D-Wave Quantum: Insiders Sold $28 Million in Stock, but the Government and Analysts Are Bullish
12.06.2026 - 18:17:03 | boerse-global.de
The quantum computing sector is witnessing an unusual split over how to handle Washington’s cash. While Google parent Alphabet formally declined its share of a new federal quantum-funding programme on 10 June — citing the demand for a minority government stake — D-Wave Quantum has embraced the money alongside IBM and Rigetti. That decision has unlocked a $100 million letter of intent under the CHIPS and Science Act, announced by the US Commerce Department on 21 May, and has set the stage for a £884 million cash pile that the company says is the largest in its history.
Yet inside the firm, the same week brought heavy insider selling. CEO Alan Baratz unloaded $18 million worth of shares on 8 June at an average price of $26.13, while CFO John Markovich had sold over $10 million between 22 May and 8 June. Combined, the two officers reduced their holdings by nearly $28 million. Market watchers note that the disposals represented only a fraction of each executive’s total stake, but the timing — immediately after the government subsidy was unveiled — has raised eyebrows.
Wall Street, however, remains unfazed. Rosenblatt Securities reiterated its “Buy” rating on 12 June, with analyst John McPeake holding a $43 price target. Stifel has also chimed in with a $35 target, and the broader analyst consensus sits at “Strong Buy” with an average price objective of $37.73. The bullish view rests on D-Wave’s growing presence in artificial intelligence and blockchain applications, as well as reported progress in drug-simulation work and quantum-blockchain testnets.
Should investors sell immediately? Or is it worth buying D-Wave Quantum?
The government money underpins an ambitious hardware roadmap. D-Wave targets systems with 181 physical qubits by 2028 and a first machine with 10 logical qubits by 2030. At the end of the last quarter, the company’s order backlog stood at $42.4 million. Combined with the cash reserve — reported at over $884 million in February — the balance sheet gives the firm room to execute without near-term capital concerns.
The stock itself is caught between technical forces. Shares recently changed hands at €20.89, roughly 11.5% above the 50-day moving average of €18.74, while the 200-day line sits at €20.85 — a level the stock tested after closing at €20.56 on Thursday. The relative strength index reads 49, neutral territory. Year?to?date the equity is down about 13%, but over twelve months it has rallied 52%. That leaves it well below the October high of €38.48, but still within striking distance of the 200-day resistance.
Investors now have a near-term catalyst to watch. On 18 June, D-Wave hosts its Qubits Europe user conference in London. The timing is strategic: European governments are pouring money into quantum technology, and King Charles III recently underscored the importance of quantum computing. A strong showing in London could provide the momentum needed to push the stock above its 200?day line. Over the past month, the shares have already gained roughly 12%, partly on anticipation of the event.
For now, the signal from the executive suite and the signal from Washington point in opposite directions. Whether the backlog, the grant, and the analyst support can outweigh insider profit?taking will become clearer when the next quarterly report lands.
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