IonQ, Inc. $IONQ Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its stake in shares of IonQ, Inc. (NYSE:IONQ) by 36.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,639 shares of the company’s stock after acquiring an additional 28,599 shares during the quarter. Intech Investment Management LLC’s holdings in IonQ were worth $4,830,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in shares of IonQ by 12.5% during the 1st quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock worth $2,962,000 after purchasing an additional 14,898 shares during the period. Amundi purchased a new stake in shares of IonQ during the 1st quarter worth about $630,000. AQR Capital Management LLC grew its holdings in shares of IonQ by 106.2% during the 1st quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock worth $1,265,000 after purchasing an additional 29,513 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of IonQ by 24.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock worth $9,932,000 after purchasing an additional 87,428 shares during the period. Finally, Focus Partners Wealth grew its holdings in shares of IonQ by 30.3% during the 1st quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock worth $1,032,000 after purchasing an additional 10,881 shares during the period. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Needham & Company LLC decreased their target price on IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 26th. DA Davidson decreased their target price on IonQ from $55.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, February 26th. Morgan Stanley set a $48.50 price target on IonQ in a report on Thursday, May 7th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of IonQ in a report on Monday, February 9th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.63.

IonQ Stock Down 0.0%

NYSE IONQ opened at $72.07 on Monday. The stock has a market cap of $26.90 billion, a PE ratio of -257.38 and a beta of 3.18. IonQ, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $84.64. The business has a 50 day moving average price of $43.76 and a two-hundred day moving average price of $43.55.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). The company had revenue of $64.67 million during the quarter, compared to analysts’ expectations of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The firm’s revenue was up 754.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.14) EPS. Sell-side analysts anticipate that IonQ, Inc. will post -2.26 EPS for the current fiscal year.

Insider Buying and Selling

In other IonQ news, insider John W. Raymond sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $33.34, for a total value of $93,352.00. Following the completion of the transaction, the insider owned 83,963 shares in the company, valued at $2,799,326.42. This represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert T. Cardillo sold 3,773 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total value of $188,272.70. Following the transaction, the insider owned 139,967 shares of the company’s stock, valued at approximately $6,984,353.30. This trade represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.20% of the stock is owned by corporate insiders.

IonQ Company Profile

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.