IonQ, Inc. (NYSE:IONQ) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 323,930 shares of the company's stock after acquiring an additional 20,127 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of IonQ worth $7,149,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of IonQ by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,374,125 shares of the company's stock worth $892,797,000 after purchasing an additional 125,144 shares in the last quarter. Geode Capital Management LLC grew its stake in IonQ by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 4,466,094 shares of the company's stock worth $186,593,000 after buying an additional 45,942 shares during the last quarter. JPMorgan Chase & Co. increased its position in IonQ by 1,310.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock valued at $103,095,000 after buying an additional 2,293,231 shares in the last quarter. Northern Trust Corp raised its stake in IonQ by 12.6% in the fourth quarter. Northern Trust Corp now owns 1,934,625 shares of the company's stock valued at $80,809,000 after buying an additional 216,752 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in IonQ by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company's stock worth $68,740,000 after acquiring an additional 31,638 shares in the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other IonQ news, CEO Masi Niccolo De sold 9,280 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $42.23, for a total transaction of $391,894.40. Following the sale, the chief executive officer now directly owns 711,987 shares of the company's stock, valued at approximately $30,067,211.01. This trade represents a 1.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is currently owned by corporate insiders.

IonQ Stock Down 2.3%

Shares of NYSE:IONQ traded down $0.91 during trading on Thursday, hitting $38.79. The stock had a trading volume of 19,992,155 shares, compared to its average volume of 18,590,532. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of -47.89 and a beta of 2.59. The stock has a 50-day simple moving average of $32.54 and a two-hundred day simple moving average of $33.27.

IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The company had revenue of $7.57 million during the quarter, compared to analyst estimates of $7.51 million. During the same period last year, the firm posted ($0.19) EPS. IonQ's revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IONQ. Needham & Company LLC restated a "buy" rating and set a $50.00 price target on shares of IonQ in a research note on Wednesday. Morgan Stanley lifted their target price on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Benchmark upped their price target on shares of IonQ from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, DA Davidson decreased their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, IonQ presently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

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.