Deutsche Bank AG Acquires 94,650 Shares of IonQ, Inc. (NYSE:IONQ)

Deutsche Bank AG boosted its holdings in IonQ, Inc. (NYSE:IONQ - Free Report) by 79.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,911 shares of the company's stock after buying an additional 94,650 shares during the period. Deutsche Bank AG owned approximately 0.10% of IonQ worth $8,935,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in IONQ. Lauer Wealth LLC acquired a new stake in shares of IonQ during the 4th quarter worth approximately $247,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of IonQ during the 4th quarter worth approximately $215,000. Wealth Management Partners LLC acquired a new stake in shares of IonQ during the 4th quarter worth approximately $234,000. Sugar Maple Asset Management LLC acquired a new stake in shares of IonQ during the 4th quarter worth approximately $84,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of IonQ by 625.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 18,764 shares of the company's stock worth $784,000 after purchasing an additional 16,177 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

IonQ Price Performance

Shares of IONQ stock opened at $35.06 on Friday. The stock's fifty day simple moving average is $26.22 and its 200 day simple moving average is $31.05. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of -43.29 and a beta of 2.46. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.14. The business had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. IonQ's quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.19) EPS. On average, research analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on IONQ shares. Needham & Company LLC decreased their price objective on IonQ from $54.00 to $50.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. DA Davidson decreased their price objective on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Benchmark decreased their price objective on IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Morgan Stanley lifted their price objective on IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, IonQ presently has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Insider Activity at IonQ

In other IonQ news, insider Peter Hume Chapman sold 2,000,000 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total value of $37,440,000.00. Following the transaction, the insider now owns 414,363 shares of the company's stock, valued at approximately $7,756,875.36. The trade was a 82.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Rima Alameddine sold 20,047 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $372,272.79. Following the completion of the transaction, the executive now directly owns 572,568 shares in the company, valued at approximately $10,632,587.76. This represents a 3.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,033,166 shares of company stock valued at $38,059,593 in the last 90 days. 11.60% of the stock is owned by corporate insiders.

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.

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