Jacobi Capital Management LLC Acquires 13,000 Shares of D-Wave Quantum Inc. (NYSE:QBTS)

Jacobi Capital Management LLC boosted its position in D-Wave Quantum Inc. (NYSE:QBTS) by 107.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,100 shares of the company’s stock after acquiring an additional 13,000 shares during the period. Jacobi Capital Management LLC’s holdings in D-Wave Quantum were worth $211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new stake in D-Wave Quantum in the fourth quarter worth about $84,000. Spire Wealth Management acquired a new stake in D-Wave Quantum in the fourth quarter worth about $90,000. Vontobel Holding Ltd. acquired a new stake in D-Wave Quantum in the fourth quarter worth about $105,000. Truist Financial Corp bought a new position in D-Wave Quantum during the fourth quarter worth about $108,000. Finally, Sonora Investment Management Group LLC bought a new position in D-Wave Quantum during the fourth quarter worth about $135,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on QBTS shares. Roth Mkm raised their target price on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Benchmark restated a “buy” rating and set a $8.00 target price on shares of D-Wave Quantum in a report on Tuesday, January 14th. B. Riley raised their target price on D-Wave Quantum from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, February 14th. 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. Finally, Craig Hallum raised their target price on D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum presently has an average rating of “Buy” and a consensus price target of $6.71.

Insider Activity

In other D-Wave Quantum news, CFO John M. Markovich sold 5,582 shares of the business’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 value of $29,417.14. Following the sale, the chief financial officer now owns 1,064,556 shares in the company, valued at approximately $5,610,210.12. The trade was a 0.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $4.21, for a total value of $35,522,266.53. Following the completion of the sale, the insider now owns 1,000,000 shares in the company, valued at $4,210,000. The trade was a 89.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,152,665 shares of company stock worth $92,096,075 in the last 90 days. Corporate insiders own 7.22% of the company’s stock.

D-Wave Quantum Price Performance

NYSE:QBTS opened at $4.90 on Tuesday. 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 market capitalization of $1.32 billion, a PE ratio of -11.67 and a beta of 1.10. The business’s 50-day simple moving average is $6.59 and its 200-day simple moving average is $3.59.

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.