Livforsakringsbolaget Skandia Omsesidigt Increases Stock Holdings in IonQ, Inc. $IONQ

Key Points

• Livforsakringsbolaget Skandia Omsesidigt dramatically increased its IonQ stake by 2,086.8% in the first quarter, buying 43,823 additional shares and bringing its total to 45,923 shares valued at about $1.29 million.
• Other institutional investors also added to IonQ positions, and 41.42% of the stock is now owned by hedge funds and other institutions, signaling continued investor interest despite recent volatility.
• IonQ has faced recent pressure from a broader selloff in quantum stocks, while insiders also sold shares; however, analysts still see upside overall with a Moderate Buy consensus and an average price target of $69.88.

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in IonQ, Inc. (NYSE:IONQ - Free Report) by 2,086.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,923 shares of the company's stock after purchasing an additional 43,823 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in IonQ were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC increased its holdings in shares of IonQ by 7.8% during the 1st quarter. Sanctuary Advisors LLC now owns 40,404 shares of the company's stock worth $1,165,000 after buying an additional 2,915 shares during the last quarter. Sigma Planning Corp increased its position in shares of IonQ by 4.2% in the first quarter. Sigma Planning Corp now owns 10,607 shares of the company's stock worth $306,000 after acquiring an additional 424 shares in the last quarter. Bleakley Financial Group LLC increased its position in shares of IonQ by 39.0% in the first quarter. Bleakley Financial Group LLC now owns 28,340 shares of the company's stock worth $817,000 after acquiring an additional 7,949 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of IonQ by 14.9% in the 1st quarter. Chicago Partners Investment Group LLC now owns 6,231 shares of the company's stock valued at $180,000 after acquiring an additional 806 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of IonQ by 4.0% in the 1st quarter. International Assets Investment Management LLC now owns 17,676 shares of the company's stock valued at $492,000 after acquiring an additional 676 shares during the period. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ News Roundup

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: HSBC’s downgrade of IBM highlighted IonQ as one of the better alternative investments in a basket of tech stocks, which can support the bullish case for IONQ. IonQ and 3 More Stocks That Together Make a Better IBM
• Positive Sentiment: IonQ advanced its 256-qubit roadmap, including a new chip tape-out, a presold system, and a new quantum key distribution product launch, reinforcing the company’s long-term commercialization story. IonQ (IONQ) Could Be 19% Undervalued On Its 256 Qubit Roadmap Update
• Positive Sentiment: A new research partnership between the Jane Goodall Institute USA and FormationQ will use IonQ’s trapped-ion quantum computing, adding another visible real-world application for the platform. Jane Goodall Institute USA and FormationQ Launch First-of-its-kind Quantum Computing Research Programme
• Neutral Sentiment: Several articles noted that IonQ’s recent weakness is part of a broader selloff in quantum computing stocks, suggesting sector sentiment is still the main near-term driver. Why Investors Are Dumping This Quantum Stock for 9 Straight Days
• Neutral Sentiment: Commentary also pointed to Washington’s continued support for quantum technologies through executive actions and funding, which helps the industry backdrop but has not stopped IONQ’s pullback. IonQ Slides 36% in a Month: A Buying Opportunity Ahead of Q2 Earnings?
• Negative Sentiment: IonQ has been sliding for days, with investors dumping speculative growth names amid market pessimism and risk-off pressure, weighing on the stock. Why Investors Are Dumping This Quantum Stock for 9 Straight Days
• Negative Sentiment: Geopolitical तनाव and a broader move away from risk assets also pressured IonQ, adding to weakness in the quantum sector. IonQ Stock Dips Amid US-Iran Tensions, Bitcoin Plunge

Insiders Place Their Bets

In related news, insider John W. Raymond sold 3,815 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $55.01, for a total value of $209,863.15. Following the completion of the transaction, the insider owned 80,148 shares of the company's stock, valued at approximately $4,408,941.48. This represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gabrielle B. Toledano sold 2,757 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total value of $151,662.57. Following the sale, the director owned 11,154 shares of the company's stock, valued at approximately $613,581.54. This trade represents a 19.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,102 shares of company stock valued at $701,489 in the last three months. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on IONQ. Jefferies Financial Group set a $85.00 target price on shares of IonQ in a report on Thursday, May 7th. Morgan Stanley set a $48.50 price target on IonQ in a report on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on IonQ from $42.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Northland Securities boosted their price objective on IonQ from $55.00 to $70.00 and gave the stock an "outperform" rating in a research note on Monday, June 22nd. Finally, Weiss Ratings raised IonQ from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, IonQ presently has an average rating of "Moderate Buy" and a consensus target price of $69.88.

IonQ Trading Up 0.9%

IONQ opened at $39.24 on Wednesday. The company has a fifty day simple moving average of $55.51 and a 200 day simple moving average of $44.77. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of -140.13 and a beta of 3.23. IonQ, Inc. has a twelve month low of $25.89 and a twelve month high of $84.64.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The firm had revenue of $64.67 million for the quarter, compared to analysts' expectations of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The business's quarterly revenue was up 754.7% on a year-over-year basis. During the same period last year, the firm earned ($0.14) EPS. On average, analysts forecast that IonQ, Inc. will post -2.26 earnings per share for the current fiscal year.

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.

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