Vontobel Holding Ltd. Has $1.56 Million Stock Holdings in IonQ, Inc. (NYSE:IONQ)

Vontobel Holding Ltd. lifted 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 (SEC). The fund owned 70,695 shares of the company's stock after buying an additional 8,677 shares during the period. Vontobel Holding Ltd.'s holdings in IonQ were worth $1,560,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its holdings in IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after purchasing an additional 501 shares during the period. Measured Risk Portfolios Inc. purchased a new stake in IonQ in the fourth quarter valued at approximately $27,000. TD Waterhouse Canada Inc. acquired a new position in IonQ during the fourth quarter valued at approximately $33,000. Sandy Spring Bank lifted its position in IonQ by 350.0% during the fourth quarter. Sandy Spring Bank now owns 900 shares of the company's stock valued at $38,000 after buying an additional 700 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in IonQ by 1,162.2% during the fourth quarter. Lindbrook Capital LLC now owns 934 shares of the company's stock valued at $39,000 after buying an additional 860 shares in the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IONQ has been the topic of a number of recent research reports. 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. Cantor Fitzgerald began coverage on shares of IonQ in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $45.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and set a $50.00 target price on shares of IonQ in a research report on Wednesday, June 11th. Benchmark reissued a "buy" rating and set a $50.00 target price on shares of IonQ in a research report on Wednesday, June 25th. Finally, Morgan Stanley boosted their target price on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $40.71.

IonQ Stock Up 0.4%

Shares of NYSE:IONQ traded up $0.18 on Monday, reaching $44.57. 26,991,431 shares of the company's stock were exchanged, compared to its average volume of 23,459,482. The firm has a market capitalization of $11.66 billion, a price-to-earnings ratio of -29.85 and a beta of 2.55. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74. The business's 50-day moving average is $37.72 and its two-hundred day moving average is $33.96.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.14. The business had revenue of $7.57 million during the quarter, compared to analyst estimates of $7.51 million. IonQ had a negative net margin of 753.20% and a negative return on equity of 63.35%. The company's quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. Analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Activity at IonQ

In other news, insider Peter Hume Chapman sold 3,581,193 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 390,329 shares of the company's stock, valued at $14,883,244.77. This represents a 90.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Rima Alameddine sold 65,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $38.57, for a total transaction of $2,507,050.00. Following the completion of the sale, the executive directly owned 552,592 shares of the company's stock, valued at $21,313,473.44. This trade represents a 10.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,972,201 shares of company stock worth $350,540,009. Company 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.