Northwestern Mutual Wealth Management Co. Purchases 3,192,533 Shares of D-Wave Quantum Inc. $QBTS

Northwestern Mutual Wealth Management Co. lifted its position in D-Wave Quantum Inc. (NYSE:QBTS) by 136,842.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,194,866 shares of the company’s stock after buying an additional 3,192,533 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in D-Wave Quantum were worth $83,546,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ancora Advisors LLC bought a new position in D-Wave Quantum during the third quarter worth $30,000. Kelleher Financial Advisors bought a new position in D-Wave Quantum during the third quarter worth $40,000. Valley National Advisers Inc. boosted its position in D-Wave Quantum by 222.2% during the fourth quarter. Valley National Advisers Inc. now owns 1,595 shares of the company’s stock worth $41,000 after purchasing an additional 1,100 shares during the period. Larson Financial Group LLC boosted its position in D-Wave Quantum by 1,754.0% during the third quarter. Larson Financial Group LLC now owns 1,854 shares of the company’s stock worth $46,000 after purchasing an additional 1,754 shares during the period. Finally, Newbridge Financial Services Group Inc. boosted its position in D-Wave Quantum by 133.3% during the third quarter. Newbridge Financial Services Group Inc. now owns 1,925 shares of the company’s stock worth $48,000 after purchasing an additional 1,100 shares during the period. 42.47% of the stock is owned by institutional investors.

D-Wave Quantum Price Performance

Shares of QBTS opened at $20.24 on Monday. D-Wave Quantum Inc. has a 12-month low of $11.32 and a 12-month high of $46.75. The business’s fifty day moving average is $18.05 and its 200 day moving average is $22.56. The company has a quick ratio of 21.31, a current ratio of 21.41 and a debt-to-equity ratio of 0.03. The stock has a market cap of $7.49 billion, a P/E ratio of -17.91 and a beta of 1.95.

D-Wave Quantum (NYSE:QBTS) last issued its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. D-Wave Quantum had a negative return on equity of 44.06% and a negative net margin of 2,957.23%.The company had revenue of $2.86 million for the quarter, compared to analysts’ expectations of $4.19 million. During the same period last year, the business earned ($0.02) EPS. D-Wave Quantum’s quarterly revenue was down 80.9% compared to the same quarter last year. Sell-side analysts anticipate that D-Wave Quantum Inc. will post -0.44 earnings per share for the current fiscal year.

Key D-Wave Quantum News

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: Several firms reiterated bullish views on QBTS, including Buy or Overweight ratings from Cantor Fitzgerald, Canaccord Genuity, Needham and Rosenblatt, signaling that analysts still see long-term upside. Article Title
• Positive Sentiment: The company’s Q1 update showed record bookings of $33.4 million, which suggests demand for its quantum systems and services remains strong even though revenue was lower than expected. Article Title
• Neutral Sentiment: Coverage this week highlighted D-Wave as a closely watched name in the quantum-computing trade, with investors debating whether recent weakness is a buying opportunity after the Q1 reaction. Article Title
• Negative Sentiment: QBTS is being hit by a sector-wide selloff in quantum stocks, which is overshadowing company-specific positives and dragging shares lower alongside peers. Article Title
• Negative Sentiment: Investors are still weighing weak top-line results from Q1, including revenue of $2.86 million, which keeps questions alive about near-term profitability and execution. Article Title

Insider Buying and Selling

In other D-Wave Quantum news, VP Sophie C. Ames sold 3,070 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $21.35, for a total transaction of $65,544.50. Following the transaction, the vice president directly owned 643,678 shares in the company, valued at approximately $13,742,525.30. This trade represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rohit Ghai sold 10,000 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $17.62, for a total value of $176,200.00. Following the transaction, the director owned 27,778 shares in the company, valued at approximately $489,448.36. This trade represents a 26.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,776 shares of company stock valued at $574,571 in the last 90 days. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

QBTS has been the subject of a number of research analyst reports. Mizuho reduced their price objective on shares of D-Wave Quantum from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Roth Mkm dropped their target price on D-Wave Quantum from $40.00 to $30.00 and set a “buy” rating for the company in a report on Friday, February 27th. Benchmark reissued a “buy” rating and set a $35.00 target price on shares of D-Wave Quantum in a report on Friday, January 23rd. Northland Securities initiated coverage on D-Wave Quantum in a report on Monday, April 20th. They set a “market perform” rating and a $22.00 target price for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $43.00 target price on shares of D-Wave Quantum in a report on Wednesday, May 13th. Fourteen 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.67.

About D-Wave Quantum

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.