IonQ, Inc. (NYSE:IONQ) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers lifted its position in IonQ, Inc. (NYSE:IONQ) by 6.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 323,930 shares of the company’s stock after purchasing an additional 20,127 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of IonQ worth $7,149,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of IonQ by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 21,374,125 shares of the company’s stock valued at $892,797,000 after purchasing an additional 125,144 shares during the period. Geode Capital Management LLC boosted its position in shares of IonQ by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,466,094 shares of the company’s stock valued at $186,593,000 after purchasing an additional 45,942 shares during the period. JPMorgan Chase & Co. boosted its position in shares of IonQ by 1,310.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company’s stock valued at $103,095,000 after purchasing an additional 2,293,231 shares during the period. Northern Trust Corp boosted its position in shares of IonQ by 12.6% in the 4th quarter. Northern Trust Corp now owns 1,934,625 shares of the company’s stock valued at $80,809,000 after purchasing an additional 216,752 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of IonQ by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company’s stock valued at $68,740,000 after purchasing an additional 31,638 shares during the period. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Trading Up 0.1%

Shares of IONQ stock opened at $39.79 on Thursday. The company has a market cap of $8.87 billion, a price-to-earnings ratio of -49.13 and a beta of 2.59. The stock has a 50 day simple moving average of $32.54 and a 200-day simple moving average of $33.27. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74.

IonQ (NYSE:IONQ) last issued its earnings results 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. The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.51 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) EPS. On average, equities analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on IONQ. Morgan Stanley upped their price objective on IonQ from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of IonQ in a research note on Wednesday. Benchmark upped their price objective on IonQ from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, DA Davidson reduced their price objective on IonQ from $50.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.00.

Insider Activity at IonQ

In other IonQ news, CEO Masi Niccolo De sold 9,280 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $42.23, for a total transaction of $391,894.40. Following the completion of the transaction, the chief executive officer now owns 711,987 shares of the company’s stock, valued at approximately $30,067,211.01. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.20% of the stock is currently owned by company 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.