HBK Sorce Advisory LLC Purchases Shares of 18,289 IonQ, Inc. (NYSE:IONQ)

HBK Sorce Advisory LLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 18,289 shares of the company's stock, valued at approximately $404,000.

Several other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC grew its holdings in IonQ by 348.0% in the first quarter. ORG Partners LLC now owns 1,120 shares of the company's stock valued at $26,000 after purchasing an additional 870 shares during the period. Smartleaf Asset Management LLC increased its holdings in IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after acquiring an additional 501 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new position in IonQ during the fourth quarter worth $27,000. TD Waterhouse Canada Inc. purchased a new position in IonQ in the 4th quarter valued at about $33,000. Finally, Future Financial Wealth Managment LLC lifted its position in shares of IonQ by 50.0% in the first quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock valued at $33,000 after acquiring an additional 500 shares in the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

IonQ Price Performance

Shares of NYSE IONQ opened at $41.06 on Friday. The stock's 50-day moving average is $35.80 and its two-hundred day moving average is $33.71. The company has a market cap of $10.74 billion, a price-to-earnings ratio of -27.55 and a beta of 2.59. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. IonQ had a negative net margin of 753.20% and a negative return on equity of 63.35%. The firm had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. During the same period in the prior year, the firm earned ($0.19) earnings per share. The business's quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Peter Hume Chapman sold 1,497,311 shares of IonQ stock in a transaction on Friday, June 20th. The shares were sold at an average price of $39.93, for a total transaction of $59,787,628.23. Following the sale, the insider now directly owns 390,329 shares in the company, valued at $15,585,836.97. This trade represents a 79.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gabrielle B. Toledano sold 792 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $41.50, for a total transaction of $32,868.00. Following the completion of the sale, the director now directly owns 792 shares of the company's stock, valued at approximately $32,868. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,972,201 shares of company stock valued at $350,540,009 in the last ninety days. Insiders own 5.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IONQ shares. DA Davidson lowered their target price on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 target price on shares of IonQ in a research note on Wednesday, June 11th. Benchmark restated a "buy" rating and set a $50.00 price target on shares of IonQ in a research report on Wednesday. Finally, Morgan Stanley lifted their price objective on shares of IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $40.00.

About IonQ

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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