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
Date	Value	Name	Entity	Shares	Max Price
20 Dec 24	SellUS$6,678,200	Public Sector Pension Investment Board	Company	1,000,000	US$6.68
12 Dec 24	SellUS$74,397,891	Public Sector Pension Investment Board	Company	17,501,884	US$4.87
11 Dec 24	SellUS$4,371,341	Public Sector Pension Investment Board	Company	872,175	US$5.01
04 Jun 24	SellUS$145,027	Emil Michael	Individual	111,938	US$1.35

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 QBTS?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	3,636,431	1.62%
Institutions	77,555,819	34.6%
General Public	142,822,579	63.8%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 40.1%.

Top Shareholders

Top 25 shareholders own 35.08% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
17.9%	Public Sector Pension Investment Board	40,057,252	US$336.5m	-32.6%	1.82%
4.21%	BDC Capital Inc.	9,424,713	US$79.2m	0%	97.17%
2.96%	BlackRock, Inc.	6,641,453	US$55.8m	6.88%	no data
2%	Penserra Capital Management LLC	4,485,777	US$37.7m	23%	0.78%
1.56%	The Vanguard Group, Inc.	3,493,915	US$29.3m	108%	no data
1.14%	Geode Capital Management, LLC	2,555,927	US$21.5m	33.8%	no data
0.9%	State Street Global Advisors, Inc.	2,020,977	US$17.0m	0.86%	no data
0.75%	Broad Street Principal Investments, L.L.C.	1,685,147	US$14.2m	0%	10.44%
0.67%	CIBC Private Wealth Advisors, Inc.	1,500,000	US$12.6m	15.4%	0.03%
0.66%	Alan Baratz	1,488,080	US$12.5m	57.3%	no data
0.4%	Emil Michael	887,048	US$7.5m	0%	no data
0.35%	Northern Trust Global Investments	776,996	US$6.5m	294%	no data
0.26%	John Markovich	576,388	US$4.8m	32.7%	no data
0.23%	Susquehanna International Group, LLP, Asset Management Arm	513,874	US$4.3m	127%	0.01%
0.17%	Neue Helvetische Bank, Asset Management Arm	374,600	US$3.1m	0%	6.61%
0.16%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	369,557	US$3.1m	-75.3%	no data
0.13%	Morgan Stanley, Investment Banking and Brokerage Investments	284,614	US$2.4m	124%	no data
0.13%	Bridgeway Capital Management, LLC	281,100	US$2.4m	-4.06%	0.04%
0.1%	Charles Schwab Investment Management, Inc.	229,563	US$1.9m	0%	no data
0.089%	Diane Nguyen	199,216	US$1.7m	21.6%	no data
0.084%	Goldman Sachs Group, Investment Banking and Securities Investments	187,306	US$1.6m	294%	no data
0.07%	BNY Asset Management	155,821	US$1.3m	-29.3%	no data
0.069%	Steven West	154,355	US$1.3m	0%	no data
0.054%	Barclays PLC Private Banking & Investment Banking Investment	120,029	US$1.0m	298%	no data
0.052%	AllianceBernstein L.P.	116,980	US$982.6k	84.3%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/02 22:40
End of Day Share Price	2025/01/02 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 here.

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 .

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