41,291 Shares in IonQ, Inc. $IONQ Acquired by Spear Advisors LLC

Key Points

• Spear Advisors LLC initiated a new position in IonQ during the fourth quarter, buying 41,291 shares valued at about $1.85 million. The stake represents roughly 1.3% of the firm’s portfolio and its 21st-largest holding.
• Institutional ownership in IonQ remains heavy, with major funds like Vanguard, State Street, Geode, and Norges Bank all adding to their positions. Overall, 41.42% of the stock is owned by institutional investors and hedge funds.
• IonQ’s latest earnings showed strong revenue growth but an earnings miss: revenue rose 754.7% year over year to $64.67 million, while EPS came in at -$0.34 versus estimates of -$0.26. Analysts currently rate the stock a Moderate Buy with a consensus price target of $68.63.

Spear Advisors LLC bought a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 41,291 shares of the company's stock, valued at approximately $1,853,000. IonQ accounts for approximately 1.3% of Spear Advisors LLC's holdings, making the stock its 21st largest holding.

Several other hedge funds have also added to or reduced their stakes in IONQ. Vanguard Group Inc. raised its holdings in IonQ by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company's stock worth $1,560,343,000 after purchasing an additional 5,420,037 shares during the last quarter. State Street Corp raised its holdings in IonQ by 42.3% during the 4th quarter. State Street Corp now owns 8,962,789 shares of the company's stock worth $402,160,000 after purchasing an additional 2,663,230 shares during the last quarter. Geode Capital Management LLC raised its holdings in IonQ by 21.9% during the 4th quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company's stock worth $361,624,000 after purchasing an additional 1,452,463 shares during the last quarter. Norges Bank bought a new position in IonQ during the 4th quarter worth approximately $199,753,000. Finally, Marex Group plc raised its holdings in IonQ by 419.1% during the 4th quarter. Marex Group plc now owns 4,083,453 shares of the company's stock worth $183,225,000 after purchasing an additional 3,296,866 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on IONQ shares. Rosenblatt Securities restated a "buy" rating and set a $100.00 price target on shares of IonQ in a report on Thursday, February 26th. JPMorgan Chase & Co. raised their price target on shares of IonQ from $42.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Wedbush restated an "outperform" rating and set a $60.00 price target on shares of IonQ in a report on Monday, May 4th. DA Davidson lowered their price target on shares of IonQ from $55.00 to $35.00 and set a "neutral" rating for the company in a report on Thursday, February 26th. Finally, Morgan Stanley set a $48.50 price target on shares of IonQ in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.63.

IonQ Stock Up 8.4%

NYSE:IONQ opened at $52.53 on Thursday. The company has a fifty day moving average of $39.31 and a 200-day moving average of $43.16. The firm has a market capitalization of $19.61 billion, a P/E ratio of -187.61 and a beta of 3.05. IonQ, Inc. has a twelve month low of $25.89 and a twelve month high of $84.64.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The company had revenue of $64.67 million during the quarter, compared to the consensus estimate of $49.75 million. IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The business's revenue was up 754.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.14) EPS. On average, analysts anticipate that IonQ, Inc. will post -1.99 EPS for the current fiscal year.

Insider Buying and Selling at IonQ

In other IonQ news, insider John W. Raymond sold 2,800 shares of the business's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $33.34, for a total transaction of $93,352.00. Following the completion of the sale, the insider owned 83,963 shares in the company, valued at approximately $2,799,326.42. The trade was a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William J. Teuber, Jr. purchased 3,000 shares of the firm's stock in a transaction on Friday, February 27th. The shares were acquired at an average price of $38.38 per share, with a total value of $115,140.00. Following the purchase, the director directly owned 9,413 shares in the company, valued at $361,270.94. This represents a 46.78% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 12,354 shares of company stock worth $504,428. 5.20% of the stock is owned by corporate insiders.

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.

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