D-Wave Quantum Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

DB:RQ0 Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
14 Jan 25	Sell€86,992,326	Public Sector Pension Investment Board	Company	19,557,252	€5.97
14 Jan 25	Sell€568,576	Public Sector Pension Investment Board	Company	115,306	€4.93
20 Dec 24	Sell€6,411,072	Public Sector Pension Investment Board	Company	1,000,000	€6.41
12 Dec 24	Sell€70,930,949	Public Sector Pension Investment Board	Company	17,501,884	€4.64
11 Dec 24	Sell€4,168,948	Public Sector Pension Investment Board	Company	872,175	€4.78
04 Jun 24	Sell€133,280	Emil Michael	Individual	111,938	€1.24

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of RQ0?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	3,668,961	1.26%
Institutions	59,434,343	20.4%
General Public	228,054,906	78.3%

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 82.1%.

Top Shareholders

Top 25 shareholders own 18.94% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
2.96%	BlackRock, Inc.	8,618,832	€50.0m	29.8%	no data
2.44%	The Vanguard Group, Inc.	7,118,322	€41.3m	104%	no data
1.85%	Public Sector Pension Investment Board	5,400,000	€31.3m	-86.5%	0.13%
1.49%	UBS Asset Management AG	4,332,107	€25.1m	7,420%	no data
1.06%	State Street Global Advisors, Inc.	3,085,359	€17.9m	52.7%	no data
1.02%	Geode Capital Management, LLC	2,974,395	€17.3m	16.4%	no data
0.97%	Penserra Capital Management LLC	2,814,458	€16.3m	-37.3%	0.29%
0.95%	Millennium Management LLC	2,753,530	€16.0m	0%	0.01%
0.87%	Bank of America Corporation, Asset Management Arm	2,545,499	€14.8m	5,110%	0.01%
0.83%	Unicom Systems, Inc, Investment Arm	2,411,704	€14.0m	0%	3.79%
0.61%	Susquehanna International Group, LLP, Asset Management Arm	1,784,029	€10.4m	247%	0.02%
0.58%	Broad Street Principal Investments, L.L.C.	1,685,147	€9.8m	0%	8.3%
0.51%	Alan Baratz	1,498,458	€8.7m	0.7%	no data
0.46%	Jane Street Group, LLC, Asset Management Arm	1,329,753	€7.7m	3,230%	0.01%
0.45%	Group One Trading LP, Asset Management Arm	1,316,405	€7.6m	1,440%	0.29%
0.36%	Morgan Stanley, Investment Banking and Brokerage Investments	1,046,451	€6.1m	268%	no data
0.34%	Northern Trust Global Investments	978,087	€5.7m	25.9%	no data
0.3%	Emil Michael	887,048	€5.1m	0%	no data
0.2%	John Markovich	583,306	€3.4m	1.2%	no data
0.15%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	429,905	€2.5m	16.3%	no data
0.13%	Neue Helvetische Bank, Asset Management Arm	374,600	€2.2m	0%	3.88%
0.11%	Charles Schwab Investment Management, Inc.	321,284	€1.9m	40%	no data
0.1%	CIBC Private Wealth Advisors, Inc.	300,100	€1.7m	-80%	no data
0.098%	Raymond James Financial Inc., Asset Management Arm	285,041	€1.7m	679%	no data
0.093%	Goldman Sachs Group, Investment Banking and Securities Investments	270,535	€1.6m	44.4%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/02/19 00:22
End of Day Share Price	2025/02/19 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

D-Wave Quantum Inc. is covered by 7 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
David Williams	Benchmark Company
Craig Ellis	B. Riley Securities, Inc.
Christian Schwab	Craig-Hallum Capital Group LLC