Vontobel Holding Ltd. Has $1.54 Million Stock Holdings in D-Wave Quantum Inc. $QBTS

Vontobel Holding Ltd. lessened its stake in D-Wave Quantum Inc. (NYSE:QBTS) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 105,350 shares of the company’s stock after selling 5,500 shares during the quarter. Vontobel Holding Ltd.’s holdings in D-Wave Quantum were worth $1,542,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in QBTS. Reyes Financial Architecture Inc. acquired a new position in D-Wave Quantum in the 2nd quarter valued at approximately $29,000. Parallel Advisors LLC raised its holdings in shares of D-Wave Quantum by 227.3% during the 2nd quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock valued at $32,000 after purchasing an additional 1,532 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of D-Wave Quantum by 133.9% during the 1st quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock valued at $42,000 after purchasing an additional 3,165 shares in the last quarter. Signaturefd LLC raised its holdings in shares of D-Wave Quantum by 106.1% during the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock valued at $44,000 after purchasing an additional 2,971 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in shares of D-Wave Quantum by 107.8% during the 1st quarter. Amalgamated Bank now owns 6,296 shares of the company’s stock valued at $48,000 after purchasing an additional 3,266 shares in the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on QBTS. Weiss Ratings restated a “sell (d-)” rating on shares of D-Wave Quantum in a report on Saturday, September 27th. Piper Sandler raised their price target on shares of D-Wave Quantum from $13.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Zacks Research downgraded shares of D-Wave Quantum from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Canaccord Genuity Group began coverage on shares of D-Wave Quantum in a report on Wednesday, July 23rd. They set a “buy” rating and a $20.00 price target on the stock. Finally, Stifel Nicolaus started coverage on shares of D-Wave Quantum in a report on Tuesday, August 5th. They issued a “buy” rating and a $26.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.27.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, CFO John M. Markovich sold 100,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $18.00, for a total value of $1,800,000.00. Following the transaction, the chief financial officer directly owned 1,558,753 shares in the company, valued at $28,057,554. The trade was a 6.03% 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 Rohit Ghai sold 10,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $179,300.00. Following the completion of the transaction, the director owned 47,778 shares in the company, valued at approximately $856,659.54. This trade represents a 17.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,000 shares of company stock worth $2,937,740 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

D-Wave Quantum Price Performance

Shares of D-Wave Quantum stock opened at $33.04 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. The firm’s 50-day simple moving average is $20.91 and its 200-day simple moving average is $15.73. D-Wave Quantum Inc. has a twelve month low of $0.88 and a twelve month high of $39.55. The firm has a market cap of $11.30 billion, a P/E ratio of -31.47 and a beta of 1.49.

D-Wave Quantum (NYSE:QBTS) last issued its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The business had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.55 million. The company’s quarterly revenue was up 40.9% on a year-over-year basis. As a group, research analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

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.