7,576 Shares in IonQ, Inc. (NYSE:IONQ) Purchased by Integrated Advisors Network LLC

Integrated Advisors Network LLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,576 shares of the company's stock, valued at approximately $316,000.

Several other large investors have also modified their holdings of IONQ. JPMorgan Chase & Co. boosted 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 worth $103,095,000 after buying an additional 2,293,231 shares during the period. Chevy Chase Trust Holdings LLC acquired a new stake in shares of IonQ in the fourth quarter valued at about $32,060,000. Ameriprise Financial Inc. acquired a new stake in shares of IonQ in the fourth quarter valued at about $29,519,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of IonQ in the fourth quarter valued at about $29,513,000. Finally, Invesco Ltd. increased its stake in IonQ by 439.3% during the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company's stock valued at $35,800,000 after acquiring an additional 698,146 shares during the period. 41.42% of the stock is owned by institutional investors.

Insider Transactions at IonQ

In related news, CRO Rima Alameddine sold 1,407 shares of IonQ stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $21.20, for a total transaction of $29,828.40. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas G. Kramer sold 11,712 shares of IonQ stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total transaction of $217,491.84. Following the transaction, the chief financial officer now directly owns 944,510 shares of the company's stock, valued at $17,539,550.70. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,033,166 shares of company stock worth $38,059,593. Company insiders own 11.60% of the company's stock.

IonQ Trading Down 6.6%

IonQ stock traded down $2.86 during mid-day trading on Friday, reaching $40.34. The company had a trading volume of 27,076,076 shares, compared to its average volume of 17,915,726. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74. The company has a market cap of $8.99 billion, a P/E ratio of -49.80 and a beta of 2.46. The business has a fifty day simple moving average of $29.94 and a 200 day simple moving average of $32.75.

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

Analysts Set New Price Targets

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

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.