Eurizon Capital SGR S.p.A. Takes $13.01 Million Position in IonQ, Inc. $IONQ

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in IonQ during the fourth quarter, buying 289,857 shares worth about $13.01 million, according to its latest SEC filing.
• IonQ continues to attract major institutional interest, with firms like Vanguard, Geode Capital Management, State Street, JPMorgan, and Northern Trust all increasing their holdings; institutions now own 41.42% of the company.
• The company reported mixed quarterly results, posting a loss of $0.34 per share versus expectations for a smaller loss, but revenue rose 754.7% year over year to $64.67 million. Analysts currently rate the stock a Moderate Buy with an average price target of $68.63.

Eurizon Capital SGR S.p.A. purchased a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 289,857 shares of the company's stock, valued at approximately $13,007,000. Eurizon Capital SGR S.p.A. owned 0.08% of IonQ as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in IonQ by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company's stock worth $1,560,343,000 after purchasing an additional 5,420,037 shares during the last quarter. Geode Capital Management LLC boosted its holdings in IonQ by 21.9% during the fourth quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company's stock worth $361,624,000 after purchasing an additional 1,452,463 shares during the last quarter. State Street Corp boosted its holdings in IonQ by 19.9% during the third quarter. State Street Corp now owns 6,299,559 shares of the company's stock worth $387,423,000 after purchasing an additional 1,043,878 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in IonQ by 12.5% during the third quarter. JPMorgan Chase & Co. now owns 3,008,001 shares of the company's stock worth $184,992,000 after purchasing an additional 333,653 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in IonQ by 30.3% during the third quarter. Northern Trust Corp now owns 2,737,026 shares of the company's stock worth $168,327,000 after purchasing an additional 636,482 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

IonQ Trading Down 0.0%

NYSE IONQ opened at $72.07 on Monday. The firm's fifty day moving average price is $43.76 and its two-hundred day moving average price is $43.55. IonQ, Inc. has a 1 year low of $25.89 and a 1 year high of $84.64. The firm has a market capitalization of $26.90 billion, a P/E ratio of -257.38 and a beta of 3.18.

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

Insider Buying and Selling at IonQ

In other IonQ news, insider John W. Raymond sold 2,800 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $33.34, for a total transaction of $93,352.00. Following the sale, the insider directly owned 83,963 shares of the company's stock, valued at approximately $2,799,326.42. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert T. Cardillo sold 3,773 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the sale, the insider directly owned 139,967 shares in the company, valued at $6,984,353.30. This trade represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on IONQ. Rosenblatt Securities restated a "buy" rating and set a $100.00 target price on shares of IonQ in a report on Thursday, February 26th. Benchmark reduced their target price on shares of IonQ from $75.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Weiss Ratings upgraded shares of IonQ from a "sell (d-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Wedbush restated an "outperform" rating and set a $60.00 target price on shares of IonQ in a report on Monday, May 4th. Finally, Jefferies Financial Group set a $85.00 target price on shares of IonQ in a report on Thursday, May 7th. Ten 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $68.63.

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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