Daiichi Life Insurance Co. Ltd. acquired a new position in IonQ, Inc. (NYSE:IONQ - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,977 shares of the company's stock, valued at approximately $744,000.
Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in IonQ in the second quarter valued at $1,112,945,000. Vanguard Group Inc. lifted its position in IonQ by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company's stock worth $1,560,343,000 after buying an additional 5,420,037 shares in the last quarter. Norges Bank bought a new stake in IonQ during the 4th quarter worth about $199,753,000. Marex Group plc boosted its stake in shares of IonQ by 419.1% during the 4th quarter. Marex Group plc now owns 4,083,453 shares of the company's stock worth $183,225,000 after buying an additional 3,296,866 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of IonQ by 42.3% during the 4th quarter. State Street Corp now owns 8,962,789 shares of the company's stock worth $402,160,000 after buying an additional 2,663,230 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.
Insider Buying and Selling
In related news, insider John W. Raymond sold 3,815 shares of IonQ stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $209,863.15. Following the completion of the transaction, the insider owned 80,148 shares in the company, valued at approximately $4,408,941.48. This trade represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gabrielle B. Toledano sold 2,757 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total value of $151,662.57. Following the transaction, the director directly owned 11,154 shares in the company, valued at approximately $613,581.54. This trade represents a 19.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 9,329 shares of company stock worth $513,216. Company insiders own 0.55% of the company's stock.
Key Stories Impacting IonQ
Here are the key news stories impacting IonQ this week:
IonQ Price Performance
Shares of IONQ stock opened at $41.08 on Tuesday. The company has a fifty day moving average price of $43.96 and a two-hundred day moving average price of $43.22. IonQ, Inc. has a one year low of $25.89 and a one year high of $84.64. The stock has a market cap of $15.65 billion, a P/E ratio of -8.81 and a beta of 3.28.
IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.23. The company had revenue of $80.05 million for the quarter, compared to analyst estimates of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. IonQ's revenue for the quarter was up 286.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.70) EPS. As a group, equities research analysts anticipate that IonQ, Inc. will post -2.86 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on IONQ. Morgan Stanley set a $49.00 price objective on IonQ in a report on Thursday, August 6th. Needham & Company LLC reiterated a "buy" rating and set a $65.00 target price on shares of IonQ in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on IonQ from $42.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Wedbush assumed coverage on IonQ in a research note on Monday, August 3rd. They issued an "outperform" rating and a $75.00 price target for the company. Finally, Jefferies Financial Group set a $75.00 price target on IonQ in a research report on Thursday, August 6th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, IonQ currently has a consensus rating of "Moderate Buy" and an average target price of $69.92.
Read Our Latest Analysis on IonQ
IonQ Company Profile
(
Free Report)
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.
Read More

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider IonQ, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IonQ wasn't on the list.
While IonQ currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.