TD Waterhouse Canada Inc. Trims Stock Holdings in D-Wave Quantum Inc. $QBTS

TD Waterhouse Canada Inc. lowered its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 51.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,431 shares of the company’s stock after selling 3,655 shares during the period. TD Waterhouse Canada Inc.’s holdings in D-Wave Quantum were worth $51,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in QBTS. Vanguard Group Inc. lifted its holdings in D-Wave Quantum by 58.5% in the 1st quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company’s stock valued at $85,766,000 after purchasing an additional 4,166,721 shares in the last quarter. Geode Capital Management LLC raised its position in shares of D-Wave Quantum by 41.6% in the second quarter. Geode Capital Management LLC now owns 6,411,558 shares of the company’s stock valued at $93,877,000 after buying an additional 1,883,109 shares during the last quarter. Northern Trust Corp lifted its stake in shares of D-Wave Quantum by 63.4% during the first quarter. Northern Trust Corp now owns 1,597,981 shares of the company’s stock valued at $12,145,000 after buying an additional 619,894 shares during the period. Trexquant Investment LP acquired a new stake in D-Wave Quantum during the first quarter worth approximately $8,064,000. Finally, SG Americas Securities LLC acquired a new stake in D-Wave Quantum during the second quarter worth approximately $14,349,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

Analysts Set New Price Targets

QBTS has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of D-Wave Quantum in a report on Thursday, November 20th. Piper Sandler upped their target price on D-Wave Quantum from $13.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Stifel Nicolaus began coverage on D-Wave Quantum in a research report on Tuesday, August 5th. They set a “buy” rating and a $26.00 target price on the stock. Canaccord Genuity Group lifted their price target on D-Wave Quantum from $20.00 to $41.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Wall Street Zen upgraded shares of D-Wave Quantum from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, D-Wave Quantum presently has an average rating of “Moderate Buy” and an average target price of $28.67.

Insider Buying and Selling at D-Wave Quantum

In related news, Director John D. Dilullo sold 8,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.93, for a total value of $143,440.00. Following the completion of the sale, the director directly owned 36,295 shares in the company, valued at approximately $650,769.35. This represents a 18.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John M. Markovich sold 200,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $22.94, for a total value of $4,588,000.00. Following the sale, the chief financial officer owned 1,482,874 shares in the company, valued at approximately $34,017,129.56. The trade was a 11.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,379,813 shares of company stock worth $36,891,986. Insiders own 3.20% of the company’s stock.

D-Wave Quantum Stock Performance

NYSE QBTS opened at $22.61 on Wednesday. The firm has a market capitalization of $7.92 billion, a P/E ratio of -16.75 and a beta of 1.53. D-Wave Quantum Inc. has a 1-year low of $2.50 and a 1-year high of $46.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. The business’s 50-day simple moving average is $29.90 and its 200-day simple moving average is $21.10.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. The firm had revenue of $3.74 million for the quarter, compared to analyst estimates of $3.03 million. The company’s revenue was up 105.6% compared to the same quarter last year. Equities analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current 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.