D-Wave Quantum Inc. (NYSE:QBTS) Major Shareholder Sector Pension Investme Public Sells 643,866 Shares

D-Wave Quantum Inc. (NYSE:QBTS) major shareholder Sector Pension Investme Public sold 643,866 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $4.87, for a total transaction of $3,135,627.42. Following the transaction, the insider now owns 18,730,193 shares of the company’s stock, valued at $91,216,039.91. This represents a 3.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Sector Pension Investme Public also recently made the following trade(s):

• On Thursday, December 12th, Sector Pension Investme Public sold 8,437,593 shares of D-Wave Quantum stock. The stock was sold at an average price of $4.21, for a total transaction of $35,522,266.53.

D-Wave Quantum Price Performance

Shares of NYSE:QBTS opened at $3.91 on Friday. The stock’s 50-day moving average is $1.91 and its 200 day moving average is $1.35. The company has a market cap of $875.88 million, a PE ratio of -9.31 and a beta of 1.79. D-Wave Quantum Inc. has a 1 year low of $0.68 and a 1 year high of $5.38.

Wall Street Analyst Weigh In

QBTS has been the topic of several recent analyst reports. B. Riley increased their target price on shares of D-Wave Quantum from $3.75 to $4.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.25 price target on shares of D-Wave Quantum in a report on Friday, November 15th. Finally, Roth Mkm lifted their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $3.71.

Institutional Trading of D-Wave Quantum

Several large investors have recently bought and sold shares of QBTS. Penserra Capital Management LLC raised its stake in D-Wave Quantum by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock valued at $4,409,000 after buying an additional 839,942 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of D-Wave Quantum by 33.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock worth $2,513,000 after purchasing an additional 645,039 shares in the last quarter. State Street Corp increased its stake in shares of D-Wave Quantum by 0.9% in the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company’s stock worth $1,986,000 after purchasing an additional 17,225 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of D-Wave Quantum by 17.9% in the 1st quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company’s stock worth $2,183,000 after purchasing an additional 162,688 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of D-Wave Quantum in the 2nd quarter worth $265,000. 42.47% of the stock is owned by institutional investors.

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.