The CFO's sale is likely tax/compensation-driven given the massive gain from a $0.92 exercise price, not a bearish signal. However, the cluster of two C-suite officers selling within 2 days, combined with cross-filing amplifiers pointing to potential offering or press context, suggests monitoring for a capital markets event (secondary offering or earnings) in the coming weeks. The 10b5-1 plan status is unknown — if these were pre-planned trades, the signal is even weaker.
Price Chart
Executive Summary
CFO Markovich and EVP Nguyen sold a combined $10.1M in open-market sales within two days, with the CFO's sale ($9.1M) following a same-day derivative exercise at $0.92. The CFO's sale represents ~0.09% of market cap, just below the 0.1% materiality threshold, but the cluster pattern and C-suite involvement warrant attention. The derivative exercise at $0.92 and sale at $27.70 captures a massive gain, suggesting tax/planning motives rather than a bearish signal, though the timing near a potential earnings or offering event (per cross-filing amplifiers) merits monitoring.
Key Financial Metrics
Key Facts
- CFO Markovich sold 328,752 shares at $27.70 for $9.11M on 2026-05-22, after exercising derivatives at $0.92 per share on the same day
- EVP Nguyen sold 40,000 shares at $25.01 for $1.00M on 2026-05-21
- Total open-market sales: $10.11M, representing ~0.099% of $10.2B market cap
- CFO's derivative exercise was non-cash (code M); the sale was open-market (code S)
- Cross-filing amplifiers (cluster-insider-trades + cluster-offering-context, cluster-insider-trades + cluster-press-context) suggest elevated predictive power for this cluster pattern
Financial Impact
Total insider sales of $10.11M, ~0.1% of market cap — below the 0.1% materiality threshold but near it
Risk Factors
- CFO sold 328K shares in a single day — large absolute size could indicate planned diversification, but may spook retail investors
- Cross-filing amplifiers flag elevated predictive power for this cluster pattern, suggesting non-random timing
- Historical performance on QBTS reports shows poor win rate (29% T+20) and negative average alpha (-6.27%), indicating the stock often moves against the model's prior calls
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-QBTS-1779917504221 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | 8-K | $16.41 $17.11 | ▲ +4.27% | ▲ +3.45% | $16.34 (−0.40%) |
Sep 8, 2026 24d ago | 8-K | $17.67 $16.83 | ▼ −4.75% | ▼ −4.09% | $16.34 (−7.50%) |
Aug 25, 2026 5w ago | 8-K | $17.51 $16.49 | ▼ −5.83% | ▼ −5.71% | $16.34 (−6.65%) |
Aug 18, 2026 6w ago | 8-K | $19.53 $19.35 | ▼ −0.92% | ▼ −0.72% | $16.34 (−16.31%) |
Aug 17, 2026 6w ago | 8-K | $20.87 $18.68 | ▼ −10.49% | ▼ −9.30% | $16.34 (−21.68%) |
Aug 6, 2026 8w ago | 8-K | $19.41 $20.90 | ▲ +7.70% | ▲ +6.49% | $16.34 (−15.77%) |
Aug 3, 2026 8w ago | 8-K | $19.98 $16.21 | ▼ −18.87% | ▼ −20.90% | $16.34 (−18.19%) |
Jul 27, 2026 9w ago | 8-K | $19.51 $18.08 | ▼ −7.33% | ▼ −8.40% | $16.34 (−16.22%) |
Jul 24, 2026 10w ago | 8-K | $16.21 $17.98 | ▲ +10.92% | ▲ +10.55% | $16.34 (+0.83%) |
Jul 14, 2026 11w ago | 8-K | $18.95 $16.72 | ▼ −11.77% | ▼ −10.47% | $16.34 (−13.75%) |
US Market Status
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