Alan Baratz Sells 31,369 Shares of D-Wave Quantum (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan Baratz sold 31,369 shares of D-Wave Quantum stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $43.74, for a total value of $1,372,080.06. Following the sale, the chief executive officer directly owned 2,801,265 shares in the company, valued at approximately $122,527,331.10. The trade was a 1.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

D-Wave Quantum Price Performance

Shares of NYSE QBTS opened at $40.45 on Friday. The company has a quick ratio of 42.86, a current ratio of 42.99 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a fifty-two week low of $0.98 and a fifty-two week high of $46.75. The business has a 50 day moving average price of $22.89 and a two-hundred day moving average price of $16.63. The firm has a market cap of $13.83 billion, a PE ratio of -38.52 and a beta of 1.49.

D-Wave Quantum (NYSE:QBTS) last announced its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The business had revenue of $3.10 million during the quarter, compared to analyst estimates of $2.55 million. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. Sell-side analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On D-Wave Quantum

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Marex Group plc bought a new stake in shares of D-Wave Quantum in the 2nd quarter worth approximately $80,070,000. Vanguard Group Inc. grew its stake in D-Wave Quantum by 58.5% during the 1st quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company’s stock worth $85,766,000 after buying an additional 4,166,721 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in D-Wave Quantum in the second quarter worth $45,372,000. Penserra Capital Management LLC increased its position in D-Wave Quantum by 80.1% in the first quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company’s stock worth $38,518,000 after buying an additional 2,253,741 shares during the period. Finally, UNICOM Systems Inc. lifted its stake in D-Wave Quantum by 91.9% in the first quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company’s stock valued at $35,171,000 after buying an additional 2,216,000 shares during the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Benchmark reiterated a “buy” rating and set a $20.00 price objective on shares of D-Wave Quantum in a research note on Monday, August 4th. B. Riley upped their target price on shares of D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Needham & Company LLC reiterated a “buy” rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Rosenblatt Securities started coverage on D-Wave Quantum in a report on Tuesday, July 29th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Zacks Research cut D-Wave Quantum from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, D-Wave Quantum presently has an average rating of “Moderate Buy” and a consensus price target of $20.27.

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.