Callan Family Office LLC Acquires New Shares in IonQ, Inc. $IONQ

Callan Family Office LLC bought a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,478 shares of the company's stock, valued at approximately $278,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC grew its stake in IonQ by 348.0% in the first quarter. ORG Partners LLC now owns 1,120 shares of the company's stock valued at $26,000 after acquiring an additional 870 shares during the period. 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 buying an additional 1,295 shares during the period. Close Asset Management Ltd acquired a new position in shares of IonQ during the first quarter worth about $35,000. SVB Wealth LLC acquired a new position in shares of IonQ during the first quarter worth about $35,000. Finally, Golden State Wealth Management LLC boosted its position in shares of IonQ by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,616 shares of the company's stock worth $36,000 after buying an additional 808 shares during the period. 41.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IONQ. B. Riley upped their price objective on IonQ from $75.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Needham & Company LLC upped their price objective on IonQ from $60.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Zacks Research cut IonQ from a "hold" rating to a "strong sell" rating in a research report on Monday, October 6th. Wolfe Research assumed coverage on IonQ in a research report on Wednesday, July 30th. They set a "peer perform" rating for the company. Finally, Cantor Fitzgerald increased their price target on IonQ from $45.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $58.33.

IonQ Price Performance

IONQ stock opened at $65.59 on Friday. The stock has a market capitalization of $19.47 billion, a price-to-earnings ratio of -32.63 and a beta of 2.60. The business's fifty day moving average price is $55.72 and its two-hundred day moving average price is $42.89. IonQ, Inc. has a fifty-two week low of $11.62 and a fifty-two week high of $84.64.

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

Insider Transactions at IonQ

In related news, CRO Rima Alameddine sold 19,976 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $886,934.40. Following the sale, the executive owned 532,616 shares of the company's stock, valued at $23,648,150.40. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert T. Cardillo sold 8,773 shares of IonQ stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $50.52, for a total value of $443,211.96. Following the transaction, the insider directly owned 37,436 shares in the company, valued at $1,891,266.72. The trade was a 18.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,876 shares of company stock worth $7,930,390. 5.20% of the stock is owned by insiders.

IonQ 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.

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