D-Wave Quantum Inc. (NYSE:QBTS) Major Shareholder Sector Pension Investme Public Sells 7,278,688 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) major shareholder Sector Pension Investme Public sold 7,278,688 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $4.07, for a total transaction of $29,624,260.16. Following the transaction, the insider now directly owns 30,000,000 shares of the company’s stock, valued at $122,100,000. The trade was a 19.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, January 10th, Sector Pension Investme Public sold 2,778,564 shares of D-Wave Quantum stock. The shares were sold at an average price of $6.14, for a total value of $17,060,382.96.
• On Friday, December 20th, Sector Pension Investme Public sold 1,000,000 shares of D-Wave Quantum stock. The stock was sold at an average price of $6.68, for a total transaction of $6,680,000.00.
• On Thursday, December 12th, Sector Pension Investme Public sold 8,437,593 shares of D-Wave Quantum stock. The shares were sold at an average price of $4.21, for a total transaction of $35,522,266.53.
• On Tuesday, December 10th, Sector Pension Investme Public sold 643,866 shares of D-Wave Quantum stock. The stock was sold at an average price of $4.87, for a total value of $3,135,627.42.

D-Wave Quantum Trading Up 24.0 %

NYSE QBTS opened at $4.75 on Wednesday. D-Wave Quantum Inc. has a 1 year low of $0.68 and a 1 year high of $11.41. The company has a market cap of $1.28 billion, a PE ratio of -11.31 and a beta of 1.16. The stock’s 50-day moving average price is $4.97 and its two-hundred day moving average price is $2.41.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on QBTS. Benchmark reissued a “buy” rating and issued a $8.00 price objective on shares of D-Wave Quantum in a research note on Tuesday. Craig Hallum upped their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. B. Riley lifted their price objective on shares of D-Wave Quantum from $4.50 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday. Roth Mkm increased their target price on shares of D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $2.25 target price on shares of D-Wave Quantum in a report on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to MarketBeat, D-Wave Quantum has a consensus rating of “Buy” and an average price target of $6.38.

Institutional Investors Weigh In On D-Wave Quantum

A number of large investors have recently made changes to their positions in the company. Penserra Capital Management LLC boosted its stake in D-Wave Quantum by 23.0% in the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock worth $4,409,000 after purchasing an additional 839,942 shares during the period. Geode Capital Management LLC lifted its holdings in shares of D-Wave Quantum by 33.8% in the third quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock valued at $2,513,000 after purchasing an additional 645,039 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of D-Wave Quantum in the second quarter worth $265,000. Bank of New York Mellon Corp acquired a new stake in shares of D-Wave Quantum in the second quarter worth $251,000. Finally, Squarepoint Ops LLC purchased a new position in shares of D-Wave Quantum during the second quarter valued at $163,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

D-Wave Quantum Company Profile

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.