D-Wave Quantum Inc. $QBTS Stock Position Reduced by State of New Jersey Common Pension Fund D

06 May 2026, 06:01 by Amy Steele · The Cerbat Gem

State of New Jersey Common Pension Fund D cut its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS – Free Report) by 18.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 117,473 shares of the company’s stock after selling 26,150 shares during the period. State of New Jersey Common Pension Fund D’s holdings in D-Wave Quantum were worth $3,072,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in D-Wave Quantum by 41.2% during the third quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company’s stock valued at $950,220,000 after purchasing an additional 11,218,255 shares in the last quarter. UBS Group AG grew its position in D-Wave Quantum by 541.6% during the third quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock valued at $298,737,000 after purchasing an additional 10,205,427 shares in the last quarter. State Street Corp grew its position in D-Wave Quantum by 41.3% during the second quarter. State Street Corp now owns 6,648,395 shares of the company’s stock valued at $97,333,000 after purchasing an additional 1,941,762 shares in the last quarter. Clear Street Group Inc. purchased a new position in D-Wave Quantum during the third quarter valued at approximately $75,344,000. Finally, Northern Trust Corp grew its position in D-Wave Quantum by 17.1% during the third quarter. Northern Trust Corp now owns 2,792,035 shares of the company’s stock valued at $68,991,000 after purchasing an additional 407,727 shares in the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

Key D-Wave Quantum News

Here are the key news stories impacting D-Wave Quantum this week:

Positive Sentiment: Strong analyst sentiment: most Wall Street coverage is bullish (15 of 17 analysts remain Buys), and consensus expectations ahead of FQ1 are modest (about $4.14M revenue, GAAP EPS ≈ -$0.10), supporting investor confidence. Here’s What the Street Thinks About D-Wave Quantum (QBTS) Ahead of FQ1 2026 Earnings
Positive Sentiment: Customer-facing events to drive visibility and pipeline: D-Wave announced Qubits Europe 2026 (London, June 18) and is planning investor/user showcases — these events can accelerate sales, partnerships and real-world proof points. D-Wave Announces Qubits Europe 2026 Quantum Computing User Conference
Positive Sentiment: Broader AI/quantum ecosystem tailwinds: Nvidia’s new Ising AI models and other software advances are drawing investor attention to practical quantum workflows — this reframing can lift prospects for D-Wave’s annealing and emerging gate-model offerings. Is Nvidia’s New Quantum Push Quietly Reframing D-Wave Quantum’s (QBTS) Path to Commercial Scale?
Neutral Sentiment: Upcoming FQ1 earnings create a near-term catalyst and risk — expectations are modest but the market will react to revenue/guide and any update on customer traction. Here’s What the Street Thinks About D-Wave Quantum (QBTS) Ahead of FQ1 2026 Earnings
Neutral Sentiment: Corporate governance/retention move: the company amended CEO compensation to support growth; this may aid continuity but could concern some investors about dilution/costs. D-Wave Quantum Enhances CEO Compensation to Support Growth
Negative Sentiment: Execution risk from recent results: last reported quarter missed consensus (EPS and revenue), so the company must show improved near-term revenue and margin trends to justify the rally. (Background: prior quarter EPS and revenue shortfalls weigh on expectations.)
Negative Sentiment: Competitive and valuation pressure: rival hardware players (e.g., IonQ) and differentiated technology milestones remain market drivers — analysts watching hardware fidelity and algorithmic qubit metrics could re-rate peers, adding downside if D‑Wave lags. How IONQ Stock Rises 10x To $500

D-Wave Quantum Price Performance

NYSE QBTS opened at $21.53 on Wednesday. The company has a quick ratio of 42.25, a current ratio of 42.38 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $7.96 billion, a PE ratio of -19.57 and a beta of 1.95. The company has a 50 day moving average price of $17.51 and a two-hundred day moving average price of $23.21. D-Wave Quantum Inc. has a 12-month low of $6.82 and a 12-month high of $46.75.

D-Wave Quantum (NYSE:QBTS – Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The business had revenue of $2.75 million during the quarter, compared to analyst estimates of $3.74 million. D-Wave Quantum had a negative net margin of 1,444.10% and a negative return on equity of 58.58%. The company’s revenue was up 21.7% compared to the same quarter last year. As a group, equities analysts predict that D-Wave Quantum Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at D-Wave Quantum

In other news, Director John D. Dilullo sold 8,000 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $18.01, for a total value of $144,080.00. Following the completion of the sale, the director directly owned 19,803 shares in the company, valued at approximately $356,652.03. The trade was a 28.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rohit Ghai sold 10,000 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $17.62, for a total transaction of $176,200.00. Following the completion of the sale, the director owned 27,778 shares of the company’s stock, valued at $489,448.36. The trade was a 26.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 31,776 shares of company stock valued at $574,571 over the last three months. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

QBTS has been the topic of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $43.00 price objective on shares of D-Wave Quantum in a research report on Wednesday, January 28th. TD Cowen began coverage on shares of D-Wave Quantum in a research report on Thursday, February 12th. They set a “buy” rating on the stock. Benchmark reiterated a “buy” rating and issued a $35.00 target price on shares of D-Wave Quantum in a research note on Friday, January 23rd. Roth Mkm reduced their target price on shares of D-Wave Quantum from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Finally, Zacks Research upgraded shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.53.

Read Our Latest Stock Report on D-Wave Quantum

About D-Wave Quantum

(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.