Dimensional Fund Advisors LP Decreases Stock Holdings in IonQ, Inc. (NYSE:IONQ)

Dimensional Fund Advisors LP cut its stake in IonQ, Inc. (NYSE:IONQ - Free Report) by 88.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,020 shares of the company's stock after selling 366,399 shares during the period. Dimensional Fund Advisors LP's holdings in IonQ were worth $2,048,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of IONQ. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of IonQ in the fourth quarter valued at about $3,840,000. Strategic Advocates LLC acquired a new position in shares of IonQ during the 4th quarter worth approximately $863,000. New York State Common Retirement Fund lifted its stake in IonQ by 16.7% in the 4th quarter. New York State Common Retirement Fund now owns 61,481 shares of the company's stock valued at $2,568,000 after buying an additional 8,800 shares in the last quarter. Rhumbline Advisers grew its holdings in IonQ by 9.2% during the 4th quarter. Rhumbline Advisers now owns 303,803 shares of the company's stock valued at $12,690,000 after buying an additional 25,577 shares during the last quarter. Finally, McGuire Investment Group LLC acquired a new stake in IonQ during the 4th quarter valued at $272,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Stock Up 7.8%

Shares of NYSE:IONQ traded up $2.52 during midday trading on Friday, reaching $35.06. The company's stock had a trading volume of 17,380,399 shares, compared to its average volume of 16,631,606. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of -43.29 and a beta of 2.46. The business has a 50 day moving average price of $25.89 and a 200 day moving average price of $30.93. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. During the same period last year, the company earned ($0.19) EPS. The firm's quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

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 dated 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas G. Kramer sold 11,712 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $217,491.84. Following the completion of the transaction, the chief financial officer now owns 944,510 shares in the company, valued at approximately $17,539,550.70. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. Insiders own 11.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on IONQ shares. Needham & Company LLC cut their price target on IonQ from $54.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Morgan Stanley boosted their target price 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. Benchmark decreased their price target on shares of IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, DA Davidson lowered their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.33.

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.