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

Deutsche Bank AG boosted its stake in IonQ, Inc. (NYSE:IONQ - Free Report) by 79.4% during the 4th quarter, according to the company in its most recent filing with the Securities and 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 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. 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. Chevy Chase Trust Holdings LLC purchased a new position in shares of IonQ during the fourth quarter worth about $32,060,000. Ameriprise Financial Inc. acquired a new stake in shares of IonQ during the fourth quarter worth about $29,519,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of IonQ in the 4th quarter valued at about $29,513,000. Finally, Invesco Ltd. grew its stake in IonQ by 439.3% during the 4th 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. Institutional investors and hedge funds own 41.42% of the company's stock.

Insider Buying and Selling

In other IonQ news, insider Peter Hume Chapman sold 2,000,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the sale, the insider now directly owns 414,363 shares in the company, valued at $7,756,875.36. This represents a 82.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William F. Scannell purchased 93,066 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the purchase, the director now owns 135,047 shares in the company, valued at approximately $2,945,375.07. The trade was a 221.69% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 2,033,166 shares of company stock valued at $38,059,593 over the last 90 days. 11.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

IonQ Stock Performance

Shares of NYSE IONQ traded up $0.00 during mid-day trading on Tuesday, hitting $35.09. 6,606,329 shares of the stock were exchanged, compared to its average volume of 16,693,756. The company has a market cap of $7.82 billion, a P/E ratio of -42.81 and a beta of 2.46. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The stock's fifty day simple moving average is $26.49 and its two-hundred day simple moving average is $31.41.

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

IonQ Company 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.