143,989 Shares in D-Wave Quantum Inc. $QBTS Bought by Trek Financial LLC

Trek Financial LLC purchased a new position in D-Wave Quantum Inc. (NYSE:QBTS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 143,989 shares of the company’s stock, valued at approximately $2,108,000.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of D-Wave Quantum by 698.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,949 shares of the company’s stock worth $760,000 after buying an additional 87,435 shares during the period. Mackenzie Financial Corp purchased a new position in D-Wave Quantum in the 1st quarter worth approximately $85,000. XTX Topco Ltd lifted its position in D-Wave Quantum by 3.4% in the first quarter. XTX Topco Ltd now owns 65,799 shares of the company’s stock valued at $500,000 after purchasing an additional 2,159 shares during the last quarter. Blair William & Co. IL lifted its position in D-Wave Quantum by 9.0% in the first quarter. Blair William & Co. IL now owns 30,438 shares of the company’s stock valued at $231,000 after purchasing an additional 2,503 shares during the last quarter. Finally, Thoroughbred Financial Services LLC boosted its stake in shares of D-Wave Quantum by 337.8% during the first quarter. Thoroughbred Financial Services LLC now owns 131,350 shares of the company’s stock valued at $998,000 after purchasing an additional 101,350 shares during the period. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

D-Wave Quantum Price Performance

QBTS opened at $25.09 on Thursday. The stock has a fifty day simple moving average of $29.55 and a two-hundred day simple moving average of $21.52. The company has a current ratio of 54.68, a quick ratio of 54.49 and a debt-to-equity ratio of 0.05. The company has a market cap of $8.79 billion, a price-to-earnings ratio of -18.59 and a beta of 1.57. D-Wave Quantum Inc. has a 12-month low of $2.88 and a 12-month high of $46.75.

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

Analysts Set New Price Targets

Several research analysts recently commented on QBTS shares. Roth Capital set a $40.00 target price on shares of D-Wave Quantum in a research note on Thursday, November 6th. Cantor Fitzgerald boosted their price objective on shares of D-Wave Quantum from $20.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Rosenblatt Securities upped their price objective on shares of D-Wave Quantum from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Evercore ISI began coverage on D-Wave Quantum in a research note on Wednesday. They issued an “outperform” rating and a $44.00 target price on the stock. Finally, Wall Street Zen upgraded D-Wave Quantum from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $29.85.

Insider Buying and Selling

In related news, Director John D. Dilullo sold 8,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.93, for a total value of $143,440.00. Following the transaction, the director owned 36,295 shares in the company, valued at $650,769.35. The trade was a 18.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alan E. Baratz sold 168,102 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $23.17, for a total transaction of $3,894,923.34. Following the sale, the chief executive officer directly owned 2,633,163 shares in the company, valued at $61,010,386.71. This trade represents a 6.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,379,813 shares of company stock valued at $36,891,986. 3.20% of the stock is owned by insiders.

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.