Corient Private Wealth LLC Purchases 13,996 Shares of IonQ, Inc. $IONQ

Key Points

• Corient Private Wealth LLC increased its IonQ stake by 29.5% in the fourth quarter, buying 13,996 additional shares and bringing its total holdings to 61,437 shares worth about $2.76 million.
• IonQ saw mixed insider activity, with executives and directors selling shares recently; insiders have sold 13,102 shares worth about $701,489 over the last 90 days.
• The stock traded around $49.43 and remains volatile, while the company’s latest earnings missed EPS estimates but beat revenue expectations, with quarterly revenue up 754.7% year over year.

Corient Private Wealth LLC boosted its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 29.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,437 shares of the company's stock after purchasing an additional 13,996 shares during the period. Corient Private Wealth LLC's holdings in IonQ were worth $2,757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. lifted its position in IonQ by 485.7% during the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company's stock worth $25,000 after buying an additional 340 shares in the last quarter. Accent Capital Management LLC raised its stake in shares of IonQ by 171.8% in the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company's stock worth $26,000 after acquiring an additional 371 shares during the last quarter. Fortitude Family Office LLC lifted its position in shares of IonQ by 3,800.0% during the fourth quarter. Fortitude Family Office LLC now owns 624 shares of the company's stock worth $28,000 after purchasing an additional 608 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its position in shares of IonQ by 117.4% during the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company's stock worth $31,000 after purchasing an additional 270 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of IonQ by 50.5% during the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company's stock worth $36,000 after purchasing an additional 279 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Robert T. Cardillo sold 3,773 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 139,967 shares of the company's stock, valued at approximately $6,984,353.30. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gabrielle B. Toledano sold 2,757 shares of the business's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $151,662.57. Following the transaction, the director owned 11,154 shares in the company, valued at $613,581.54. This represents a 19.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,102 shares of company stock valued at $701,489 in the last ninety days. 0.55% of the stock is owned by company insiders.

IonQ Stock Up 0.2%

Shares of IONQ stock opened at $49.43 on Monday. IonQ, Inc. has a 12-month low of $25.89 and a 12-month high of $84.64. The firm has a market capitalization of $18.45 billion, a price-to-earnings ratio of -176.55 and a beta of 3.18. The firm has a fifty day moving average of $55.08 and a 200-day moving average of $45.04.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.08). IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The business had revenue of $64.67 million for the quarter, compared to analyst estimates of $49.75 million. During the same period in the prior year, the business earned ($0.14) EPS. The company's revenue for the quarter was up 754.7% compared to the same quarter last year. Research analysts expect that IonQ, Inc. will post -2.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on IONQ shares. JPMorgan Chase & Co. upped their price objective on IonQ from $42.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Jefferies Financial Group set a $85.00 target price on IonQ in a research note on Thursday, May 7th. Wall Street Zen upgraded IonQ from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 13th. Morgan Stanley set a $48.50 price target on IonQ in a research note on Thursday, May 7th. Finally, Wedbush reiterated an "outperform" rating and issued a $60.00 price target on shares of IonQ in a report on Monday, May 4th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $69.88.

Key Stories Impacting IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Recent articles highlight IonQ as a key beneficiary of Washington’s growing quantum-computing push, with federal support and strategic interest potentially boosting demand for the company’s technology. Washington’s Quantum Push Puts IBM and IonQ on the Throne (IONQ)
• Positive Sentiment: IonQ also drew attention for a new quantum security product, Clavis XG Multiplex, which could expand its addressable market in cybersecurity and metro fiber-network applications. IonQ Unveils New Quantum Security Solution as Cybersecurity Risks Grow
• Neutral Sentiment: IonQ is also seeing elevated investor and media attention, which can keep trading volume high and the stock volatile, even without a specific new catalyst. Investors Heavily Search IonQ, Inc. (IONQ): Here is What You Need to Know
• Neutral Sentiment: Multiple roundup and comparison pieces on quantum-computing stocks, including IonQ versus rivals, suggest investors remain focused on the sector’s long-term potential rather than any single near-term fundamental change. IonQ vs. Quantinuum: Which Quantum Computing Accuracy-Leading Stock Looks Like the Better Buy?
• Negative Sentiment: The stock recently suffered a sharper drop than the broader market, reinforcing concerns about valuation and ongoing volatility after a sizable one-day decline. IonQ, Inc. (IONQ) Suffers a Larger Drop Than the General Market: Key Insights

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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