BI Asset Management Fondsmaeglerselskab A S Sells 57,489 Shares of IonQ, Inc. $IONQ

BI Asset Management Fondsmaeglerselskab A S cut its holdings in IonQ, Inc. (NYSE:IONQ - Free Report) by 91.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,567 shares of the company's stock after selling 57,489 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in IonQ were worth $123,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IONQ. ORG Partners LLC boosted its position in shares of IonQ by 348.0% during the first quarter. ORG Partners LLC now owns 1,120 shares of the company's stock worth $26,000 after purchasing an additional 870 shares in the last quarter. Measured Risk Portfolios Inc. bought a new position in shares of IonQ during the fourth quarter worth $27,000. TD Waterhouse Canada Inc. bought a new position in shares of IonQ during the fourth quarter worth $33,000. Future Financial Wealth Managment LLC boosted its position in shares of IonQ by 50.0% during the first quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of IonQ by 780.1% during the first quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock worth $34,000 after purchasing an additional 1,295 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IONQ shares. Needham & Company LLC reissued a "buy" rating on shares of IonQ in a research report on Monday, August 4th. Morgan Stanley lifted their price target on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Benchmark lifted their price target on shares of IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Oppenheimer began coverage on shares of IonQ in a report on Wednesday, July 30th. They set an "outperform" rating on the stock. Finally, DA Davidson lowered shares of IonQ from a "buy" rating to a "neutral" rating and set a $35.00 price objective on the stock. in a report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $45.00.

Insider Buying and Selling at IonQ

In other IonQ news, insider Peter Hume Chapman sold 1,497,311 shares of IonQ stock in a transaction on Friday, June 20th. The shares were sold at an average price of $39.93, for a total value of $59,787,628.23. Following the sale, the insider directly owned 390,329 shares in the company, valued at approximately $15,585,836.97. The trade was a 79.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathryn K. Chou sold 6,789 shares of IonQ stock in a transaction on Friday, July 11th. The shares were sold at an average price of $43.14, for a total transaction of $292,877.46. Following the completion of the sale, the director owned 60,839 shares in the company, valued at $2,624,594.46. The trade was a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,209,626 shares of company stock valued at $361,253,723 over the last quarter. 5.20% of the stock is currently owned by corporate insiders.

IonQ Trading Up 7.1%

Shares of IONQ stock opened at $39.7910 on Monday. IonQ, Inc. has a 1 year low of $6.54 and a 1 year high of $54.74. The firm's fifty day moving average price is $41.61 and its two-hundred day moving average price is $34.23. The firm has a market capitalization of $11.81 billion, a P/E ratio of -19.80 and a beta of 2.54.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings results 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). 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 during the quarter, compared to analyst estimates of $17.23 million. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. The firm's quarterly revenue was up 81.6% on a year-over-year basis. As a group, equities research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

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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