D-Wave Quantum Inc. (NYSE:QBTS) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its position in D-Wave Quantum Inc. (NYSE:QBTS) by 17.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,070,337 shares of the company’s stock after purchasing an additional 162,688 shares during the quarter. Vanguard Group Inc. owned 0.66% of D-Wave Quantum worth $2,183,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. CIBC Private Wealth Group LLC raised its holdings in shares of D-Wave Quantum by 25.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,350,096 shares of the company’s stock worth $1,188,000 after purchasing an additional 270,096 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in shares of D-Wave Quantum in the 4th quarter worth about $76,000. Laidlaw Wealth Management LLC raised its holdings in shares of D-Wave Quantum by 143.3% in the 4th quarter. Laidlaw Wealth Management LLC now owns 35,224 shares of the company’s stock worth $31,000 after purchasing an additional 20,744 shares during the period. Finally, Delta Investment Management LLC purchased a new position in shares of D-Wave Quantum in the 1st quarter worth about $36,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Roth Mkm cut their price objective on D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Needham & Company LLC dropped their target price on D-Wave Quantum from $2.50 to $2.25 and set a “buy” rating on the stock in a report on Friday, August 9th. Benchmark dropped their target price on D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Monday, August 12th. B. Riley began coverage on D-Wave Quantum in a report on Thursday, July 25th. They set a “buy” rating and a $3.00 target price on the stock. Finally, Westpark Capital reiterated a “buy” rating and set a $3.00 target price on shares of D-Wave Quantum in a report on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $2.54.

Insider Transactions at D-Wave Quantum

In other news, Director Emil Michael sold 36,353 shares of D-Wave Quantum stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $1.30, for a total value of $47,258.90. Following the completion of the transaction, the director now owns 962,723 shares in the company, valued at approximately $1,251,539.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 7.22% of the company’s stock.

D-Wave Quantum Stock Performance

Shares of QBTS opened at $0.93 on Tuesday. The firm has a market cap of $158.63 million, a price-to-earnings ratio of -1.75 and a beta of 0.98. The stock has a 50 day moving average of $1.06 and a 200-day moving average of $1.41. D-Wave Quantum Inc. has a 52 week low of $0.57 and a 52 week high of $2.44.

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.