Rockefeller Capital Management L.P. Acquires Shares of 226,779 D-Wave Quantum Inc. (NYSE:QBTS)

Rockefeller Capital Management L.P. bought a new position in D-Wave Quantum Inc. (NYSE:QBTS) in the fourth quarter, HoldingsChannel reports. The fund bought 226,779 shares of the company’s stock, valued at approximately $1,905,000.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. acquired a new position in shares of D-Wave Quantum in the fourth quarter worth $38,000. Heritage Wealth Advisors acquired a new position in D-Wave Quantum in the 4th quarter worth about $67,000. Kingsview Wealth Management LLC purchased a new stake in shares of D-Wave Quantum during the 4th quarter worth about $84,000. Spire Wealth Management acquired a new stake in shares of D-Wave Quantum during the 4th quarter valued at about $90,000. Finally, Prudential Financial Inc. bought a new stake in shares of D-Wave Quantum in the 4th quarter valued at approximately $95,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

Insiders Place Their Bets

In other news, CFO John M. Markovich sold 5,582 shares of D-Wave Quantum stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $29,417.14. Following the sale, the chief financial officer now owns 1,064,556 shares of the company’s stock, valued at approximately $5,610,210.12. This trade represents a 0.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan E. Baratz sold 8,372 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $44,120.44. Following the sale, the chief executive officer now owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.22% of the company’s stock.

D-Wave Quantum Stock Performance

D-Wave Quantum stock opened at $6.39 on Monday. The business’s 50-day simple moving average is $6.98 and its 200-day simple moving average is $5.16. D-Wave Quantum Inc. has a 52 week low of $0.75 and a 52 week high of $11.95. The firm has a market capitalization of $1.86 billion, a PE ratio of -15.20 and a beta of 0.88.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). The firm had revenue of $2.31 million during the quarter, compared to the consensus estimate of $2.23 million. Research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $8.00 price objective on shares of D-Wave Quantum in a research report on Friday, March 14th. Roth Mkm lifted their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Needham & Company LLC reissued a “buy” rating and set a $8.50 target price on shares of D-Wave Quantum in a research report on Wednesday, April 2nd. Finally, B. Riley boosted their price target on D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum currently has a consensus rating of “Buy” and a consensus price target of $8.42.

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.