UNICOM Systems Inc. Purchases New Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

UNICOM Systems Inc. acquired a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,411,704 shares of the company’s stock, valued at approximately $20,258,000. D-Wave Quantum comprises 4.9% of UNICOM Systems Inc.’s investment portfolio, making the stock its 5th biggest holding.

A number of other institutional investors also recently made changes to their positions in QBTS. Stephens Inc. AR acquired a new stake in shares of D-Wave Quantum in the 4th quarter valued at about $494,000. AlphaStar Capital Management LLC acquired a new stake in D-Wave Quantum during the fourth quarter valued at approximately $225,000. Kingsview Wealth Management LLC acquired a new position in shares of D-Wave Quantum in the 4th quarter worth approximately $84,000. Spire Wealth Management bought a new stake in shares of D-Wave Quantum in the 4th quarter valued at approximately $90,000. Finally, Strategic Advocates LLC acquired a new stake in shares of D-Wave Quantum during the 4th quarter valued at approximately $148,000. 42.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of D-Wave Quantum 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 transaction, the insider now owns 1,000,000 shares of the company’s stock, valued at $4,210,000. The trade was a 89.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Alan E. Baratz sold 8,372 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $44,120.44. Following the sale, the chief executive officer now directly owns 2,342,208 shares of the company’s stock, 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. In the last three months, insiders have sold 20,152,665 shares of company stock worth $92,096,075. 7.22% of the stock is owned by corporate insiders.

D-Wave Quantum Stock Up 0.1 %

Shares of D-Wave Quantum stock opened at $5.82 on Tuesday. D-Wave Quantum Inc. has a 1-year low of $0.75 and a 1-year high of $11.41. The business’s fifty day moving average price is $6.34 and its two-hundred day moving average price is $3.00.

Analyst Ratings Changes

Several research firms have weighed in on QBTS. Needham & Company LLC reissued a “buy” rating and set a $2.25 target price on shares of D-Wave Quantum in a report on Friday, November 15th. Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of D-Wave Quantum in a research report on Tuesday, January 14th. Craig Hallum boosted their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Roth Mkm increased their target price on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, B. Riley boosted their price target on shares of D-Wave Quantum from $4.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $6.38.

D-Wave Quantum Company 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.