D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan E. Baratz Sells 845,813 Shares

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) CEO Alan E. Baratz sold 845,813 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $17.00, for a total value of $14,378,821.00. Following the completion of the transaction, the chief executive officer now owns 2,866,412 shares of the company's stock, valued at approximately $48,729,004. This trade represents a 22.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

D-Wave Quantum Stock Up 24.2%

• Quantum Quandary: Is D-Wave a Calculated Play or Leap of Faith?

Shares of NYSE QBTS traded up $3.71 during midday trading on Thursday, reaching $19.07. 240,821,781 shares of the stock were exchanged, compared to its average volume of 41,712,270. The firm has a 50-day simple moving average of $8.44 and a two-hundred day simple moving average of $6.41. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of -45.40 and a beta of 0.90. D-Wave Quantum Inc. has a twelve month low of $0.75 and a twelve month high of $19.67.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The business had revenue of $15.00 million during the quarter, compared to analyst estimates of $10.50 million. Research analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

• How Does D-Wave Stack Up Against Quantum Competitors?

A number of analysts recently commented on QBTS shares. Roth Mkm upped their price objective on D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Needham & Company LLC lifted their price target on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a "buy" rating in a report on Friday, May 9th. Benchmark lifted their price objective on shares of D-Wave Quantum from $8.00 to $14.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, B. Riley increased their price target on D-Wave Quantum from $11.00 to $12.00 and gave the company a "buy" rating in a report on Friday, March 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $10.17.

View Our Latest Research Report on QBTS

Institutional Inflows and Outflows

• MarketBeat Week in Review – 05/12 - 05/16

Several large investors have recently modified their holdings of QBTS. Fourth Dimension Wealth LLC purchased a new stake in shares of D-Wave Quantum in the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. acquired a new position in D-Wave Quantum in the fourth quarter valued at $38,000. Russell Investments Group Ltd. increased its position in D-Wave Quantum by 133.9% during the first quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company's stock worth $42,000 after purchasing an additional 3,165 shares during the last quarter. Signaturefd LLC increased its position in D-Wave Quantum by 106.1% during the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company's stock worth $44,000 after purchasing an additional 2,971 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of D-Wave Quantum by 107.8% in the first quarter. Amalgamated Bank now owns 6,296 shares of the company's stock worth $48,000 after buying an additional 3,266 shares during the period. Institutional investors and hedge funds own 42.47% of the company's stock.

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.

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