Gainplan LLC Invests $435,000 in IonQ, Inc. $IONQ

Key Points

• Gainplan LLC invested approximately $435,000 in IonQ, acquiring 10,125 shares during the second quarter, according to its latest SEC filing.
• A significant uptick in institutional investments was observed, with several firms like Vanguard Group and Deutsche Bank increasing their holdings in IonQ by notable percentages.
• IonQ's stock price opened at $79.35, reflecting a significant market cap of $23.55 billion, while analysts maintain a mixed consensus rating with a price target around $58.33.

Gainplan LLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,125 shares of the company's stock, valued at approximately $435,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of IonQ by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 21,497,964 shares of the company's stock worth $474,460,000 after buying an additional 123,839 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of IonQ by 101.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company's stock valued at $20,476,000 after acquiring an additional 467,084 shares during the period. UNICOM Systems Inc. increased its holdings in shares of IonQ by 77.4% in the 1st quarter. UNICOM Systems Inc. now owns 768,900 shares of the company's stock valued at $16,970,000 after acquiring an additional 335,429 shares during the period. Deutsche Bank AG increased its holdings in shares of IonQ by 255.8% in the 1st quarter. Deutsche Bank AG now owns 761,066 shares of the company's stock valued at $16,797,000 after acquiring an additional 547,155 shares during the period. Finally, Nuveen LLC acquired a new position in shares of IonQ in the 1st quarter valued at $12,193,000. Hedge funds and other institutional investors own 41.42% of the company's stock.

Insider Buying and Selling at IonQ

In related news, CRO Rima Alameddine sold 19,976 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $886,934.40. Following the sale, the executive directly owned 532,616 shares in the company, valued at $23,648,150.40. The trade was a 3.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert T. Cardillo sold 8,773 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $50.52, for a total transaction of $443,211.96. Following the completion of the sale, the insider owned 37,436 shares in the company, valued at $1,891,266.72. This represents a 18.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,665 shares of company stock worth $8,223,268. Company insiders own 5.20% of the company's stock.

IonQ Stock Up 0.4%

NYSE:IONQ opened at $79.35 on Wednesday. IonQ, Inc. has a fifty-two week low of $8.97 and a fifty-two week high of $82.97. The stock has a market cap of $23.55 billion, a PE ratio of -39.48 and a beta of 2.60. The firm's fifty day simple moving average is $50.90 and its 200-day simple moving average is $40.57.

IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.57). IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The company had revenue of $20.69 million for the quarter, compared to analyst estimates of $17.23 million. During the same period last year, the company earned ($0.18) earnings per share. The business's revenue for the quarter was up 81.6% compared to the same quarter last year. Equities analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $70.00 target price on shares of IonQ in a report on Monday, September 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of IonQ in a report on Saturday, September 27th. Needham & Company LLC lifted their target price on shares of IonQ from $60.00 to $80.00 and gave the company a "buy" rating in a report on Monday, September 15th. Wolfe Research initiated coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued a "peer perform" rating on the stock. Finally, Sanford C. Bernstein initiated coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued a "market perform" rating on the stock. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, IonQ has a consensus rating of "Hold" and a consensus price target of $58.33.

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.

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