Simplicity Wealth LLC Makes New $1.06 Million Investment in D-Wave Quantum Inc. $QBTS

Simplicity Wealth LLC purchased a new position in D-Wave Quantum Inc. (NASDAQ:QBTS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 44,119 shares of the company’s stock, valued at approximately $1,058,000.

A number of other hedge funds also recently bought and sold shares of QBTS. Root Financial Partners LLC lifted its position in shares of D-Wave Quantum by 388.0% during the 4th quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock valued at $26,000 after buying an additional 776 shares in the last quarter. Parallel Advisors LLC grew its stake in D-Wave Quantum by 545.5% in the 1st quarter. Parallel Advisors LLC now owns 1,788 shares of the company’s stock valued at $26,000 after acquiring an additional 1,511 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in D-Wave Quantum in the 4th quarter worth $28,000. PeakShares LLC purchased a new stake in D-Wave Quantum in the 1st quarter worth $29,000. Finally, EverSource Wealth Advisors LLC raised its position in D-Wave Quantum by 267.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock worth $30,000 after acquiring an additional 838 shares during the period. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Analysts Set New Price Targets

QBTS has been the topic of a number of research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $43.00 price target on shares of D-Wave Quantum in a research note on Friday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of D-Wave Quantum in a report on Tuesday, June 2nd. Zacks Research upgraded D-Wave Quantum from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Weiss Ratings lowered D-Wave Quantum from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised D-Wave Quantum from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.36.

D-Wave Quantum Price Performance

Shares of NASDAQ QBTS opened at $21.17 on Monday. The company has a market capitalization of $7.83 billion, a P/E ratio of -29.82 and a beta of 2.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 20.55 and a quick ratio of 20.42. The company has a 50 day simple moving average of $21.04 and a 200-day simple moving average of $20.34. D-Wave Quantum Inc. has a 1 year low of $12.75 and a 1 year high of $46.75.

D-Wave Quantum (NASDAQ:QBTS) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The business had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $4.03 million. D-Wave Quantum had a negative return on equity of 26.67% and a negative net margin of 2,001.59%.The business’s revenue for the quarter was down 0.6 compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.08) earnings per share. On average, equities research analysts predict that D-Wave Quantum Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John D. Dilullo sold 7,850 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $24.43, for a total transaction of $191,775.50. Following the sale, the director directly owned 21,310 shares of the company’s stock, valued at $520,603.30. This represents a 26.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Markovich sold 328,752 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $27.70, for a total value of $9,106,430.40. Following the sale, the chief financial officer directly owned 1,442,820 shares in the company, valued at $39,966,114. This represents a 18.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,363,842 shares of company stock worth $35,789,148 over the last 90 days. 1.30% of the stock is owned by insiders.

D-Wave Quantum Profile

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.