IonQ, Inc. $IONQ Shares Purchased by Rhumbline Advisers

Key Points

• Rhumbline Advisers increased its stake in IonQ by 6.6%, owning 323,930 shares valued at approximately $7.1 million as of its latest SEC filing.
• IonQ's stock price rose by 7.3%, reaching $47.07, while the company reported a negative earnings per share of ($0.70) for the latest quarter, significantly missing estimates.
• Insiders sold over 6.5 million shares of IonQ stock in the last ninety days, contributing to a 90.17% ownership decrease by a key insider while corporate insiders hold 5.20% of total shares.

Rhumbline Advisers lifted its holdings in IonQ, Inc. (NYSE:IONQ - Free Report) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 323,930 shares of the company's stock after acquiring an additional 20,127 shares during the quarter. Rhumbline Advisers owned 0.15% of IonQ worth $7,149,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IONQ. Nuveen LLC acquired a new stake in shares of IonQ in the first quarter worth $12,193,000. Deutsche Bank AG increased its stake in shares of IonQ by 255.8% in the first 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 during the period. Connor Clark & Lunn Investment Management Ltd. grew its position 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 buying an additional 467,084 shares during the period. Two Sigma Investments LP grew its position in IonQ by 700.0% during the fourth quarter. Two Sigma Investments LP now owns 476,017 shares of the company's stock valued at $19,883,000 after buying an additional 416,517 shares during the period. Finally, UNICOM Systems Inc. grew its position in IonQ by 77.4% during the first quarter. UNICOM Systems Inc. now owns 768,900 shares of the company's stock valued at $16,970,000 after buying an additional 335,429 shares during the period. Institutional investors and hedge funds own 41.42% of the company's stock.

IonQ Stock Up 7.3%

IONQ opened at $47.07 on Friday. The company has a market cap of $13.97 billion, a price-to-earnings ratio of -23.42 and a beta of 2.54. IonQ, Inc. has a 52-week low of $7.09 and a 52-week high of $54.74. The firm's fifty day simple moving average is $42.09 and its two-hundred day simple moving average is $34.85.

IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.57). The company had revenue of $20.69 million for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 81.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.18) earnings per share. On average, research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on IONQ shares. Cantor Fitzgerald started coverage on shares of IonQ in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $45.00 price target on the stock. DA Davidson lowered shares of IonQ from a "buy" rating to a "neutral" rating and set a $35.00 price target on the stock. in a research report on Thursday, August 7th. Rosenblatt Securities started coverage on shares of IonQ in a research report on Tuesday, July 29th. They set a "buy" rating and a $70.00 price target on the stock. B. Riley started coverage on shares of IonQ in a research report on Wednesday, August 27th. They set a "buy" rating and a $61.00 price target on the stock. Finally, Wolfe Research started coverage on shares of IonQ in a research report on Wednesday, July 30th. They set a "peer perform" rating on the stock. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.78.

Insider Buying and Selling at IonQ

In other news, insider Peter Hume Chapman sold 3,581,193 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $38.13, for a total value of $136,550,889.09. Following the transaction, the insider directly owned 390,329 shares of the company's stock, valued at approximately $14,883,244.77. This trade represents a 90.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thomas G. Kramer sold 216,000 shares of the firm's stock in a transaction dated 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 directly owned 718,516 shares in the company, valued at approximately $27,382,644.76. This represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,507,247 shares of company stock valued at $252,392,401 over the last ninety days. Corporate insiders own 5.20% of the company's stock.

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.

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