IonQ, Inc. (NYSE:IONQ) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its position in IonQ, Inc. (NYSE:IONQ) by 65.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,576 shares of the company’s stock after selling 12,188 shares during the quarter. Nisa Investment Advisors LLC’s holdings in IonQ were worth $145,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in IonQ by 1,310.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company’s stock worth $103,095,000 after purchasing an additional 2,293,231 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in IonQ in the fourth quarter valued at approximately $29,519,000. Arrowstreet Capital Limited Partnership purchased a new stake in IonQ in the fourth quarter valued at approximately $29,513,000. Invesco Ltd. lifted its stake in IonQ by 439.3% in the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company’s stock valued at $35,800,000 after buying an additional 698,146 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of IonQ by 475.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 688,764 shares of the company’s stock valued at $28,771,000 after purchasing an additional 569,061 shares during the period. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Stock Performance

Shares of IONQ stock opened at $44.83 on Friday. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The stock has a fifty day moving average of $40.39 and a two-hundred day moving average of $34.07. The firm has a market capitalization of $11.73 billion, a PE ratio of -30.08 and a beta of 2.55.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.14. The business had revenue of $7.57 million during the quarter, compared to analyst estimates of $7.51 million. IonQ had a negative return on equity of 63.35% and a negative net margin of 753.20%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. Equities research analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on IONQ shares. Morgan Stanley boosted their target price on IonQ from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of IonQ in a report on Wednesday, June 11th. DA Davidson lowered their target price on IonQ from $50.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Cantor Fitzgerald started coverage on IonQ in a report on Wednesday, July 2nd. They issued an “overweight” rating and a $45.00 target price on the stock. Finally, Benchmark raised their price target on shares of IonQ from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, IonQ currently has a consensus rating of “Moderate Buy” and an average price target of $41.43.

Insider Buying and Selling at IonQ

In other IonQ news, CRO Rima Alameddine sold 65,000 shares of IonQ stock in a transaction on Friday, June 13th. The stock was sold at an average price of $38.57, for a total value of $2,507,050.00. Following the completion of the transaction, the executive owned 552,592 shares in the company, valued at approximately $21,313,473.44. The trade was a 10.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Masi Niccolo De sold 2,597,500 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $40.34, for a total value of $104,783,150.00. Following the completion of the sale, the chief executive officer owned 711,987 shares of the company’s stock, valued at $28,721,555.58. This represents a 78.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,144,372 shares of company stock worth $358,255,229 over the last three months. 5.20% of the stock is currently 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.