IonQ, Inc. $IONQ Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management increased its IonQ position by 36.2% in the fourth quarter, buying 28,599 additional shares and bringing its total to 107,639 shares worth about $4.83 million.
• Other major institutional investors also boosted their holdings, including Vanguard, Geode Capital Management, and State Street, while institutions and hedge funds now own 41.42% of IonQ shares.
• IonQ’s latest earnings missed EPS estimates but beat on revenue, and analysts currently have a Moderate Buy consensus with an average price target of $68.63, though several firms recently trimmed targets.

Intech Investment Management LLC lifted its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 36.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 107,639 shares of the company's stock after buying an additional 28,599 shares during the quarter. Intech Investment Management LLC's holdings in IonQ were worth $4,830,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of IonQ by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company's stock worth $1,560,343,000 after buying an additional 5,420,037 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of IonQ by 21.9% during the 4th quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company's stock worth $361,624,000 after buying an additional 1,452,463 shares during the last quarter. State Street Corp raised its stake in shares of IonQ by 19.9% during the 3rd quarter. State Street Corp now owns 6,299,559 shares of the company's stock worth $387,423,000 after buying an additional 1,043,878 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of IonQ by 12.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,008,001 shares of the company's stock worth $184,992,000 after buying an additional 333,653 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of IonQ by 30.3% during the 3rd quarter. Northern Trust Corp now owns 2,737,026 shares of the company's stock worth $168,327,000 after buying an additional 636,482 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

Insider Transactions at IonQ

In other news, insider Robert T. Cardillo sold 3,773 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total transaction of $188,272.70. Following the completion of the transaction, the insider owned 139,967 shares of the company's stock, valued at $6,984,353.30. This represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John W. Raymond sold 2,800 shares of the company's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $33.34, for a total transaction of $93,352.00. Following the transaction, the insider directly owned 83,963 shares of the company's stock, valued at approximately $2,799,326.42. This represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.20% of the company's stock.

IonQ Price Performance

NYSE IONQ opened at $72.07 on Monday. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64. The company has a 50-day moving average of $43.76 and a 200-day moving average of $43.55. The company has a market cap of $26.90 billion, a P/E ratio of -257.38 and a beta of 3.18.

IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.08). IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The company had revenue of $64.67 million for the quarter, compared to analyst estimates of $49.75 million. During the same period in the prior year, the company earned ($0.14) EPS. The company's revenue was up 754.7% compared to the same quarter last year. As a group, equities research analysts anticipate that IonQ, Inc. will post -2.26 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen raised IonQ from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 23rd. DA Davidson cut their price target on IonQ from $55.00 to $35.00 and set a "neutral" rating for the company in a research note on Thursday, February 26th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of IonQ in a research note on Monday, February 9th. Needham & Company LLC cut their price target on IonQ from $80.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $100.00 target price on shares of IonQ in a research note on Thursday, February 26th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, IonQ currently has an average rating of "Moderate Buy" and a consensus target price of $68.63.

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.

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