D-Wave Quantum Inc. $QBTS Stock Holdings Raised by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in D-Wave Quantum Inc. (NASDAQ:QBTS) by 372.2% during the second quarter, HoldingsChannel.com reports. The firm owned 1,820,070 shares of the company’s stock after purchasing an additional 1,434,657 shares during the period. Wellington Management Group LLP’s holdings in D-Wave Quantum were worth $43,663,000 as of its most recent SEC filing.

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

Insider Activity

In related news, Director Rohit Ghai sold 13,518 shares of D-Wave Quantum stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $26.41, for a total value of $357,010.38. Following the sale, the director directly owned 23,617 shares in the company, valued at $623,724.97. This trade represents a 36.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alan Baratz sold 687,627 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $26.13, for a total transaction of $17,967,693.51. Following the transaction, the chief executive officer directly owned 3,299,771 shares of the company’s stock, valued at $86,223,016.23. The trade was a 17.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,001,307 shares of company stock worth $25,963,780 in the last 90 days. 1.30% of the stock is currently owned by insiders.

D-Wave Quantum Stock Up 2.0%

Shares of D-Wave Quantum stock opened at $16.82 on Friday. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of -23.69 and a beta of 2.15. D-Wave Quantum Inc. has a twelve month low of $12.75 and a twelve month high of $46.75. The company has a current ratio of 20.55, a quick ratio of 20.42 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $19.44 and its 200-day simple moving average is $20.08.

D-Wave Quantum (NASDAQ:QBTS) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). D-Wave Quantum had a negative return on equity of 26.67% and a negative net margin of 2,001.59%.The company had revenue of $3.08 million for the quarter, compared to the consensus estimate of $4.03 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. D-Wave Quantum’s quarterly revenue was down 0.6 compared to the same quarter last year. Equities research analysts forecast that D-Wave Quantum Inc. will post -0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 28th. Stifel Nicolaus set a $35.00 price objective on shares of D-Wave Quantum in a report on Tuesday, June 2nd. Jefferies Financial Group set a $40.00 target price on shares of D-Wave Quantum in a research note on Friday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 price target on shares of D-Wave Quantum in a research report on Wednesday, May 13th. Finally, Mizuho lifted their price target on shares of D-Wave Quantum from $29.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.27.

D-Wave Quantum Company 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.