IonQ, Inc. (NYSE:IONQ) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its stake in IonQ, Inc. (NYSE:IONQ - Free Report) by 14.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,695 shares of the company's stock after buying an additional 8,677 shares during the quarter. Vontobel Holding Ltd.'s holdings in IonQ were worth $1,560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Verity Asset Management Inc. lifted its stake in IonQ by 67.6% in the 1st quarter. Verity Asset Management Inc. now owns 10,601 shares of the company's stock worth $234,000 after purchasing an additional 4,274 shares in the last quarter. McGuire Investment Group LLC lifted its stake in IonQ by 976.8% in the 1st quarter. McGuire Investment Group LLC now owns 69,993 shares of the company's stock worth $1,545,000 after purchasing an additional 63,493 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in IonQ by 54.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,735 shares of the company's stock worth $203,000 after purchasing an additional 3,068 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in IonQ by 23.0% in the 1st quarter. Perigon Wealth Management LLC now owns 10,667 shares of the company's stock worth $235,000 after purchasing an additional 1,993 shares in the last quarter. Finally, HBK Sorce Advisory LLC purchased a new position in IonQ in the 1st quarter worth approximately $404,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IONQ has been the topic of a number of research reports. Morgan Stanley raised 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. Cantor Fitzgerald initiated coverage on shares of IonQ in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $45.00 target price on the stock. Benchmark lifted their price target on shares of IonQ from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Monday. DA Davidson reduced their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price target on shares of IonQ in a research report on Wednesday, June 11th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.43.

IonQ Price Performance

Shares of IONQ stock traded down $0.11 during trading on Tuesday, hitting $45.09. 25,629,265 shares of the stock traded hands, compared to its average volume of 19,743,438. The firm has a market capitalization of $11.80 billion, a P/E ratio of -30.26 and a beta of 2.55. The firm's fifty day moving average price is $38.40 and its 200-day moving average price is $34.05. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.14. IonQ had a negative net margin of 753.20% and a negative return on equity of 63.35%. The firm had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.51 million. During the same quarter last year, the firm earned ($0.19) EPS. The firm's revenue for the quarter was down .2% on a year-over-year basis. As a group, equities research analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Transactions at IonQ

In related news, Director Wendy Thomas sold 16,696 shares of IonQ stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $39.43, for a total value of $658,323.28. Following the completion of the sale, the director owned 61,145 shares in the company, valued at approximately $2,410,947.35. This trade represents a 21.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Rima Alameddine sold 45,000 shares of IonQ stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $46.18, for a total transaction of $2,078,100.00. Following the completion of the sale, the executive owned 552,592 shares of the company's stock, valued at $25,518,698.56. This trade represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,094,201 shares of company stock worth $355,891,729 in the last three months. Company insiders own 5.20% of the company's stock.

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.