IonQ, Inc. (NYSE:IONQ) Position Increased by Vontobel Holding Ltd.

Vontobel Holding Ltd. increased its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 14.0% in the 1st 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 purchasing an additional 8,677 shares during the period. Vontobel Holding Ltd.'s holdings in IonQ were worth $1,560,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of IONQ. ORG Partners LLC increased its holdings in shares of IonQ by 348.0% during the 1st quarter. ORG Partners LLC now owns 1,120 shares of the company's stock worth $26,000 after buying an additional 870 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after buying an additional 501 shares during the last quarter. Measured Risk Portfolios Inc. acquired a new stake in shares of IonQ during the 4th quarter worth $27,000. TD Waterhouse Canada Inc. acquired a new stake in shares of IonQ during the 4th quarter worth $33,000. Finally, Future Financial Wealth Managment LLC increased its holdings in shares of IonQ by 50.0% during the 1st quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock worth $33,000 after buying an additional 500 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Stock Performance

Shares of NYSE:IONQ traded down $0.81 during trading hours on Friday, hitting $43.94. The stock had a trading volume of 13,345,323 shares, compared to its average volume of 19,603,861. The stock's fifty day simple moving average is $37.72 and its 200 day simple moving average is $33.99. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of -29.49 and a beta of 2.55.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) EPS 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 company had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. During the same quarter last year, the business earned ($0.19) earnings per share. IonQ's revenue was down .2% compared to the same quarter last year. As a group, research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Cantor Fitzgerald started coverage on IonQ in a report on Wednesday. They set an "overweight" rating and a $45.00 price objective for the company. Benchmark reissued a "buy" rating and issued a $50.00 price objective on shares of IonQ in a research report on Wednesday, June 25th. 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. 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. Finally, Morgan Stanley increased their price objective 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $40.71.

Insiders Place Their Bets

In other news, Director Kathryn K. Chou sold 25,696 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $40.46, for a total value of $1,039,660.16. Following the completion of the transaction, the director directly owned 62,115 shares in the company, valued at $2,513,172.90. This trade represents a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas G. Kramer sold 216,000 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were 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 owned 718,516 shares of the company's stock, valued at $27,382,644.76. This trade represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,972,201 shares of company stock valued at $350,540,009. 5.20% of the stock is currently owned by insiders.

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.