D-Wave Quantum Shares Show Mixed Signals as Institutions Accumulate and Insiders Offload

D-Wave Quantum US26740W1099

D-Wave Quantum’s stock advanced notably today, accompanied by brisk trading and substantial intraday swings. At the same time, large investors are expanding their stakes, while management is cashing in through sizable insider sales. Here’s how the dynamics stack up.

Big players are noticeably increasing their exposure to the quantum computing specialist.

• Current price: $28.15 (+7.5% intraday)
• Market capitalization: $9.85 billion
• Institutional ownership: 42.47%

Eagle Strategies LLC opened a new position by purchasing 44,475 shares, worth about $1.10 million. In the third quarter, McGuire Investment Group boosted its stake by 7.9%, bringing holdings to 395,778 shares and a value around $9.78 million.

Other prominent institutional holders include Marex, Arrowstreet, State Street, and Man Group. This uptick in demand comes as the stock trades clearly above the 50-day moving average of $27.16, helping to keep the technical setup supported.

Notable insider selling

On the flip side, executives have been unloading shares, creating a contrasting signal.

CEO Alan Baratz sold a total of 793,712 shares on December 22, 2025, generating roughly $23.9 million. Over the past 90 days, insider sales total 2.34 million shares, valued at about $66.1 million.

As a result, insider ownership has fallen to 3.20%. The selling comes after a strong rally in 2025 and provides a counterpoint to the rising institutional participation.

Market view and analyst assessment

Today’s volume ran to 48.41 million shares, well above the 37.73 million-share average, underscoring heightened liquidity as traders position themselves around the insider activity.

Analysts view the name as a “Moderate Buy” on balance. The average price target stands at $33.67, indicating roughly 20% upside from the current level. Price targets span from $35 to $45.

The last reported quarter showed revenue growth of 105.6% year over year, underscoring the company’s strong top-line momentum.

Key metrics at a glance

• Current price: $28.15
• Daily volume: 48.41 million shares (average: 37.73 million)
• Institutional ownership: 42.47%
• Insider sales (90 days): $66.1 million
• Average price target: $33.67

Technical posture and volatility

From a chart standpoint, the setup remains constructive. At $28.15, the shares sit comfortably above the 50-day line of $27.16 and well above the 200-day moving average of $19.32, signaling an ongoing uptrend.

Annualized volatility sits at 10.21%, signaling persistent and pronounced price swings. In the near term, the combination of elevated trading activity, ongoing institutional demand, and the recent wave of insider divestitures is likely to keep price action choppy.