IonQ, Inc. (NYSE:IONQ) Stock Holdings Lifted by Allworth Financial LP

Allworth Financial LP increased its holdings in IonQ, Inc. (NYSE:IONQ) by 33.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,682 shares of the company’s stock after buying an additional 929 shares during the quarter. Allworth Financial LP’s holdings in IonQ were worth $81,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IONQ. JPMorgan Chase & Co. grew its stake in 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 buying an additional 2,293,231 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of IonQ in the fourth quarter valued at $29,519,000. Arrowstreet Capital Limited Partnership bought a new position in IonQ in the 4th quarter valued at $29,513,000. Invesco Ltd. boosted its holdings in IonQ by 439.3% during the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company’s stock worth $35,800,000 after buying an additional 698,146 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of IonQ by 475.4% during the 4th 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 in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IONQ shares. Cantor Fitzgerald assumed coverage on shares of IonQ in a report on Wednesday, July 2nd. They issued an “overweight” rating and a $45.00 price objective on the stock. 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 report on Thursday, May 8th. Benchmark raised their target price on IonQ from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of IonQ in a report on Wednesday, June 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.43.

IonQ Stock Performance

Shares of IONQ opened at $44.83 on Friday. The firm has a 50-day simple moving average of $40.39 and a 200-day simple moving average of $34.07. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74. The company has a market capitalization of $11.73 billion, a price-to-earnings 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, topping the consensus estimate of ($0.28) by $0.14. IonQ had a negative net margin of 753.20% and a negative return on equity of 63.35%. The business had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. During the same period in the prior year, the firm posted ($0.19) EPS. The company’s revenue was down .2% on a year-over-year basis. Equities research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current year.

Insider Buying and Selling

In related news, CRO Rima Alameddine sold 65,000 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were 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 of the company’s stock, valued at approximately $21,313,473.44. This trade represents a 10.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathryn K. Chou sold 25,696 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $40.46, for a total value of $1,039,660.16. Following the completion of the sale, the director directly owned 62,115 shares in the company, valued at approximately $2,513,172.90. This represents a 29.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,144,372 shares of company stock valued at $358,255,229. Company insiders own 5.20% of the company’s stock.

IonQ 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.