36,990 Shares in IonQ, Inc. (NYSE:IONQ) Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets bought a new position in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,990 shares of the company’s stock, valued at approximately $1,545,000.

Several other institutional investors and hedge funds have also bought and sold shares of IONQ. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of IonQ in the fourth quarter valued at $3,840,000. Strategic Advocates LLC bought a new position in shares of IonQ in the fourth quarter valued at $863,000. New York State Common Retirement Fund lifted its stake in shares of IonQ by 16.7% in the fourth quarter. New York State Common Retirement Fund now owns 61,481 shares of the company’s stock valued at $2,568,000 after buying an additional 8,800 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of IonQ by 9.2% in the fourth quarter. Rhumbline Advisers now owns 303,803 shares of the company’s stock valued at $12,690,000 after buying an additional 25,577 shares in the last quarter. Finally, McGuire Investment Group LLC bought a new position in shares of IonQ in the fourth quarter valued at $272,000. 41.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IONQ. Needham & Company LLC dropped their price objective on shares of IonQ from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. DA Davidson dropped their price target on shares of IonQ from $50.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Morgan Stanley raised their price target on shares of IonQ from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Finally, Benchmark dropped their price target on shares of IonQ from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.33.

IonQ Price Performance

IONQ opened at $35.06 on Monday. The company’s 50-day moving average is $26.22 and its 200 day moving average is $31.27. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74. The firm has a market capitalization of $7.81 billion, a P/E ratio of -43.29 and a beta of 2.46.

IonQ (NYSE:IONQ) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.14. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.51 million. During the same quarter last year, the company posted ($0.19) earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities research analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Buying and Selling

In other IonQ news, Director William F. Scannell bought 93,066 shares of IonQ stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the purchase, the director now directly owns 135,047 shares of the company’s stock, valued at approximately $2,945,375.07. This trade represents a 221.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter Hume Chapman sold 2,000,000 shares of IonQ stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the transaction, the insider now owns 414,363 shares of the company’s stock, valued at $7,756,875.36. The trade was a 82.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,033,166 shares of company stock worth $38,059,593. Insiders own 11.60% of the company’s stock.

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.