IonQ, Inc. $IONQ Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. lessened its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 13.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 104,930 shares of the company's stock after selling 16,333 shares during the period. Cibc World Market Inc.'s holdings in IonQ were worth $4,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of IONQ. Ameriflex Group Inc. raised its holdings in shares of IonQ by 485.7% during the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company's stock worth $25,000 after acquiring an additional 340 shares during the period. Accent Capital Management LLC raised its holdings in shares of IonQ by 171.8% during the 4th quarter. Accent Capital Management LLC now owns 587 shares of the company's stock worth $26,000 after acquiring an additional 371 shares during the period. Fortitude Family Office LLC raised its holdings in shares of IonQ by 3,800.0% during the 4th quarter. Fortitude Family Office LLC now owns 624 shares of the company's stock worth $28,000 after acquiring an additional 608 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in shares of IonQ by 117.4% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company's stock worth $31,000 after acquiring an additional 270 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of IonQ by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company's stock worth $36,000 after acquiring an additional 279 shares during the period. Hedge funds and other institutional investors own 41.42% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on IONQ. Weiss Ratings upgraded IonQ from a "sell (d-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. DA Davidson reduced their price target on IonQ from $55.00 to $35.00 and set a "neutral" rating on the stock in a report on Thursday, February 26th. Morgan Stanley set a $48.50 price objective on shares of IonQ in a report on Thursday, May 7th. Needham & Company LLC reduced their price objective on shares of IonQ from $80.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of IonQ from $42.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.63.

Insider Activity at IonQ

In related news, insider Robert T. Cardillo sold 3,773 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total value of $188,272.70. Following the sale, the insider owned 139,967 shares of the company's stock, valued at $6,984,353.30. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John W. Raymond sold 2,800 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.34, for a total transaction of $93,352.00. Following the completion of the sale, the insider directly owned 83,963 shares in the company, valued at approximately $2,799,326.42. This trade represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. 5.20% of the stock is owned by company insiders.

IonQ Stock Up 0.4%

Shares of NYSE:IONQ opened at $56.99 on Monday. The firm's 50 day moving average price is $47.17 and its 200 day moving average price is $44.16. The stock has a market cap of $21.27 billion, a price-to-earnings ratio of -203.53 and a beta of 3.18. IonQ, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $84.64.

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

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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