D-Wave Quantum Inc. $QBTS Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lessened its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 51.6% in the second quarter, Holdings Channel.com reports. The firm owned 3,431 shares of the company’s stock after selling 3,655 shares during the period. TD Waterhouse Canada Inc.’s holdings in D-Wave Quantum were worth $51,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Reyes Financial Architecture Inc. purchased a new position in shares of D-Wave Quantum during the 2nd quarter valued at approximately $29,000. Atlantic Union Bankshares Corp bought a new stake in shares of D-Wave Quantum in the second quarter worth $29,000. Parallel Advisors LLC raised its holdings in D-Wave Quantum by 227.3% in the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock valued at $32,000 after acquiring an additional 1,532 shares in the last quarter. Gables Capital Management Inc. bought a new position in D-Wave Quantum during the 2nd quarter valued at $37,000. Finally, Huntington National Bank acquired a new position in D-Wave Quantum during the 2nd quarter worth $41,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

D-Wave Quantum Price Performance

Shares of QBTS opened at $22.61 on Wednesday. The company has a market cap of $7.92 billion, a P/E ratio of -16.75 and a beta of 1.53. The stock has a fifty day moving average price of $29.90 and a 200 day moving average price of $21.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. D-Wave Quantum Inc. has a 12 month low of $2.50 and a 12 month high of $46.75.

D-Wave Quantum (NYSE:QBTS) last posted its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The company had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $3.03 million. D-Wave Quantum’s revenue was up 105.6% compared to the same quarter last year. On average, research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Activity

In other D-Wave Quantum news, CFO John M. Markovich sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $22.94, for a total value of $4,588,000.00. Following the sale, the chief financial officer owned 1,482,874 shares in the company, valued at approximately $34,017,129.56. This trade represents a 11.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John D. Dilullo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $17.93, for a total value of $143,440.00. Following the transaction, the director owned 36,295 shares of the company’s stock, valued at approximately $650,769.35. This represents a 18.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,379,813 shares of company stock valued at $36,891,986. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on QBTS. Canaccord Genuity Group upped their target price on shares of D-Wave Quantum from $20.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Benchmark upped their price objective on D-Wave Quantum from $20.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Wall Street Zen raised D-Wave Quantum from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Stifel Nicolaus assumed coverage on D-Wave Quantum in a report on Tuesday, August 5th. They issued a “buy” rating and a $26.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Thursday, November 20th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, D-Wave Quantum currently has a consensus rating of “Moderate Buy” and an average target price of $28.67.

D-Wave Quantum Profile

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.