Charles Schwab Investment Management Inc. Sells 28,482 Shares of IonQ, Inc. $IONQ

Charles Schwab Investment Management Inc. cut its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,617,190 shares of the company's stock after selling 28,482 shares during the period. Charles Schwab Investment Management Inc. owned about 0.73% of IonQ worth $35,691,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of IONQ. Vanguard Group Inc. raised its stake in IonQ by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 21,497,964 shares of the company's stock valued at $474,460,000 after acquiring an additional 123,839 shares during the period. Northern Trust Corp increased its stake in shares of 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 in the last quarter. UNICOM Systems Inc. raised its position in shares of IonQ by 77.4% in the first quarter. UNICOM Systems Inc. now owns 768,900 shares of the company's stock valued at $16,970,000 after purchasing an additional 335,429 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of IonQ during the 4th quarter valued at approximately $29,519,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of IonQ by 475.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 688,764 shares of the company's stock valued at $28,771,000 after buying an additional 569,061 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors.

IonQ Price Performance

IonQ stock opened at $40.31 on Tuesday. IonQ, Inc. has a one year low of $6.54 and a one year high of $54.74. The stock has a market capitalization of $11.97 billion, a PE ratio of -20.05 and a beta of 2.54. The business's fifty day moving average is $41.72 and its 200 day moving average is $34.35.

IonQ (NYSE:IONQ - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.70) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $20.69 million during the quarter, compared to the consensus estimate of $17.23 million. During the same period in the prior year, the company posted ($0.18) EPS. The firm's revenue was up 81.6% compared to the same quarter last year. As a group, sell-side analysts expect that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IONQ shares. Benchmark lifted their price objective on shares of IonQ from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Needham & Company LLC reiterated a "buy" rating on shares of IonQ in a research report on Monday, August 4th. Cantor Fitzgerald assumed coverage on IonQ in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $45.00 price objective on the stock. Sanford C. Bernstein assumed coverage on IonQ in a report on Wednesday, July 30th. They set a "market perform" rating on the stock. Finally, Morgan Stanley raised their price objective on shares of IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $45.00.

Insiders Place Their Bets

In related news, insider Peter Hume Chapman sold 1,497,311 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $39.93, for a total transaction of $59,787,628.23. Following the completion of the sale, the insider directly owned 390,329 shares of the company's stock, valued at approximately $15,585,836.97. This trade represents a 79.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Rima Alameddine sold 45,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $46.18, for a total value of $2,078,100.00. Following the sale, the executive directly owned 552,592 shares of the company's stock, valued at $25,518,698.56. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,209,626 shares of company stock worth $361,253,723 over the last quarter. Company insiders own 5.20% of the company's stock.

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.

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