Wolverine Asset Management LLC Purchases 57,647 Shares of D-Wave Quantum Inc. (NYSE:QBTS)

Wolverine Asset Management LLC grew its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 1,252.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,251 shares of the company’s stock after purchasing an additional 57,647 shares during the quarter. Wolverine Asset Management LLC’s holdings in D-Wave Quantum were worth $523,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UNICOM Systems Inc. purchased a new stake in shares of D-Wave Quantum during the 4th quarter valued at approximately $20,258,000. Penserra Capital Management LLC raised its holdings in D-Wave Quantum by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock valued at $4,409,000 after acquiring an additional 839,942 shares during the period. Geode Capital Management LLC lifted its position in shares of D-Wave Quantum by 33.8% during the third quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock worth $2,513,000 after acquiring an additional 645,039 shares in the last quarter. Silverleafe Capital Partners LLC bought a new position in shares of D-Wave Quantum in the fourth quarter worth $820,000. Finally, Barclays PLC grew its position in shares of D-Wave Quantum by 298.3% in the third quarter. Barclays PLC now owns 120,029 shares of the company’s stock valued at $117,000 after purchasing an additional 89,894 shares in the last quarter. Institutional investors own 42.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on QBTS. Needham & Company LLC reissued a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a report on Friday, November 15th. Roth Mkm raised their price objective on shares of D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. B. Riley upped their target price on shares of D-Wave Quantum from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Craig Hallum raised their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Benchmark reaffirmed a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a report on Tuesday, January 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $6.71.

D-Wave Quantum Stock Down 1.7 %

QBTS opened at $7.27 on Monday. The business’s fifty day simple moving average is $6.82 and its 200 day simple moving average is $3.38. D-Wave Quantum Inc. has a 52 week low of $0.75 and a 52 week high of $11.41. The stock has a market cap of $1.96 billion, a PE ratio of -17.30 and a beta of 1.10.

Insider Transactions at D-Wave Quantum

In other D-Wave Quantum 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 value of $29,417.14. Following the transaction, the chief financial officer now directly owns 1,064,556 shares of the company’s stock, valued at $5,610,210.12. The trade was a 0.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $4.21, for a total value of $35,522,266.53. Following the sale, the insider now directly owns 1,000,000 shares of the company’s stock, valued at approximately $4,210,000. This trade represents a 89.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,152,665 shares of company stock worth $92,096,075. 7.22% of the stock is currently owned by corporate insiders.

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.