Gotham Asset Management LLC Buys Shares of 11,357 IonQ, Inc. (NYSE:IONQ)

Gotham Asset Management LLC purchased a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,357 shares of the company's stock, valued at approximately $474,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of IonQ by 1,310.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock valued at $103,095,000 after buying an additional 2,293,231 shares during the last quarter. Chevy Chase Trust Holdings LLC acquired a new position in IonQ in the 4th quarter valued at $32,060,000. Ameriprise Financial Inc. acquired a new position in IonQ in the 4th quarter valued at $29,519,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of IonQ during the 4th quarter worth $29,513,000. Finally, Invesco Ltd. boosted its holdings in shares of IonQ by 439.3% during the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company's stock worth $35,800,000 after purchasing an additional 698,146 shares during the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IONQ. DA Davidson decreased their price target on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Morgan Stanley lifted their price objective on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Benchmark decreased their price target on shares of IonQ from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Needham & Company LLC decreased their target price on shares of IonQ from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.33.

Insider Buying and Selling

In other IonQ news, CRO Rima Alameddine sold 1,407 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $21.20, for a total value of $29,828.40. Following the transaction, the executive now owns 592,615 shares of the company's stock, valued at $12,563,438. This trade represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas G. Kramer sold 11,712 shares of IonQ stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $217,491.84. Following the completion of the transaction, the chief financial officer now owns 944,510 shares of the company's stock, valued at approximately $17,539,550.70. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,033,166 shares of company stock worth $38,059,593 over the last ninety days. 11.60% of the stock is owned by insiders.

IonQ Stock Down 5.0%

Shares of IONQ traded down $1.77 during midday trading on Wednesday, hitting $33.54. The company had a trading volume of 21,289,760 shares, compared to its average volume of 16,801,225. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of -41.41 and a beta of 2.46. The company's 50 day moving average price is $26.77 and its 200 day moving average price is $31.43. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.14. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The firm had revenue of $7.57 million during the quarter, compared to analyst estimates of $7.51 million. During the same period in the previous year, the company earned ($0.19) earnings per share. IonQ's quarterly revenue was down .2% on a year-over-year basis. Equities analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal 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.