Jupiter Topco LLC Buys Shares of 159,973 D-Wave Quantum Inc. $QBTS

Jupiter Topco LLC purchased a new stake in D-Wave Quantum Inc. (NASDAQ:QBTS) during the second quarter, Holdings Channel.com reports. The firm purchased 159,973 shares of the company’s stock, valued at approximately $3,836,000.

Several other large investors have also recently made changes to their positions in the stock. Baird Financial Group Inc. lifted its stake in shares of D-Wave Quantum by 12.0% during the 1st quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock worth $92,000 after purchasing an additional 1,300 shares during the last quarter. Royal Bank of Canada grew its stake in D-Wave Quantum by 59.8% in the first quarter. Royal Bank of Canada now owns 162,088 shares of the company’s stock valued at $1,231,000 after purchasing an additional 60,668 shares during the last quarter. AQR Capital Management LLC grew its stake in D-Wave Quantum by 201.0% in the first quarter. AQR Capital Management LLC now owns 200,765 shares of the company’s stock valued at $1,526,000 after purchasing an additional 134,066 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in D-Wave Quantum by 93.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company’s stock worth $825,000 after purchasing an additional 52,437 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in D-Wave Quantum by 125.7% in the first quarter. NewEdge Advisors LLC now owns 43,786 shares of the company’s stock worth $333,000 after purchasing an additional 24,382 shares in the last quarter. 42.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on QBTS. Rosenblatt Securities restated a “buy” rating and issued a $43.00 price target on shares of D-Wave Quantum in a report on Friday, August 7th. Mizuho increased their target price on shares of D-Wave Quantum from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Jefferies Financial Group set a $40.00 target price on shares of D-Wave Quantum in a research note on Friday, August 7th. B. Riley Financial lifted their price target on shares of D-Wave Quantum from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Zacks Research downgraded D-Wave Quantum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.27.

D-Wave Quantum Price Performance

NASDAQ QBTS opened at $16.54 on Wednesday. The company has a market cap of $6.12 billion, a price-to-earnings ratio of -23.30 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 stock’s fifty day moving average price is $19.67 and its 200 day moving average price is $20.11. 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 issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The firm had revenue of $3.08 million for the quarter, compared to analyst estimates 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 was down 0.6 compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) EPS. As a group, equities research analysts forecast that D-Wave Quantum Inc. will post -0.46 earnings per share for the current year.

Insider Transactions at D-Wave Quantum

In related news, VP Sophie C. Ames sold 3,070 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $16.95, for a total value of $52,036.50. Following the sale, the vice president owned 589,009 shares in the company, valued at $9,983,702.55. This represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alan E. Baratz sold 687,627 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $26.13, for a total transaction of $17,967,693.51. Following the completion of the transaction, the chief executive officer owned 3,299,771 shares in the company, valued at approximately $86,223,016.23. This trade represents a 17.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,009,157 shares of company stock valued at $26,155,555. 1.30% of the stock is owned by company insiders.

About D-Wave Quantum

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.