Vanguard Group Inc. Increases Stake in IonQ, Inc. (NYSE:IONQ)

Vanguard Group Inc. grew its position in IonQ, Inc. (NYSE:IONQ) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,906,731 shares of the company’s stock after acquiring an additional 193,924 shares during the period. Vanguard Group Inc. owned about 0.09% of IonQ worth $221,864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IONQ. Norges Bank purchased a new position in IonQ in the fourth quarter worth $26,430,000. Northern Trust Corp increased its holdings in shares of IonQ by 3.0% in the 3rd quarter. Northern Trust Corp now owns 1,498,567 shares of the company’s stock valued at $22,299,000 after purchasing an additional 43,237 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of IonQ by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,321,275 shares of the company’s stock valued at $16,371,000 after purchasing an additional 29,577 shares during the period. Carnegie Capital Asset Management LLC lifted its stake in shares of IonQ by 4.1% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 517,134 shares of the company’s stock valued at $6,407,000 after purchasing an additional 20,540 shares during the period. Finally, Invesco Ltd. boosted its holdings in IonQ by 282.9% during the third quarter. Invesco Ltd. now owns 453,221 shares of the company’s stock worth $6,744,000 after buying an additional 334,856 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of IonQ in a report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.50.

IonQ Stock Down 2.6 %

IonQ stock opened at $6.85 on Tuesday. The firm has a market capitalization of $1.45 billion, a PE ratio of -8.30 and a beta of 2.06. IonQ, Inc. has a 52 week low of $6.33 and a 52 week high of $21.60. The firm’s 50-day simple moving average is $8.13 and its 200 day simple moving average is $9.81.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.07. IonQ had a negative net margin of 671.00% and a negative return on equity of 31.76%. The company had revenue of $7.58 million for the quarter, compared to the consensus estimate of $7.08 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The company’s revenue for the quarter was up 76.9% compared to the same quarter last year. On average, research analysts expect that IonQ, Inc. will post -0.89 EPS for the current fiscal year.

Insider Buying and Selling at IonQ

In other news, CFO Thomas G. Kramer sold 4,610 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $7.89, for a total value of $36,372.90. Following the completion of the transaction, the chief financial officer now directly owns 949,614 shares of the company’s stock, valued at $7,492,454.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Thomas G. Kramer sold 4,610 shares of IonQ stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total transaction of $36,372.90. Following the completion of the sale, the chief financial officer now directly owns 949,614 shares in the company, valued at $7,492,454.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Rima Alameddine sold 9,807 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total transaction of $77,377.23. Following the transaction, the executive now directly owns 687,840 shares in the company, valued at approximately $5,427,057.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,353 shares of company stock worth $160,585. 11.60% of the stock is owned by insiders.

About IonQ

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service.