IonQ, Inc. $IONQ Position Increased by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its holdings in IonQ, Inc. by 21.4%, now owning 47,000 shares worth approximately $2,020,000.
• Recent insider transactions show CEO Masi Niccolo De sold 16,120 shares and CRO Rima Alameddine sold 19,976 shares, reflecting a decrease in their respective positions.
• IonQ reported a loss of $0.70 EPS for the last quarter, significantly below analysts' expectations, despite experiencing an 81.6% year-over-year revenue growth.

KLP Kapitalforvaltning AS raised its holdings in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 21.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,000 shares of the company's stock after purchasing an additional 8,300 shares during the period. KLP Kapitalforvaltning AS's holdings in IonQ were worth $2,020,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in IONQ. Nuveen LLC bought a new stake in IonQ during the first quarter valued at $12,193,000. Deutsche Bank AG increased its stake in IonQ by 255.8% during the first quarter. Deutsche Bank AG now owns 761,066 shares of the company's stock valued at $16,797,000 after purchasing an additional 547,155 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in IonQ by 101.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company's stock valued at $20,476,000 after purchasing an additional 467,084 shares during the last quarter. UNICOM Systems Inc. grew its position in shares of IonQ by 77.4% during the first 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 during the last quarter. Finally, Quantitative Investment Management LLC bought a new position in shares of IonQ during the first quarter worth about $5,678,000. Institutional investors own 41.42% of the company's stock.

Insider Transactions at IonQ

In related news, CEO Masi Niccolo De sold 16,120 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $715,728.00. Following the completion of the transaction, the chief executive officer owned 1,181,186 shares in the company, valued at $52,444,658.40. This represents a 1.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Rima Alameddine sold 19,976 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $886,934.40. Following the completion of the transaction, the executive owned 532,616 shares of the company's stock, valued at $23,648,150.40. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 178,876 shares of company stock worth $7,930,390 over the last ninety days. Insiders own 5.20% of the company's stock.

IonQ Stock Down 8.5%

Shares of IONQ opened at $70.88 on Monday. The firm has a 50-day moving average price of $53.00 and a 200 day moving average price of $41.71. The firm has a market capitalization of $21.04 billion, a PE ratio of -35.26 and a beta of 2.60. IonQ, Inc. has a 52-week low of $9.62 and a 52-week high of $82.97.

IonQ (NYSE:IONQ - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.57). The company had revenue of $20.69 million during the quarter, compared to the consensus estimate of $17.23 million. IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. The business's quarterly revenue was up 81.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. On average, equities analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

Analyst Upgrades and Downgrades

IONQ has been the subject of several recent research reports. Weiss Ratings restated a "sell (d-)" rating on shares of IonQ in a research report on Wednesday, October 8th. Wolfe Research initiated coverage on shares of IonQ in a research report on Wednesday, July 30th. They set a "peer perform" rating for the company. Sanford C. Bernstein initiated coverage on shares of IonQ in a research report on Wednesday, July 30th. They set a "market perform" rating for the company. Oppenheimer initiated coverage on shares of IonQ in a research report on Wednesday, July 30th. They set an "outperform" rating for the company. Finally, Benchmark upped their price target on shares of IonQ from $55.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $58.33.

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.

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