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Alan Baratz, the President and CEO of D-Wave Quantum (NASDAQ:QMCO) Inc. (NYSE:QBTS), recently sold 8,372 shares of the company's common stock. The transaction, dated January 23, 2025, was executed at an average price of $5.27 per share, amounting to a total sale value of $44,120. The sale comes amid significant stock momentum, with QBTS shares surging over 640% in the past year. According to InvestingPro data, the company now commands a market capitalization of $1.86 billion, with analyst price targets ranging from $2.50 to $9.00.
This sale was conducted to cover statutory tax withholding obligations related to the vesting of restricted stock units, as mandated by D-Wave's equity incentive plans. Following this transaction, Baratz retains ownership of 2,342,208 shares, which includes 843,750 shares of unvested restricted stock units. InvestingPro subscribers can access 12 additional key insights about QBTS, including detailed analysis of the company's volatility patterns and comprehensive financial health metrics.
In other recent news, D-Wave Quantum Inc. has been making significant strides in the quantum computing market. The company successfully completed a $150 million stock sale, bolstering its cash reserves to approximately $320 million. This capital will be utilized for working capital and capital expenditure to support D-Wave's ongoing technical development and business operations.
In addition to this, D-Wave announced the Leap Quantum LaunchPad program, aimed at accelerating the adoption of quantum computing applications in business and scientific research. The company also reported an impressive increase in bookings for fiscal year 2024, exceeding $23 million, a 120% rise from the previous year.
Analyst firms Benchmark and Craig-Hallum have maintained a Buy rating on D-Wave Quantum, with both firms raising their stock targets. This reflects the company's recent financial moves and its ongoing efforts to establish a strong presence in the quantum computing market.
These are the recent developments in D-Wave Quantum's journey, as it continues to forge ahead in the quantum computing sector.
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