D-Wave Quantum (NYSE:QBTS) Stock Price Down 3.6% Following Insider Selling

D-Wave Quantum Inc. (NYSE:QBTS)’s stock price fell 3.6% during trading on Monday following insider selling activity. The stock traded as low as $22.19 and last traded at $22.77. 29,882,908 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 63,745,715 shares. The stock had previously closed at $23.61.

Specifically, CFO John M. Markovich sold 98,060 shares of D-Wave Quantum stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $23.17, for a total transaction of $2,272,050.20. Following the transaction, the chief financial officer owned 1,482,874 shares in the company, valued at approximately $34,358,190.58. The trade was a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan E. Baratz sold 168,102 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $23.17, for a total value of $3,894,923.34. Following the completion of the sale, the chief executive officer owned 2,633,163 shares of the company’s stock, valued at $61,010,386.71. The trade was a 6.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other D-Wave Quantum news, CEO Alan E. Baratz sold 806,288 shares of D-Wave Quantum stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $28.87, for a total transaction of $23,277,534.56. Following the transaction, the chief executive officer directly owned 2,801,265 shares of the company’s stock, valued at approximately $80,872,520.55. The trade was a 22.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

QBTS has been the subject of several recent research reports. Benchmark increased their price target on D-Wave Quantum from $20.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Wall Street Zen raised shares of D-Wave Quantum from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Stifel Nicolaus assumed coverage on shares of D-Wave Quantum in a research report on Tuesday, August 5th. They issued a “buy” rating and a $26.00 price target on the stock. Roth Capital set a $40.00 price objective on shares of D-Wave Quantum in a research note on Thursday, November 6th. Finally, B. Riley lifted their target price on shares of D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.67.

D-Wave Quantum Stock Down 3.6%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68. The firm’s 50 day moving average price is $29.17 and its two-hundred day moving average price is $20.41. The company has a market cap of $7.97 billion, a P/E ratio of -16.87 and a beta of 1.53.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. The business had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $3.03 million. The firm’s revenue was up 105.6% compared to the same quarter last year. Equities research analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in QBTS. GAMMA Investing LLC increased its holdings in shares of D-Wave Quantum by 34.6% during the third quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $46,000 after acquiring an additional 482 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its position in D-Wave Quantum by 5.3% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 9,901 shares of the company’s stock valued at $245,000 after purchasing an additional 500 shares during the period. Huntington National Bank raised its holdings in D-Wave Quantum by 17.9% during the third quarter. Huntington National Bank now owns 3,300 shares of the company’s stock worth $82,000 after buying an additional 500 shares during the last quarter. bLong Financial LLC lifted its stake in shares of D-Wave Quantum by 2.3% in the second quarter. bLong Financial LLC now owns 24,643 shares of the company’s stock valued at $361,000 after buying an additional 551 shares in the last quarter. Finally, Comerica Bank lifted its stake in shares of D-Wave Quantum by 1.8% in the third quarter. Comerica Bank now owns 36,443 shares of the company’s stock valued at $901,000 after buying an additional 643 shares in the last quarter. 42.47% of the stock is 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.