Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 34,834 shares of the company’s stock, valued at approximately $503,000.
Other institutional investors have also bought and sold shares of the company. Baird Financial Group Inc. increased its holdings in shares of D-Wave Quantum by 12.0% in the 1st quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock worth $92,000 after buying an additional 1,300 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of D-Wave Quantum by 59.8% in the 1st quarter. Royal Bank of Canada now owns 162,088 shares of the company’s stock valued at $1,231,000 after acquiring an additional 60,668 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of D-Wave Quantum by 201.0% in the 1st quarter. AQR Capital Management LLC now owns 200,765 shares of the company’s stock valued at $1,526,000 after acquiring an additional 134,066 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in D-Wave Quantum by 93.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company’s stock worth $825,000 after acquiring an additional 52,437 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in D-Wave Quantum by 125.7% in the first quarter. NewEdge Advisors LLC now owns 43,786 shares of the company’s stock worth $333,000 after acquiring an additional 24,382 shares in the last quarter. Institutional investors own 42.47% of the company’s stock.
Insiders Place Their Bets
In other news, VP Sophie C. Ames sold 23,025 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $18.98, for a total transaction of $437,014.50. Following the transaction, the vice president owned 596,803 shares in the company, valued at approximately $11,327,320.94. This trade represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rohit Ghai sold 13,518 shares of D-Wave Quantum stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $26.41, for a total value of $357,010.38. Following the completion of the sale, the director owned 23,617 shares of the company’s stock, valued at $623,724.97. The trade was a 36.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,363,842 shares of company stock worth $35,802,656. 1.30% of the stock is owned by company insiders.
D-Wave Quantum Stock Performance
D-Wave Quantum (NYSE:QBTS – Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $2.86 million during the quarter, compared to analyst estimates of $4.19 million. D-Wave Quantum had a negative return on equity of 44.06% and a negative net margin of 2,957.23%.D-Wave Quantum’s quarterly revenue was down 80.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.02) earnings per share. As a group, equities analysts predict that D-Wave Quantum Inc. will post -0.43 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on QBTS shares. Rosenblatt Securities restated a “buy” rating and set a $43.00 price objective on shares of D-Wave Quantum in a research report on Thursday, June 11th. Jefferies Financial Group reiterated a “buy” rating on shares of D-Wave Quantum in a report on Tuesday, May 12th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of D-Wave Quantum in a research report on Tuesday, June 2nd. Canaccord Genuity Group decreased their price target on D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, Stifel Nicolaus set a $35.00 price target on D-Wave Quantum in a research report on Tuesday, June 2nd. Fourteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.
Check Out Our Latest Stock Report on QBTS
Key D-Wave Quantum News
Here are the key news stories impacting D-Wave Quantum this week:
- Positive Sentiment: D-Wave announced it was selected to receive a $1.57 million grant from the U.S. National Science Foundation to support the Yale University-led ERASE initiative, which is aimed at advancing fault-tolerant quantum computing and D-Wave’s dual-rail technology. D-Wave Secures NSF Grant for Yale University-Led ERASE Initiative
- Positive Sentiment: The NSF award adds to D-Wave’s recent string of federal backing, reinforcing the view that the company is gaining credibility with U.S. research and policy institutions as quantum computing becomes a strategic priority. D-Wave Quantum Is Winning Over Washington, and Investors Should Take Notice
- Neutral Sentiment: Several articles continued debating whether quantum-computing stocks are overextended, highlighting that the sector still has thin revenue, negative margins, and long timelines before commercialization meaningfully scales. The Quantum Bubble Is Real Enough to Take Seriously
- Neutral Sentiment: Commentary also noted that the broader quantum-computing industry remains a long-duration bet with significant cash burn risk, which may keep volatility elevated for QBTS. Quantum Computing’s Cash Crisis: Which Players Can Actually Survive the Long Game?
- Negative Sentiment: Investor concern remains that, despite the funding news, D-Wave still operates in a sector where commercial revenue is limited and valuations can swing sharply on sentiment rather than fundamentals. D-Wave Secures NSF Grant for Yale University-Led ERASE Initiative
D-Wave Quantum Company Profile
D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.
The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.
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