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Shares of D-Wave Quantum Inc. (NYSE: QBTS) moved lower during mid-day trading on Wednesday, slipping 4.7%following the disclosure of recent insider stock sales by senior executives. The decline drew investor attention as trading activity slowed sharply compared with recent averages, even as analyst sentiment toward the company remained largely positive.
During mid-day trading, D-Wave Quantum shares fell to a low of $26.94 before last changing hands at $27.7450. Trading volume totaled approximately 23.47 million shares, representing a 61% decrease from the company’s average daily volume of over 60 million shares. The stock had closed the previous session at $29.12, highlighting the day’s downward movement.
Insider Transactions Disclosed
The market reaction followed the public disclosure of insider selling activity involving two of the company’s top executives. According to filings with the U.S. Securities and Exchange Commission (SEC), Chief Financial Officer John M. Markovich sold 100,000 shares of D-Wave Quantum stock in a transaction dated Monday, December 22.
The shares were sold at an average price of $30.03, resulting in a total transaction value of $3,003,000. Following the completion of the sale, Markovich retained ownership of 1,471,312 shares, which were valued at approximately $44.18 million based on the reported pricing. The filing indicates that the transaction represented a 6.36% reduction in the CFO’s total holdings.
The SEC filing confirms that details of the transaction are publicly accessible through the commission’s official database.
In a separate filing, Chief Executive Officer Alan E. Baratz also reported a significant sale of company stock on the same date. Baratz sold 793,712 shares at an average price of $30.13, for a total transaction value of $23,914,542.56.
Following this sale, the CEO directly owned 2,633,163 shares of D-Wave Quantum, valued at approximately $79.34 million. The disclosure notes that the transaction accounted for a 23.16% decrease in Baratz’s overall position in the company. Additional documentation related to the sale is available through official SEC disclosures.
Market Context and Trading Reaction
Insider sales do not necessarily indicate changes in a company’s fundamentals, as such transactions can occur for a variety of personal or financial planning reasons. However, large or closely timed sales by senior executives often draw scrutiny from market participants, particularly during periods of elevated stock performance or heightened volatility.
In this case, the trading session reflected both a price decline and reduced volume, suggesting a cautious response from investors digesting the new information. Despite the pullback, the stock remained well above levels seen earlier in the year, underscoring the broader context of strong prior performance.
Analyst Price Targets and Coverage Updates
While insider activity captured near-term attention, analyst coverage of D-Wave Quantum has continued to reflect optimism about the company’s outlook. Several research firms have issued updated price targets and maintained positive ratings in recent weeks.
Rosenblatt Securities increased its price objective on the stock from $30.00 to $40.00, assigning a “buy” rating in a research note dated November 7. Jefferies Financial Group initiated coverage on December 16, setting a “buy” rating and establishing a $45.00 target price.
Canaccord Genuity Group also raised its target, increasing it from $20.00 to $41.00, while maintaining a “buy” rating. Cantor Fitzgerald adjusted its price target upward from $20.00 to $40.00 and assigned an “overweight” rating. Roth Capital likewise set a $40.00 price objective in its recent analysis.
According to data compiled by MarketBeat, fourteen analysts currently rate D-Wave Quantum shares as Buy, one analyst has issued a Hold rating, and one analyst maintains a Sell rating. The company holds a consensus analyst rating of “Moderate Buy”, with an average target price of $33.67.
As D-Wave Quantum continues to attract attention within the quantum computing sector, market participants are closely monitoring both corporate disclosures and broader industry developments. While insider transactions and short-term price movements can influence sentiment, longer-term evaluations often focus on operational progress, strategic execution, and technological advancements.
