IonQ, Inc. $IONQ is Lansdowne Partners UK LLP's 10th Largest Position

Key Points

• Lansdowne Partners UK LLP has significantly reduced its position in IonQ, Inc. by 50.7%, now holding approximately 493,785 shares, making it the 10th largest position in its portfolio.
• IonQ’s quarterly earnings report showed a loss of ($0.70) earnings per share, missing expectations by $0.57, despite revenues increasing by 81.6% year-over-year.
• Several institutional investors, including Vanguard Group and Deutsche Bank, have increased their stakes in IonQ, indicating a growing interest in the company among hedge funds.

Lansdowne Partners UK LLP trimmed its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 50.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 493,785 shares of the company's stock after selling 507,728 shares during the quarter. IonQ makes up approximately 1.5% of Lansdowne Partners UK LLP's investment portfolio, making the stock its 10th largest position. Lansdowne Partners UK LLP owned about 0.22% of IonQ worth $10,898,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in IonQ by 0.6% during the first 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. Northern Trust Corp lifted its stake in IonQ by 12.6% during the 4th quarter. Northern Trust Corp now owns 1,934,625 shares of the company's stock worth $80,809,000 after acquiring an additional 216,752 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in IonQ by 101.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company's stock worth $20,476,000 after acquiring an additional 467,084 shares in the last quarter. UNICOM Systems Inc. lifted its stake in IonQ by 77.4% during the 1st quarter. UNICOM Systems Inc. now owns 768,900 shares of the company's stock worth $16,970,000 after acquiring an additional 335,429 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in IonQ by 255.8% during the 1st quarter. Deutsche Bank AG now owns 761,066 shares of the company's stock worth $16,797,000 after acquiring an additional 547,155 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

Analyst Ratings Changes

IONQ has been the topic of several recent research reports. Needham & Company LLC restated a "buy" rating on shares of IonQ in a report on Monday, August 4th. Cantor Fitzgerald assumed coverage on IonQ in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $45.00 price target on the stock. Oppenheimer assumed coverage on IonQ in a research note on Wednesday, July 30th. They set an "outperform" rating on the stock. B. Riley assumed coverage on IonQ in a research note on Wednesday. They set a "buy" rating and a $61.00 price target on the stock. Finally, Wolfe Research began coverage on IonQ in a research report on Wednesday, July 30th. They set a "peer perform" rating for the company. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, IonQ currently has an average rating of "Moderate Buy" and a consensus price target of $46.78.

IonQ Price Performance

IONQ opened at $41.41 on Thursday. IonQ, Inc. has a 12 month low of $6.54 and a 12 month high of $54.74. The stock has a market capitalization of $12.29 billion, a P/E ratio of -20.60 and a beta of 2.54. The business has a 50 day simple moving average of $41.71 and a 200-day simple moving average of $34.31.

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 67.11%. The firm had revenue of $20.69 million during the quarter, compared to analysts' expectations of $17.23 million. During the same period in the previous year, the business earned ($0.18) earnings per share. The business's revenue for the quarter was up 81.6% on a year-over-year basis. Research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Insider Buying and Selling

In other IonQ news, CFO Thomas G. Kramer sold 216,000 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $38.11, for a total transaction of $8,231,760.00. Following the completion of the transaction, the chief financial officer owned 718,516 shares of the company's stock, valued at approximately $27,382,644.76. This trade represents a 23.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Masi Niccolo De sold 2,597,500 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $40.34, for a total value of $104,783,150.00. Following the transaction, the chief executive officer directly owned 711,987 shares of the company's stock, valued at $28,721,555.58. The trade was a 78.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,209,626 shares of company stock worth $361,253,723. 5.20% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding IONQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IonQ, Inc. (NYSE:IONQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.