LLC bought a new stake in D-Wave Quantum during the 4th quarter valued at about $105,000. 42.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on QBTS. Benchmark reiterated a “buy” rating and issued a $8.00 target price on shares of D-Wave Quantum in a research note on Friday, March 14th. Needham & Company LLC reiterated a “buy” rating and set a $8.50 target price on shares of D-Wave Quantum in a research note on Friday, March 14th. Roth Mkm lifted their target price on 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 upped their price target on D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, March 14th. Finally, Craig Hallum lifted their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $8.42.

Insider Activity at D-Wave Quantum

In other news, CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $44,120.44. Following the transaction, the chief executive officer now directly owns 2,342,208 shares of the company’s stock, valued at $12,343,436.16. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Sector Pension Investme Public sold 2,778,564 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $6.14, for a total value of $17,060,382.96. Following the transaction, the insider now owns 37,278,688 shares of the company’s stock, valued at approximately $228,891,144.32. This trade represents a 6.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,071,206 shares of company stock worth $46,758,181. 7.22% of the stock is owned by company insiders.

D-Wave Quantum Price Performance

QBTS stock opened at $7.58 on Monday. The company has a market cap of $2.21 billion, a P/E ratio of -18.04 and a beta of 1.12. D-Wave Quantum Inc. has a 1 year low of $0.75 and a 1 year high of $11.95. The stock’s fifty day moving average price is $6.62 and its 200-day moving average price is $4.48.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). The business had revenue of $2.31 million during the quarter, compared to analyst estimates of $2.23 million. As a group, analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

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.