IonQ, Inc. (NYSE:IONQ) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 32.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,476 shares of the company's stock after acquiring an additional 6,717 shares during the period. Janney Montgomery Scott LLC's holdings in IonQ were worth $606,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of IonQ by 1,310.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock worth $103,095,000 after buying an additional 2,293,231 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in IonQ in the 4th quarter worth $29,519,000. Arrowstreet Capital Limited Partnership acquired a new stake in IonQ during the 4th quarter worth about $29,513,000. Invesco Ltd. grew its stake in IonQ by 439.3% during the 4th quarter. Invesco Ltd. now owns 857,078 shares of the company's stock valued at $35,800,000 after purchasing an additional 698,146 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in IonQ by 475.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 688,764 shares of the company's stock valued at $28,771,000 after purchasing an additional 569,061 shares during the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

IonQ Stock Down 1.8%

IonQ stock traded down $0.81 during mid-day trading on Thursday, reaching $43.94. 13,345,323 shares of the company's stock were exchanged, compared to its average volume of 19,542,918. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The company has a fifty day moving average of $37.11 and a 200-day moving average of $34.00. The company has a market cap of $11.50 billion, a P/E ratio of -29.49 and a beta of 2.55.

IonQ (NYSE:IONQ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $7.51 million. During the same period in the prior year, the firm earned ($0.19) earnings per share. The business's quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. DA Davidson decreased their target price on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Cantor Fitzgerald started coverage on IonQ in a research note on Wednesday. They set an "overweight" rating and a $45.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $50.00 price objective on shares of IonQ in a research report on Wednesday, June 11th. Morgan Stanley raised their target price on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Finally, Benchmark reaffirmed a "buy" rating and set a $50.00 target price on shares of IonQ in a report on Wednesday, June 25th. Two investment 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 a consensus rating of "Moderate Buy" and an average target price of $40.71.

Insider Buying and Selling at IonQ

In related news, CEO Masi Niccolo De sold 2,597,500 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $40.34, for a total value of $104,783,150.00. Following the completion of the sale, the chief executive officer directly owned 711,987 shares of the company's stock, valued at $28,721,555.58. This represents a 78.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wendy Thomas sold 16,696 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $39.43, for a total value of $658,323.28. Following the transaction, the director owned 61,145 shares in the company, valued at $2,410,947.35. This represents a 21.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,972,201 shares of company stock worth $350,540,009. 5.20% of the stock is owned by insiders.

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.