Transaction details
Diane Nguyen, who serves as Executive Vice President, Chief Legal Officer and General Counsel at D-Wave Quantum Inc. (NASDAQ: QBTS), completed a sale of 2,532 shares of the company’s common stock on March 13, 2026. The proceeds from the disposition amounted to approximately $44,633. The shares traded at prices ranging from $17.60 to $17.66 per share.
Post-transaction ownership and reason for the sale
Following the sale, Nguyen directly holds 563,674 shares of D-Wave Quantum Inc., a total that incorporates 223,381 restricted stock units that have not yet vested. The company indicates the disposition was undertaken to satisfy statutory tax withholding obligations associated with the vesting of those restricted stock units, consistent with the terms of the company’s equity incentive plans.
Recent financial results
In other company disclosures, D-Wave Systems Inc. released fourth-quarter 2025 financial results showing revenue of $2.75 million. While described as significant growth, this revenue figure missed analyst expectations of $3.72 million by 26.08 percent. The company reported earnings per share of -$0.09, which was below the projected -$0.06.
Analyst assessment and valuation note
Evercore ISI adjusted its price objective for shares of D-Wave Quantum Inc., reducing the target to $42 from $44 while retaining an Outperform rating. The firm’s revised target is based on a valuation equal to 33 times its 2035 earnings per share estimate of $3, discounted back nine years. Separately, InvestingPro analysis flagged QBTS as appearing overvalued at current levels and notes that a Pro Research Report with deeper analysis is available for QBTS and more than 1,400 other U.S. equities.
Market implications
These items - an insider sale conducted to meet tax obligations tied to vesting RSUs, quarterly results that missed consensus, and an analyst price-target reduction - together illustrate the mixture of company-specific and valuation concerns that market participants are weighing in assessing D-Wave Quantum Inc.
Note: The article reflects the company filings, reported results and analyst commentary as provided.