Arete Wealth Advisors LLC Grows Stock Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

Arete Wealth Advisors LLC boosted its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 1,300.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 227,798 shares of the company’s stock after buying an additional 211,527 shares during the quarter. Arete Wealth Advisors LLC’s holdings in D-Wave Quantum were worth $1,913,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of QBTS. PNC Financial Services Group Inc. purchased a new position in shares of D-Wave Quantum in the 4th quarter valued at about $38,000. Heritage Wealth Advisors acquired a new position in D-Wave Quantum in the fourth quarter valued at approximately $67,000. Kingsview Wealth Management LLC purchased a new position in D-Wave Quantum in the fourth quarter valued at approximately $84,000. Spire Wealth Management acquired a new stake in D-Wave Quantum during the fourth quarter worth approximately $90,000. Finally, Prudential Financial Inc. purchased a new stake in shares of D-Wave Quantum during the 4th quarter worth approximately $95,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at D-Wave Quantum

In other news, CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $44,120.44. Following the sale, the chief executive officer now owns 2,342,208 shares of the company’s stock, valued at $12,343,436.16. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sector Pension Investme Public sold 2,778,564 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $6.14, for a total transaction of $17,060,382.96. Following the transaction, the insider now directly owns 37,278,688 shares of the company’s stock, valued at $228,891,144.32. This represents a 6.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,071,206 shares of company stock valued at $46,758,181. 7.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

QBTS has been the topic of several research analyst reports. Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of D-Wave Quantum in a research note on Friday, March 14th. Needham & Company LLC reiterated a “buy” rating and set a $8.50 target price on shares of D-Wave Quantum in a research report on Wednesday. Craig Hallum upped their target price on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. B. Riley lifted their price target on D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Finally, Roth Mkm boosted their price objective on D-Wave Quantum from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Six investment 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 price target of $8.42.

D-Wave Quantum Stock Down 2.4 %

Shares of QBTS stock opened at $7.16 on Friday. The stock’s 50-day moving average price is $6.74 and its 200 day moving average price is $4.61. The stock has a market capitalization of $2.09 billion, a PE ratio of -17.06 and a beta of 1.12. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $11.95.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Thursday, March 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). The firm had revenue of $2.31 million during the quarter, compared to analyst estimates of $2.23 million. Analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

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.