Charles Schwab Investment Management Inc. Buys 279,895 Shares of IonQ, Inc. $IONQ

Charles Schwab Investment Management Inc. grew its stake in shares of IonQ, Inc. (NYSE:IONQ) by 17.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,897,085 shares of the company’s stock after purchasing an additional 279,895 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.73% of IonQ worth $81,518,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Avantax Advisory Services Inc. grew its stake in shares of IonQ by 10.3% in the first quarter. Avantax Advisory Services Inc. now owns 57,359 shares of the company’s stock valued at $1,266,000 after buying an additional 5,336 shares in the last quarter. Cetera Investment Advisers lifted its stake in IonQ by 7.0% in the first quarter. Cetera Investment Advisers now owns 36,417 shares of the company’s stock valued at $804,000 after acquiring an additional 2,384 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in IonQ by 28.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,408 shares of the company’s stock valued at $1,135,000 after acquiring an additional 11,398 shares during the last quarter. LPL Financial LLC grew its position in shares of IonQ by 14.7% in the 1st quarter. LPL Financial LLC now owns 151,209 shares of the company’s stock valued at $3,337,000 after acquiring an additional 19,363 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in shares of IonQ during the 1st quarter worth about $198,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insiders Place Their Bets

In other IonQ news, CEO Masi Niccolo De sold 16,120 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $715,728.00. Following the transaction, the chief executive officer directly owned 1,181,186 shares of the company’s stock, valued at $52,444,658.40. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul T. Dacier sold 4,175 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $185,370.00. Following the sale, the insider directly owned 114,454 shares of the company’s stock, valued at approximately $5,081,757.60. This trade represents a 3.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 213,622 shares of company stock valued at $9,620,896 over the last 90 days. 5.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 target price on shares of IonQ in a research note on Thursday, November 6th. Benchmark raised their price objective on IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. JPMorgan Chase & Co. initiated coverage on IonQ in a research note on Thursday, November 20th. They set a “neutral” rating and a $47.00 target price for the company. B. Riley increased their price target on IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Finally, Rosenblatt Securities raised their price target on IonQ from $70.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.00.

IonQ Trading Up 5.5%

NYSE IONQ opened at $49.50 on Friday. The company has a market cap of $17.20 billion, a price-to-earnings ratio of -9.25 and a beta of 2.59. IonQ, Inc. has a 1-year low of $17.88 and a 1-year high of $84.64. The company has a 50 day moving average of $60.64 and a 200-day moving average of $48.94.

IonQ (NYSE:IONQ) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($3.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.14). The company had revenue of $39.87 million for the quarter, compared to the consensus estimate of $26.99 million. IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.IonQ’s revenue was up 221.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.24) EPS. IonQ has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current year.

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.