Insider Selling: D-Wave Quantum Inc. (NYSE:QBTS) Major Shareholder Sells 8,437,593 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) major shareholder Sector Pension Investme Public sold 8,437,593 shares of D-Wave Quantum stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $4.21, for a total transaction of $35,522,266.53. Following the sale, the insider now directly owns 1,000,000 shares in the company, valued at approximately $4,210,000. The trade was a 89.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

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

• On Tuesday, December 10th, Sector Pension Investme Public sold 643,866 shares of D-Wave Quantum stock. The shares were sold at an average price of $4.87, for a total transaction of $3,135,627.42.

D-Wave Quantum Stock Down 5.1 %

Shares of QBTS traded down $0.21 during mid-day trading on Thursday, hitting $3.91. The company had a trading volume of 58,864,227 shares, compared to its average volume of 7,874,894. The stock has a market cap of $875.88 million, a PE ratio of -10.74 and a beta of 1.79. The business's 50-day simple moving average is $1.85 and its 200-day simple moving average is $1.33. D-Wave Quantum Inc. has a 1-year low of $0.68 and a 1-year high of $5.38.

Institutional Investors Weigh In On D-Wave Quantum

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A number of hedge funds have recently bought and sold shares of QBTS. Barclays PLC grew its position in shares of D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company's stock valued at $117,000 after buying an additional 89,894 shares during the last quarter. Geode Capital Management LLC boosted its position in D-Wave Quantum by 33.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company's stock worth $2,513,000 after acquiring an additional 645,039 shares during the period. State Street Corp increased its stake in D-Wave Quantum by 0.9% during the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company's stock valued at $1,986,000 after buying an additional 17,225 shares during the period. Penserra Capital Management LLC boosted its stake in D-Wave Quantum by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company's stock valued at $4,409,000 after purchasing an additional 839,942 shares in the last quarter. Finally, Bogart Wealth LLC acquired a new position in D-Wave Quantum during the third quarter worth about $49,000. Institutional investors and hedge funds own 42.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QBTS. Roth Mkm raised their price target on D-Wave Quantum from $3.00 to $7.00 and gave the stock a "buy" rating in a research report on Thursday. B. Riley raised their target price on D-Wave Quantum from $3.75 to $4.50 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $2.25 price target on shares of D-Wave Quantum in a research note on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, D-Wave Quantum presently has an average rating of "Buy" and an average price target of $3.71.

View Our Latest Stock Analysis on QBTS

About D-Wave Quantum

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.

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