Insider Selling: D-Wave Quantum (NYSE:QBTS) CFO Sells 9,179 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) CFO John Markovich sold 9,179 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $28.06, for a total value of $257,562.74. Following the completion of the sale, the chief financial officer owned 1,462,133 shares in the company, valued at $41,027,451.98. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

D-Wave Quantum Price Performance

Shares of NYSE:QBTS traded down $1.40 during midday trading on Thursday, reaching $28.75. The company’s stock had a trading volume of 43,498,854 shares, compared to its average volume of 40,024,453. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. The business’s fifty day simple moving average is $26.22 and its 200-day simple moving average is $23.89. D-Wave Quantum Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $46.75. The company has a market capitalization of $10.07 billion, a P/E ratio of -21.30 and a beta of 1.57.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The company had revenue of $3.74 million for the quarter, compared to the consensus estimate of $3.03 million. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. D-Wave Quantum’s revenue was up 105.6% on a year-over-year basis. As a group, equities research analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On D-Wave Quantum

A number of institutional investors have recently made changes to their positions in QBTS. Vanguard Group Inc. grew its holdings in D-Wave Quantum by 41.2% in the 3rd quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company’s stock valued at $950,220,000 after buying an additional 11,218,255 shares in the last quarter. UBS Group AG lifted its holdings in shares of D-Wave Quantum by 541.6% during the 3rd quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock worth $298,737,000 after acquiring an additional 10,205,427 shares during the period. State Street Corp boosted its holdings in shares of D-Wave Quantum by 41.3% in the 2nd quarter. State Street Corp now owns 6,648,395 shares of the company’s stock valued at $97,333,000 after purchasing an additional 1,941,762 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of D-Wave Quantum by 41.6% during the 2nd quarter. Geode Capital Management LLC now owns 6,411,558 shares of the company’s stock worth $93,877,000 after buying an additional 1,883,109 shares during the last quarter. Finally, Marex Group plc bought a new stake in shares of D-Wave Quantum during the 2nd quarter valued at approximately $80,070,000. Institutional investors own 42.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Williams Trading set a $35.00 price objective on D-Wave Quantum in a research note on Monday, November 10th. Mizuho started coverage on D-Wave Quantum in a research report on Thursday, December 11th. They issued an “outperform” rating and a $46.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of D-Wave Quantum in a report on Monday, December 29th. Zacks Research raised shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Benchmark boosted their price objective on shares of D-Wave Quantum from $20.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.67.

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.