The Public Sector Pension Investment Board, a major owner (more than 10% stake) of D-Wave Quantum Inc. (QBTS), continues to offload shares, this time selling common stock worth $90.04 million. This is the first big Informative Sell transaction by the Public Sector Pension Investment Board this year and the third since December 12, 2024.
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The majority owner seems to be leveraging the current boom in quantum computing stocks, especially the 56.6% jump in QBTS share price from the closing price on November 29, 2024.
A corporate insider’s share sale usually signals caution about the company’s future potential. However, an insider might sell shares for other reasons, such as financial or personal obligations.
D-Wave Quantum designs and manufactures quantum computing hardware and solutions for cloud services, applications, and professional services.
A Closer Look at the Insider’s Transactions
As per Form 4 filed with the SEC on January 14, the Public Sector Pension Investment Board sold 19,672,558 QBTS shares between January 10 and 14. Shares were sold in multiple tranches at weighted average prices ranging between $3.9681 and $6.1449 apiece.
Following the latest share sale, the Public Sector Pension Investment Board still owns 20,384,694 QBTS common shares, worth $96.42 million at yesterday’s closing price.
QBTS stock currently has a Negative Insider Confidence Signal on TipRanks, based on Informative Sell transactions worth $175.4 million undertaken in the last three months.
It is important to keep an eye on the Informative trades of corporate insiders, given their knowledge of a company’s growth potential. Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is QBTS a Good Stock to Buy?
Analysts remain highly bullish about quantum computing stocks despite certain technical challenges and blurry commercialization timelines. With five unanimous Buys, QBTS stock commands a Strong Buy consensus rating on TipRanks. Also, the average D-Wave Quantum price target of $6.56 implies an impressive 38.7% upside potential from current levels. In the past year, QBTS shares have zoomed over 556%.
