Algert Global LLC Has $1.43 Million Stock Position in IonQ, Inc. $IONQ

Algert Global LLC trimmed its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 30.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,760 shares of the company's stock after selling 29,000 shares during the quarter. Algert Global LLC's holdings in IonQ were worth $1,429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in IonQ by 0.6% in the first quarter. Vanguard Group Inc. now owns 21,497,964 shares of the company's stock worth $474,460,000 after purchasing an additional 123,839 shares during the period. Northern Trust Corp increased its position in IonQ by 12.6% in the fourth quarter. Northern Trust Corp now owns 1,934,625 shares of the company's stock worth $80,809,000 after purchasing an additional 216,752 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in IonQ by 101.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company's stock worth $20,476,000 after purchasing an additional 467,084 shares during the period. UNICOM Systems Inc. increased its position in IonQ by 77.4% in the first quarter. UNICOM Systems Inc. now owns 768,900 shares of the company's stock worth $16,970,000 after purchasing an additional 335,429 shares during the period. Finally, Deutsche Bank AG increased its position in IonQ by 255.8% in the first quarter. Deutsche Bank AG now owns 761,066 shares of the company's stock worth $16,797,000 after purchasing an additional 547,155 shares during the period. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Masi Niccolo De sold 2,597,500 shares of IonQ stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $40.34, for a total transaction of $104,783,150.00. Following the transaction, the chief executive officer owned 711,987 shares in the company, valued at $28,721,555.58. The trade was a 78.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter Hume Chapman sold 3,581,193 shares of IonQ stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $38.13, for a total value of $136,550,889.09. Following the transaction, the insider owned 390,329 shares in the company, valued at $14,883,244.77. This trade represents a 90.17% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,209,626 shares of company stock worth $361,253,723. Company insiders own 5.20% of the company's stock.

IonQ Trading Up 7.1%

Shares of IONQ opened at $39.7910 on Friday. IonQ, Inc. has a 1 year low of $6.54 and a 1 year high of $54.74. The stock has a market cap of $11.81 billion, a P/E ratio of -19.80 and a beta of 2.54. The stock's 50-day moving average price is $41.61 and its two-hundred day moving average price is $34.34.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Oppenheimer assumed coverage on IonQ in a research report on Wednesday, July 30th. They issued an "outperform" rating for the company. Needham & Company LLC restated a "buy" rating on shares of IonQ in a report on Monday, August 4th. Benchmark raised their target price on IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Rosenblatt Securities began coverage on IonQ in a report on Tuesday, July 29th. They set a "buy" rating and a $70.00 target price on the stock. Finally, Morgan Stanley raised their target price on IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, IonQ has a consensus rating of "Moderate Buy" and an average target price of $45.00.

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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