D-Wave Quantum Inc. (NYSE:QBTS) Shares Sold by Laidlaw Wealth Management LLC

Laidlaw Wealth Management LLC trimmed its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,697 shares of the company’s stock after selling 4,773 shares during the quarter. Laidlaw Wealth Management LLC’s holdings in D-Wave Quantum were worth $384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kingsview Wealth Management LLC acquired a new position in D-Wave Quantum during the 4th quarter worth $84,000. Spire Wealth Management acquired a new position in D-Wave Quantum during the 4th quarter worth $90,000. Vontobel Holding Ltd. acquired a new position in D-Wave Quantum during the 4th quarter worth $105,000. Truist Financial Corp acquired a new position in D-Wave Quantum during the 4th quarter worth $108,000. Finally, Sonora Investment Management Group LLC acquired a new position in shares of D-Wave Quantum during the 4th quarter worth about $135,000. 42.47% of the stock is owned by institutional investors and hedge funds.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $6.02 on Wednesday. D-Wave Quantum Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $11.41. The stock has a 50-day simple moving average of $6.65 and a 200-day simple moving average of $3.25.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on QBTS shares. Benchmark reaffirmed a “buy” rating and set a $8.00 price objective on shares of D-Wave Quantum in a research report on Tuesday, January 14th. Craig Hallum upped their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a research report on Friday, November 15th. B. Riley upped their price objective on D-Wave Quantum from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Roth Mkm upped their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum has a consensus rating of “Buy” and an average price target of $6.71.

Insider Activity

In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $44,120.44. Following the completion of the sale, the chief executive officer now directly owns 2,342,208 shares of the company’s stock, valued at $12,343,436.16. This represents a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John M. Markovich sold 5,582 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $29,417.14. Following the sale, the chief financial officer now directly owns 1,064,556 shares of the company’s stock, valued at approximately $5,610,210.12. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,152,665 shares of company stock valued at $92,096,075. Insiders own 7.22% of the company’s stock.

D-Wave Quantum 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.