Patriot Financial Group Insurance Agency LLC Purchases New Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 58,100 shares of the company’s stock, valued at approximately $488,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QBTS. Penserra Capital Management LLC increased its stake in D-Wave Quantum by 23.0% during the third quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock valued at $4,409,000 after acquiring an additional 839,942 shares during the period. Geode Capital Management LLC grew its stake in shares of D-Wave Quantum by 33.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock valued at $2,513,000 after purchasing an additional 645,039 shares during the period. Marshall Wace LLP bought a new stake in shares of D-Wave Quantum in the 2nd quarter valued at approximately $265,000. Squarepoint Ops LLC bought a new stake in shares of D-Wave Quantum in the 2nd quarter valued at approximately $163,000. Finally, Silverleafe Capital Partners LLC bought a new stake in shares of D-Wave Quantum in the 4th quarter valued at approximately $820,000. 42.47% of the stock is currently owned by institutional investors.

D-Wave Quantum Price Performance

Shares of QBTS opened at $5.51 on Thursday. The business’s 50 day simple moving average is $5.82 and its 200-day simple moving average is $2.73. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $11.41. The company has a market capitalization of $1.48 billion, a P/E ratio of -13.11 and a beta of 1.16.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on QBTS shares. Roth Mkm upped their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Craig Hallum upped their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and issued a $2.25 target price on shares of D-Wave Quantum in a report on Friday, November 15th. Benchmark reissued a “buy” rating and issued a $8.00 target price on shares of D-Wave Quantum in a report on Tuesday, January 14th. Finally, B. Riley boosted their target price on D-Wave Quantum from $4.50 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $6.38.

Insiders Place Their Bets

In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $44,120.44. Following the transaction, the chief executive officer now owns 2,342,208 shares of the company’s stock, valued at approximately $12,343,436.16. This represents a 0.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the stock in a transaction 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 transaction, the insider now directly owns 1,000,000 shares in the company, valued at approximately $4,210,000. This trade represents a 89.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,152,665 shares of company stock valued at $92,096,075. 7.22% of the stock is currently owned by corporate insiders.

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.