Rhumbline Advisers Has $11.25 Million Position in D-Wave Quantum Inc. $QBTS

Rhumbline Advisers raised its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 455,108 shares of the company’s stock after acquiring an additional 36,625 shares during the quarter. Rhumbline Advisers owned about 0.13% of D-Wave Quantum worth $11,246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in QBTS. Stratos Wealth Partners LTD. acquired a new position in shares of D-Wave Quantum in the 3rd quarter valued at $534,000. Wealthfront Advisers LLC lifted its stake in D-Wave Quantum by 110.1% in the third quarter. Wealthfront Advisers LLC now owns 29,347 shares of the company’s stock valued at $725,000 after buying an additional 15,378 shares during the period. Navellier & Associates Inc. lifted its stake in D-Wave Quantum by 62.9% in the third quarter. Navellier & Associates Inc. now owns 50,788 shares of the company’s stock valued at $1,255,000 after buying an additional 19,615 shares during the period. bLong Financial LLC boosted its holdings in D-Wave Quantum by 15.6% during the third quarter. bLong Financial LLC now owns 28,493 shares of the company’s stock worth $704,000 after buying an additional 3,850 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in shares of D-Wave Quantum by 4.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 84,367 shares of the company’s stock worth $2,085,000 after buying an additional 3,932 shares during the period. Institutional investors own 42.47% of the company’s stock.

Analysts Set New Price Targets

QBTS has been the topic of a number of analyst reports. Wedbush began coverage on shares of D-Wave Quantum in a research report on Wednesday, December 17th. They issued an “outperform” rating and a $35.00 price target on the stock. Cantor Fitzgerald increased their target price on shares of D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Monday, December 29th. Wall Street Zen cut shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, Zacks Research raised D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.21.

Insider Transactions at D-Wave Quantum

In other news, CFO John M. Markovich sold 100,000 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $30.03, for a total transaction of $3,003,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,471,312 shares of the company’s stock, valued at $44,183,499.36. This represents a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kirstjen Nielsen sold 7,000 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $22.62, for a total value of $158,340.00. Following the transaction, the director owned 112,673 shares of the company’s stock, valued at approximately $2,548,663.26. The trade was a 5.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,074,466 shares of company stock worth $31,558,806. Company insiders own 3.20% of the company’s stock.

D-Wave Quantum Stock Up 1.7%

D-Wave Quantum stock opened at $19.39 on Friday. The company has a 50 day moving average of $24.99 and a 200-day moving average of $24.84. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a twelve month low of $4.45 and a twelve month high of $46.75. The stock has a market capitalization of $7.17 billion, a PE ratio of -14.36 and a beta of 1.56.

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.