IonQ, Inc. (NYSE:IONQ) Shares Sold by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC reduced its stake in IonQ, Inc. by 10% during the first quarter, now owning 101,349 shares valued at approximately $2.24 million.
• Company insiders have sold a total of 9,191,850 shares in the last ninety days, amounting to about $360.5 million.
• IonQ reported a quarterly loss of ($0.70) EPS, significantly missing the consensus estimate, but managed a revenue increase of 81.6% year-over-year, totaling $20.69 million.

Headlands Technologies LLC reduced its holdings in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 101,349 shares of the company's stock after selling 11,206 shares during the quarter. Headlands Technologies LLC's holdings in IonQ were worth $2,237,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. ORG Partners LLC boosted its holdings in shares of 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 acquiring an additional 870 shares during the period. Measured Risk Portfolios Inc. purchased a new position in IonQ during the 4th quarter worth $27,000. TD Waterhouse Canada Inc. acquired a new position in IonQ in the fourth quarter valued at $33,000. Future Financial Wealth Managment LLC raised its holdings 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 buying an additional 500 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of IonQ by 780.1% during the first quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock worth $34,000 after buying an additional 1,295 shares during the period. Hedge funds and other institutional investors own 41.42% of the company's stock.

IonQ Trading Down 2.0%

Shares of IonQ stock traded down $0.81 during mid-day trading on Thursday, hitting $40.42. 27,903,889 shares of the stock were exchanged, compared to its average volume of 19,698,210. IonQ, Inc. has a twelve month low of $6.54 and a twelve month high of $54.74. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of -20.11 and a beta of 2.54. The company has a 50-day simple moving average of $41.39 and a 200 day simple moving average of $34.37.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.57). IonQ had a negative net margin of 885.21% and a negative return on equity of 87.77%. The firm had revenue of $20.69 million during the quarter, compared to analyst estimates of $17.23 million. During the same period in the prior year, the firm earned ($0.18) earnings per share. The business's revenue for the quarter was up 81.6% on a year-over-year basis. Equities research analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on IONQ. Sanford C. Bernstein started coverage on IonQ in a research note on Wednesday, July 30th. They set a "market perform" rating for the company. Rosenblatt Securities assumed coverage on shares of IonQ in a research report on Tuesday, July 29th. They issued a "buy" rating and a $70.00 price objective on the stock. Morgan Stanley upped their price objective on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating on shares of IonQ in a report on Monday. Finally, Oppenheimer assumed coverage on IonQ in a report on Wednesday, July 30th. They issued an "outperform" rating on the stock. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $45.00.

Insider Buying and Selling

In related news, Director Kathryn K. Chou sold 6,789 shares of the business's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $43.14, for a total transaction of $292,877.46. Following the transaction, the director directly owned 60,839 shares of the company's stock, valued at approximately $2,624,594.46. The trade was a 10.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Peter Hume Chapman sold 1,497,311 shares of IonQ stock in a transaction that occurred 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 owned 390,329 shares in the company, valued at $15,585,836.97. This represents a 79.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,191,850 shares of company stock valued at $360,519,930. Corporate insiders own 5.20% of the company's stock.

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.