Deutsche Bank AG Makes New $27.84 Million Investment in IonQ, Inc. $IONQ

Key Points

• Deutsche Bank acquired 522,644 IonQ shares during the second quarter, valued at approximately $27.84 million and representing 0.14% of the company. Institutional investors collectively own 41.42% of IonQ.
• Analyst sentiment remains generally positive, with nine Buy ratings, four Holds, and one Sell. IonQ has a consensus rating of “Moderate Buy” and an average price target of $69.92.
• IonQ reported stronger-than-expected quarterly results, posting a $0.33 adjusted loss per share versus the $0.56 expected and revenue of $80.05 million, up 286.7% year over year. Despite the growth, the company remains deeply unprofitable, with a negative net margin of 553.27%.

Deutsche Bank AG acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 522,644 shares of the company's stock, valued at approximately $27,836,000. Deutsche Bank AG owned 0.14% of IonQ as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in IONQ. Swedbank AB bought a new stake in IonQ during the 4th quarter worth approximately $2,708,000. Jefferies Financial Group Inc. bought a new position in IonQ in the 4th quarter valued at $3,271,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in IonQ by 96.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 125,556 shares of the company's stock worth $3,620,000 after purchasing an additional 61,656 shares in the last quarter. ProShare Advisors LLC boosted its stake in IonQ by 30.3% in the fourth quarter. ProShare Advisors LLC now owns 62,184 shares of the company's stock worth $2,790,000 after purchasing an additional 14,465 shares in the last quarter. Finally, Simplicity Wealth LLC bought a new stake in shares of IonQ during the second quarter worth $981,000. Institutional investors and hedge funds own 41.42% of the company's stock.

Insiders Place Their Bets

In related news, insider John W. Raymond sold 3,815 shares of the company's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total value of $209,863.15. Following the completion of the sale, the insider owned 80,148 shares in the company, valued at $4,408,941.48. This represents a 4.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gabrielle B. Toledano sold 2,757 shares of the company's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total transaction of $151,662.57. Following the completion of the sale, the director owned 11,154 shares of the company's stock, valued at approximately $613,581.54. This represents a 19.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 9,329 shares of company stock worth $513,216. Insiders own 0.55% of the company's stock.

Analyst Ratings Changes

IONQ has been the subject of a number of research reports. Morgan Stanley set a $49.00 target price on IonQ in a research note on Thursday, August 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of IonQ in a report on Friday, August 7th. Wall Street Zen cut shares of IonQ from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Northland Securities boosted their target price on shares of IonQ from $55.00 to $70.00 and gave the stock an "outperform" rating in a research note on Monday, June 22nd. Finally, Jefferies Financial Group set a $75.00 target price on shares of IonQ in a research report on Thursday, August 6th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.92.

IonQ Stock Performance

IONQ opened at $44.95 on Friday. The company has a fifty day moving average price of $44.36 and a two-hundred day moving average price of $43.17. IonQ, Inc. has a 52 week low of $25.89 and a 52 week high of $84.64. The firm has a market capitalization of $17.13 billion, a PE ratio of -9.65 and a beta of 3.28.

IonQ (NYSE:IONQ - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.23. The company had revenue of $80.05 million during the quarter, compared to analysts' expectations of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. The business's revenue for the quarter was up 286.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.70) EPS. Equities analysts forecast that IonQ, Inc. will post -2.86 EPS for the current year.

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. 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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