Sector Pension Investme Public Sells 8,437,593 Shares of D-Wave Quantum Inc. (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS) major shareholder Sector Pension Investme Public sold 8,437,593 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $4.21, for a total transaction of $35,522,266.53. Following the sale, the insider now directly owns 1,000,000 shares in the company, valued at $4,210,000. This represents a 89.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Sector Pension Investme Public also recently made the following trade(s):

• On Tuesday, December 10th, Sector Pension Investme Public sold 643,866 shares of D-Wave Quantum stock. The stock was sold at an average price of $4.87, for a total value of $3,135,627.42.

D-Wave Quantum Stock Performance

NYSE:QBTS opened at $5.00 on Friday. The stock’s fifty day moving average price is $1.99 and its two-hundred day moving average price is $1.38. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -11.90 and a beta of 1.79. D-Wave Quantum Inc. has a 52-week low of $0.68 and a 52-week high of $5.38.

Hedge Funds Weigh In On D-Wave Quantum

Several large investors have recently made changes to their positions in the company. Baader Bank Aktiengesellschaft bought a new stake in D-Wave Quantum during the 2nd quarter worth about $28,000. SG Americas Securities LLC acquired a new stake in shares of D-Wave Quantum during the 3rd quarter worth approximately $42,000. Thoroughbred Financial Services LLC bought a new stake in shares of D-Wave Quantum during the second quarter worth approximately $45,000. Bogart Wealth LLC acquired a new position in D-Wave Quantum in the third quarter valued at approximately $49,000. Finally, Instrumental Wealth LLC boosted its stake in D-Wave Quantum by 85.9% in the second quarter. Instrumental Wealth LLC now owns 54,240 shares of the company’s stock valued at $62,000 after acquiring an additional 25,067 shares during the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on QBTS shares. Roth Mkm raised their price target on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a report on Thursday. B. Riley raised their target price on D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $2.25 price target on shares of D-Wave Quantum in a report on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $3.71.

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.