Hall Kathryn A. Makes New $329,000 Investment in D-Wave Quantum Inc. (NYSE:QBTS)

Hall Kathryn A. acquired a new stake in D-Wave Quantum Inc. (NYSE:QBTS) during the fourth quarter, Holdings Channel.com reports. The firm acquired 39,123 shares of the company’s stock, valued at approximately $329,000. D-Wave Quantum accounts for 0.2% of Hall Kathryn A.’s portfolio, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QBTS. Barclays PLC increased its stake in D-Wave Quantum by 298.3% in the third quarter. Barclays PLC now owns 120,029 shares of the company’s stock valued at $117,000 after purchasing an additional 89,894 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of D-Wave Quantum by 40.9% in the 4th quarter. Bank of New York Mellon Corp now owns 219,620 shares of the company’s stock valued at $1,845,000 after buying an additional 63,799 shares during the period. Silverleafe Capital Partners LLC bought a new stake in D-Wave Quantum in the 4th quarter valued at about $820,000. Commonwealth Equity Services LLC raised its stake in D-Wave Quantum by 1,097.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 228,047 shares of the company’s stock worth $1,916,000 after buying an additional 209,000 shares during the period. Finally, Truist Financial Corp bought a new position in D-Wave Quantum in the fourth quarter worth approximately $108,000. 42.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at D-Wave Quantum

In related news, CFO John M. Markovich sold 5,582 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $29,417.14. Following the transaction, the chief financial officer now directly owns 1,064,556 shares of the company’s stock, valued at approximately $5,610,210.12. The trade was a 0.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alan E. Baratz sold 8,372 shares of the firm’s 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 sale, the chief executive officer now owns 2,342,208 shares of the company’s stock, valued at $12,343,436.16. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,071,206 shares of company stock valued at $46,758,181. 7.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on QBTS shares. Needham & Company LLC restated a “buy” rating and set a $8.50 price objective on shares of D-Wave Quantum in a report on Friday, March 14th. B. Riley upped their price objective on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Roth Mkm lifted their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, March 14th. Craig Hallum upped their target price on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of D-Wave Quantum in a research note on Friday, March 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $8.42.

D-Wave Quantum Price Performance

Shares of QBTS stock opened at $7.60 on Tuesday. The firm has a 50-day moving average of $6.67 and a 200-day moving average of $4.53. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $11.95. The company has a market cap of $2.21 billion, a P/E ratio of -18.08 and a beta of 1.12.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.37) 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 analysts’ expectations of $2.23 million. As a group, research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal 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.