Cookson Peirce & Co. Inc. Has $5.69 Million Holdings in IonQ, Inc. $IONQ

Key Points

• Cookson Peirce & Co. Inc. increased its IonQ stake by 7.7% in the fourth quarter, ending with 126,806 shares valued at about $5.69 million.
• Institutional ownership remains significant, with hedge funds and other investors holding 41.42% of IonQ’s stock, while insiders own 5.20%. Recent insider selling included shares sold by John W. Raymond and Robert T. Cardillo.
• IonQ reported strong revenue growth of $64.67 million for the latest quarter, up 754.7% year over year, but still missed EPS expectations and posted a loss. Analysts currently rate the stock a Moderate Buy with an average price target of $68.63.

Cookson Peirce & Co. Inc. boosted its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 126,806 shares of the company's stock after buying an additional 9,089 shares during the period. Cookson Peirce & Co. Inc.'s holdings in IonQ were worth $5,690,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lauer Wealth LLC grew its stake in IonQ by 5.3% during the 4th quarter. Lauer Wealth LLC now owns 5,107 shares of the company's stock valued at $229,000 after acquiring an additional 255 shares in the last quarter. Beaird Harris Wealth Management LLC grew its stake in IonQ by 117.4% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company's stock valued at $31,000 after acquiring an additional 270 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in IonQ by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company's stock valued at $36,000 after acquiring an additional 279 shares in the last quarter. Letson Investment Management Inc. grew its stake in IonQ by 2.6% during the 4th quarter. Letson Investment Management Inc. now owns 12,619 shares of the company's stock valued at $566,000 after acquiring an additional 319 shares in the last quarter. Finally, Ameriflex Group Inc. grew its stake in IonQ by 485.7% during the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company's stock valued at $25,000 after acquiring an additional 340 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

Insider Activity at IonQ

In related news, insider John W. Raymond sold 2,800 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $33.34, for a total value of $93,352.00. Following the completion of the sale, the insider owned 83,963 shares of the company's stock, valued at approximately $2,799,326.42. The trade was a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert T. Cardillo sold 3,773 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total value of $188,272.70. Following the completion of the sale, the insider directly owned 139,967 shares of the company's stock, valued at approximately $6,984,353.30. The trade was a 2.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 5.20% of the company's stock.

IonQ Stock Performance

Shares of NYSE IONQ opened at $56.99 on Friday. The stock has a market cap of $21.27 billion, a price-to-earnings ratio of -203.53 and a beta of 3.18. The business has a 50 day simple moving average of $47.17 and a 200 day simple moving average of $44.19. IonQ, Inc. has a 52 week low of $25.89 and a 52 week high of $84.64.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The firm 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 company's quarterly revenue was up 754.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.14) EPS. On average, analysts predict that IonQ, Inc. will post -2.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IONQ shares. Benchmark lowered their target price on IonQ from $75.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Wedbush reaffirmed an "outperform" rating and set a $60.00 target price on shares of IonQ in a research note on Monday, May 4th. Wall Street Zen raised IonQ from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 23rd. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 target price on shares of IonQ in a research note on Thursday, February 26th. Finally, Jefferies Financial Group set a $85.00 target price on IonQ in a research note on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, IonQ has an average rating of "Moderate Buy" and an average price target of $68.63.

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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