Wellington Management Group LLP Raises Holdings in D-Wave Quantum Inc. $QBTS

Wellington Management Group LLP raised its position in shares of D-Wave Quantum Inc. (NASDAQ:QBTS) by 372.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,820,070 shares of the company’s stock after acquiring an additional 1,434,657 shares during the period. Wellington Management Group LLP owned approximately 0.49% of D-Wave Quantum worth $43,663,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC lifted its stake in shares of D-Wave Quantum by 388.0% in the 4th quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock valued at $26,000 after purchasing an additional 776 shares in the last quarter. Fiduciary Financial Advisors acquired a new stake in D-Wave Quantum during the 2nd quarter worth approximately $25,000. Kemnay Advisory Services Inc. purchased a new position in D-Wave Quantum in the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its holdings in D-Wave Quantum by 267.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock valued at $30,000 after buying an additional 838 shares during the period. Finally, Mcguire Capital Advisors Inc. acquired a new position in D-Wave Quantum during the fourth quarter valued at approximately $31,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

D-Wave Quantum Trading Up 2.0%

NASDAQ QBTS opened at $16.82 on Friday. The company’s fifty day simple moving average is $19.44 and its 200-day simple moving average is $20.08. D-Wave Quantum Inc. has a 52 week low of $12.75 and a 52 week high of $46.75. The company has a current ratio of 20.55, a quick ratio of 20.42 and a debt-to-equity ratio of 0.03. The stock has a market cap of $6.22 billion, a P/E ratio of -23.69 and a beta of 2.15.

D-Wave Quantum (NASDAQ:QBTS) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). D-Wave Quantum had a negative net margin of 2,001.59% and a negative return on equity of 26.67%. The firm had revenue of $3.08 million for the quarter, compared to analyst estimates of $4.03 million. During the same period in the previous year, the business posted ($0.08) earnings per share. D-Wave Quantum’s revenue for the quarter was down 0.6 on a year-over-year basis. Equities research analysts predict that D-Wave Quantum Inc. will post -0.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on QBTS. Mizuho increased their price objective on shares of D-Wave Quantum from $29.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. BMO Capital Markets assumed coverage on shares of D-Wave Quantum in a report on Thursday, August 20th. They set an “outperform” rating and a $35.00 target price on the stock. B. Riley Financial upped their price target on shares of D-Wave Quantum from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 price target on shares of D-Wave Quantum in a report on Wednesday, May 13th. Finally, Wedbush started coverage on D-Wave Quantum in a research report on Monday, August 3rd. They issued an “outperform” rating and a $40.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.27.

Insiders Place Their Bets

In other news, VP Sophie Ames sold 3,070 shares of D-Wave Quantum stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $16.95, for a total transaction of $52,036.50. Following the sale, the vice president directly owned 589,009 shares of the company’s stock, valued at approximately $9,983,702.55. The trade was a 0.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rohit Ghai sold 13,518 shares of the 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 transaction, the director directly owned 23,617 shares of the company’s stock, valued at $623,724.97. This represents a 36.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,001,307 shares of company stock valued at $25,963,780 in the last three months. 1.30% of the stock is owned by insiders.

D-Wave Quantum 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.