11,752 Shares in IonQ, Inc. $IONQ Bought by Triton Wealth Management PLLC

Key Points

• Triton Wealth Management PLLC acquired 11,752 shares of IonQ, Inc. valued at approximately $516,000 in the second quarter.
• Insider trading activity includes CFO Thomas G. Kramer selling 64,578 shares, representing a 12.01% decrease in his position.
• Analysts have given IonQ a consensus rating of "Hold" with a target price of $58.33, reflecting varied evaluations from recent upgrades and downgrades.

Triton Wealth Management PLLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 11,752 shares of the company's stock, valued at approximately $516,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in IonQ by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 21,497,964 shares of the company's stock worth $474,460,000 after acquiring an additional 123,839 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in IonQ by 101.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company's stock worth $20,476,000 after acquiring an additional 467,084 shares during the period. UNICOM Systems Inc. boosted its position in IonQ by 77.4% during the 1st quarter. UNICOM Systems Inc. now owns 768,900 shares of the company's stock worth $16,970,000 after acquiring an additional 335,429 shares during the period. Deutsche Bank AG boosted its position in IonQ by 255.8% during the 1st quarter. Deutsche Bank AG now owns 761,066 shares of the company's stock worth $16,797,000 after acquiring an additional 547,155 shares during the period. Finally, Nuveen LLC acquired a new position in IonQ during the 1st quarter worth $12,193,000. 41.42% of the stock is currently owned by institutional investors.

Insider Activity at IonQ

In other news, CFO Thomas G. Kramer sold 64,578 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $41.82, for a total transaction of $2,700,651.96. Following the completion of the sale, the chief financial officer directly owned 473,302 shares of the company's stock, valued at $19,793,489.64. This trade represents a 12.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul T. Dacier sold 4,175 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $44.40, for a total value of $185,370.00. Following the sale, the insider directly owned 114,454 shares of the company's stock, valued at $5,081,757.60. This trade represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 178,876 shares of company stock worth $7,930,390. 5.20% of the stock is currently owned by corporate insiders.

IonQ Trading Down 4.5%

Shares of IonQ stock opened at $78.38 on Wednesday. The stock has a 50-day moving average price of $54.57 and a 200 day moving average price of $42.38. The company has a market cap of $23.27 billion, a P/E ratio of -39.00 and a beta of 2.60. IonQ, Inc. has a 1 year low of $10.36 and a 1 year high of $84.64.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.57). The business had revenue of $20.69 million during the quarter, compared to analysts' expectations of $17.23 million. IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The firm's revenue was up 81.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) earnings per share. On average, equities analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IONQ shares. Cantor Fitzgerald boosted their price target on IonQ from $45.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. Oppenheimer initiated coverage on IonQ in a report on Wednesday, July 30th. They issued an "outperform" rating for the company. Rosenblatt Securities restated a "buy" rating and issued a $70.00 price objective on shares of IonQ in a report on Monday, September 15th. Sanford C. Bernstein initiated coverage on IonQ in a report on Wednesday, July 30th. They issued a "market perform" rating for the company. Finally, Benchmark upped their price objective on IonQ from $55.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $58.33.

About IonQ

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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