D-Wave Quantum Inc.

NYSE:QBTS Stock Report

Market Cap: US$9.1b

D-Wave Quantum Ownership

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

Recent Insider Transactions

NYSE:QBTS Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
03 Dec 25SellUS$158,340Kirstjen NielsenIndividual7,000US$22.62
18 Nov 25BuyUS$1,795Steven WestIndividual82US$21.89
13 Nov 25SellUS$2,272,482John MarkovichIndividual98,060US$23.17
13 Nov 25SellUS$3,895,663Alan BaratzIndividual168,102US$23.17
13 Nov 25SellUS$64,958Diane NguyenIndividual2,803US$23.17
14 Oct 25SellUS$1,372,187Alan BaratzIndividual31,369US$43.74
14 Oct 25SellUS$349,685John MarkovichIndividual7,994US$43.74
14 Oct 25SellUS$911,044Diane NguyenIndividual20,827US$43.74
11 Sep 25SellUS$1,630,000John MarkovichIndividual100,000US$16.30
13 Aug 25SellUS$550,075Diane NguyenIndividual30,260US$18.54
13 Aug 25SellUS$2,603,540Steven WestIndividual144,000US$18.18
16 Jun 25SellUS$902,802John DiLulloIndividual57,000US$16.40
16 Jun 25SellUS$1,159,374Kirstjen NielsenIndividual71,644US$16.21
12 Jun 25SellUS$731,303Rohit GhaiIndividual43,517US$16.81
12 Jun 25SellUS$1,796,328Roger BiscayIndividual106,626US$16.85
22 May 25SellUS$1,983,707Roger BiscayIndividual112,196US$17.86
14 Jan 25SellUS$89,553,558Public Sector Pension Investment BoardCompany19,557,252US$6.14
14 Jan 25SellUS$585,316Public Sector Pension Investment BoardCompany115,306US$5.08
20 Dec 24SellUS$6,678,200Public Sector Pension Investment BoardCompany1,000,000US$6.68

Insider Trading Volume

Insider Buying: QBTS insiders have sold more shares than they have bought in the past 3 months.

Ownership Breakdown

What is the ownership structure of QBTS?
Owner TypeNumber of SharesOwnership Percentage
Private Companies3,121,3460.892%
Individual Insiders4,528,3011.29%
General Public151,073,44443.1%
Institutions191,398,71254.7%

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 41.7%.

Top Shareholders

Top 25 shareholders own 46.08% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
11%
The Vanguard Group, Inc.
38,454,869US$1.0b41.2%0.01%
7.48%
BlackRock, Inc.
26,201,142US$683.9m12.8%0.01%
3.9%
D. E. Shaw & Co., L.P.
13,648,352US$356.2m7.46%0.33%
3.63%
UBS Asset Management AG
12,724,195US$332.1m339%0.03%
2.15%
Geode Capital Management, LLC
7,528,321US$196.5m17.4%0.01%
2.09%
State Street Global Advisors, Inc.
7,321,276US$191.1m10.1%0.01%
1.74%
Morgan Stanley
6,102,275US$159.3m44.9%0.02%
1.54%
Public Sector Pension Investment Board
5,400,000US$140.9m0%0.48%
1.48%
Bank of America Corporation
5,187,023US$135.4m-64.5%0.04%
1.45%
Defiance ETFs, LLC
5,068,199US$132.3m0%10.87%
1.31%
T. Rowe Price Group, Inc.
4,580,769US$119.6m448%0.01%
0.89%
UNICOM Systems, Inc.
3,121,346US$81.5m12.1%8.45%
0.87%
Clear Street LLC
3,049,148US$79.6m504%0.44%
0.83%
Charles Schwab Investment Management, Inc.
2,904,711US$75.8m239%0.01%
0.8%
Northern Trust Global Investments
2,792,035US$72.9m17.1%0.01%
0.75%
Marex Group plc
2,626,156US$68.5m-52%1.05%
0.7%
Driehaus Capital Management LLC
2,443,818US$63.8m102%0.31%
0.64%
Renaissance Technologies LLC
2,253,542US$58.8m-40.6%0.08%
0.54%
Alan Baratz
1,898,076US$49.5m16%no data
0.48%
Penserra Capital Management LLC
1,677,356US$43.8m43.4%0.48%
0.39%
Hudson River Trading LLC
1,354,621US$35.4m386%0.17%
0.37%
FMR LLC
1,306,628US$34.1m1,010%no data
0.36%
Tudor Investment Corporation
1,247,528US$32.6m50.8%0.23%
0.35%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
1,236,166US$32.3m-8.8%0.01%
0.35%
JP Morgan Asset Management
1,215,939US$31.7m-9.43%no data

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/12/15 05:24
End of Day Share Price 2025/12/12 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 15 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David WilliamsBenchmark Company
Craig EllisB. Riley Securities, Inc.
William Kingsley CraneCanaccord Genuity