Man Group plc Invests $8.30 Million in IonQ, Inc. (NYSE:IONQ)

Man Group plc acquired a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 198,695 shares of the company's stock, valued at approximately $8,299,000. Man Group plc owned approximately 0.09% of IonQ as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. PDS Planning Inc boosted its position in shares of IonQ by 2.6% during the 4th quarter. PDS Planning Inc now owns 11,829 shares of the company's stock worth $494,000 after acquiring an additional 300 shares in the last quarter. Mariner LLC boosted its position in shares of IonQ by 0.6% during the 4th quarter. Mariner LLC now owns 54,479 shares of the company's stock worth $2,276,000 after acquiring an additional 350 shares in the last quarter. Allworth Financial LP boosted its position in shares of IonQ by 15.2% during the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company's stock worth $116,000 after acquiring an additional 363 shares in the last quarter. Smartleaf Asset Management LLC boosted its position 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 acquiring an additional 501 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in shares of IonQ during the 4th quarter worth about $26,000. 41.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IONQ. DA Davidson reduced their target price on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th. Benchmark reduced their target price on IonQ from $45.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Morgan Stanley boosted their target price on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Finally, Needham & Company LLC reduced their target price on IonQ from $54.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.33.

Insiders Place Their Bets

In other news, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the transaction, the insider now directly owns 414,363 shares of the company's stock, valued at approximately $7,756,875.36. This represents a 82.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William F. Scannell bought 93,066 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the purchase, the director now owns 135,047 shares in the company, valued at approximately $2,945,375.07. This represents a 221.69% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is owned by company insiders.

IonQ Trading Up 0.3%

IonQ stock opened at $35.10 on Tuesday. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The stock has a 50 day moving average of $26.49 and a two-hundred day moving average of $31.41. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of -43.33 and a beta of 2.46.

IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly earnings data 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 return on equity of 36.82% and a negative net margin of 457.85%. The company had revenue of $7.57 million during the quarter, compared to analysts' expectations of $7.51 million. During the same period last year, the firm earned ($0.19) EPS. The firm's revenue for the quarter was down .2% on a year-over-year basis. Equities analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current year.

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.

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