UNICOM Systems Inc. Invests $20.26 Million in D-Wave Quantum Inc. (NYSE:QBTS)

UNICOM Systems Inc. bought a new stake in D-Wave Quantum Inc. (NYSE:QBTS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,411,704 shares of the company’s stock, valued at approximately $20,258,000. D-Wave Quantum comprises approximately 4.9% of UNICOM Systems Inc.’s holdings, making the stock its 5th biggest holding. UNICOM Systems Inc. owned approximately 0.90% of D-Wave Quantum at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of QBTS. Kingsview Wealth Management LLC acquired a new position in shares of D-Wave Quantum in the 4th quarter valued at $84,000. Spire Wealth Management purchased a new stake in D-Wave Quantum in the fourth quarter valued at approximately $90,000. Sonora Investment Management Group LLC acquired a new stake in shares of D-Wave Quantum in the fourth quarter valued at approximately $135,000. Strategic Advocates LLC purchased a new position in shares of D-Wave Quantum during the fourth quarter worth approximately $148,000. Finally, Arkadios Wealth Advisors acquired a new position in shares of D-Wave Quantum in the 4th quarter valued at $162,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $4.07, for a total transaction of $29,624,260.16. Following the completion of the sale, the insider now directly owns 30,000,000 shares in the company, valued at $122,100,000. This represents a 19.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $44,120.44. Following the completion of the transaction, the chief executive officer now directly owns 2,342,208 shares in the company, valued at $12,343,436.16. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,152,665 shares of company stock worth $92,096,075. Insiders own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on QBTS shares. Needham & Company LLC reiterated a “buy” rating and set a $2.25 price target on shares of D-Wave Quantum in a research note on Friday, November 15th. Benchmark reiterated a “buy” rating and set a $8.00 target price on shares of D-Wave Quantum in a research note on Tuesday, January 14th. B. Riley upped their price objective on D-Wave Quantum from $4.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Craig Hallum lifted their target price on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Roth Mkm upped their price target on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, D-Wave Quantum presently has an average rating of “Buy” and a consensus price target of $6.38.

D-Wave Quantum Trading Up 0.1 %

Shares of QBTS opened at $5.82 on Tuesday. The company has a 50-day simple moving average of $6.34 and a 200-day simple moving average of $3.00. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $11.41.

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.