Insider Selling: D-Wave Quantum Inc. (NYSE:QBTS) Major Shareholder Sells 1,000,000 Shares of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 stock was 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 Trading Down 2.5 %

Shares of NYSE:QBTS opened at $7.95 on Thursday. The firm’s 50 day moving average is $3.06 and its two-hundred day moving average is $1.73. The firm 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 52 week low of $0.68 and a 52 week high of $10.50.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on QBTS. 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. Roth Mkm boosted their price objective on shares of D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Benchmark raised their target price on shares of D-Wave Quantum from $3.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Craig Hallum upped their target price on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, B. Riley raised their price target on D-Wave Quantum from $3.75 to $4.50 and gave the stock a “buy” rating in a report on Monday, November 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $5.63.

Institutional Trading of D-Wave Quantum

Several large investors have recently added to or reduced their stakes in the business. Thoroughbred Financial Services LLC acquired a new position in shares of D-Wave Quantum during the second quarter valued at $45,000. SG Americas Securities LLC bought a new stake in shares of D-Wave Quantum during the 3rd quarter worth about $42,000. Bogart Wealth LLC bought a new position in shares of D-Wave Quantum in the third quarter valued at approximately $49,000. Rhumbline Advisers acquired a new position in shares of D-Wave Quantum during the second quarter valued at approximately $93,000. Finally, Barclays PLC raised its holdings in D-Wave Quantum by 298.3% during the third quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after purchasing an additional 89,894 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

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.