Leonteq Securities AG Has $1.19 Million Stock Position in D-Wave Quantum Inc. $QBTS

by · The Cerbat Gem

Leonteq Securities AG boosted its position in D-Wave Quantum Inc. (NYSE:QBTS – Free Report) by 159.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 82,558 shares of the company’s stock after acquiring an additional 50,769 shares during the period. Leonteq Securities AG’s holdings in D-Wave Quantum were worth $1,191,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS Group AG raised its position in shares of D-Wave Quantum by 541.6% during the third quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock worth $298,737,000 after purchasing an additional 10,205,427 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in D-Wave Quantum by 136,842.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,194,866 shares of the company’s stock valued at $83,546,000 after purchasing an additional 3,192,533 shares during the period. Clear Street Group Inc. bought a new stake in D-Wave Quantum during the 3rd quarter valued at $75,344,000. Goldman Sachs Group Inc. increased its stake in D-Wave Quantum by 311.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,548,013 shares of the company’s stock valued at $92,781,000 after purchasing an additional 2,685,980 shares in the last quarter. Finally, Marex Group plc raised its holdings in D-Wave Quantum by 74.9% during the fourth quarter. Marex Group plc now owns 4,592,656 shares of the company’s stock worth $120,098,000 after buying an additional 1,966,500 shares during the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

D-Wave Quantum Price Performance

QBTS opened at $22.52 on Friday. D-Wave Quantum Inc. has a 1 year low of $12.75 and a 1 year high of $46.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 21.41 and a quick ratio of 21.31. The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of -19.93 and a beta of 2.11. The firm’s fifty day moving average price is $23.66 and its two-hundred day moving average price is $22.13.

D-Wave Quantum (NYSE:QBTS – Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The company had revenue of $2.86 million during the quarter, compared to the consensus estimate of $4.19 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The firm’s revenue for the quarter was down 80.9% on a year-over-year basis. As a group, analysts anticipate that D-Wave Quantum Inc. will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other D-Wave Quantum news, Director John D. Dilullo sold 7,850 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $24.43, for a total value of $191,775.50. Following the completion of the sale, the director owned 21,310 shares in the company, valued at approximately $520,603.30. This trade represents a 26.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Sophie C. Ames sold 23,025 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $18.98, for a total value of $437,014.50. Following the completion of the transaction, the vice president owned 596,803 shares in the company, valued at $11,327,320.94. The trade was a 3.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,363,842 shares of company stock worth $35,802,656 in the last ninety days. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on QBTS. B. Riley Financial raised their price objective on shares of D-Wave Quantum from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 target price on shares of D-Wave Quantum in a report on Wednesday, May 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of D-Wave Quantum in a research report on Tuesday, May 12th. Mizuho lifted their price target on D-Wave Quantum from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Finally, 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 price objective for the company. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.80.

Check Out Our Latest Stock Analysis on D-Wave Quantum

D-Wave Quantum Profile

(Free Report)

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.

Further Reading

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