Neuberger Berman Group LLC Has $4.26 Million Position in IonQ, Inc. $IONQ

Key Points

• Neuberger Berman Group LLC increased its stake in IonQ by 30.5%, acquiring an additional 45,169 shares, bringing their total holdings to 193,127 shares worth approximately $4.26 million.
• Several institutional investors, including ORG Partners LLC and Farther Finance Advisors LLC, significantly boosted their positions in IonQ, with ownership among institutional investors reaching 41.42% of the company.
• IonQ's earnings report revealed a revenue increase of 81.6% year-over-year, but the company missed earnings expectations, reporting a loss of $0.70 per share compared to the consensus estimate of a loss of $0.13 per share.

Neuberger Berman Group LLC boosted its holdings in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 30.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 193,127 shares of the company's stock after purchasing an additional 45,169 shares during the period. Neuberger Berman Group LLC owned about 0.09% of IonQ worth $4,262,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd increased its position in IonQ by 52,789.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 110,538 shares of the company's stock worth $2,440,000 after buying an additional 110,329 shares during the last quarter. Russell Investments Group Ltd. boosted its position in IonQ by 242.4% in the first quarter. Russell Investments Group Ltd. now owns 19,217 shares of the company's stock valued at $424,000 after buying an additional 13,604 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of IonQ by 12.4% during the first quarter. Independent Advisor Alliance now owns 14,960 shares of the company's stock worth $330,000 after purchasing an additional 1,647 shares during the period. Nuveen LLC acquired a new position in shares of IonQ during the first quarter worth $12,193,000. Finally, American Alpha Advisors LLC acquired a new position in IonQ in the first quarter valued at $221,000. Institutional investors and hedge funds own 41.42% of the company's stock.

Insider Activity

In other news, CEO Masi Niccolo De sold 2,597,500 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $40.34, for a total value of $104,783,150.00. Following the completion of the transaction, the chief executive officer owned 711,987 shares in the company, valued at $28,721,555.58. This trade represents a 78.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Peter Hume Chapman sold 3,581,193 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $38.13, for a total transaction of $136,550,889.09. Following the transaction, the insider owned 390,329 shares of the company's stock, valued at $14,883,244.77. This trade represents a 90.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,209,626 shares of company stock worth $361,253,723 in the last 90 days. Corporate insiders own 5.20% of the company's stock.

IonQ Stock Up 0.0%

IonQ stock traded up $0.02 during trading on Monday, reaching $40.25. The stock had a trading volume of 6,173,741 shares, compared to its average volume of 22,860,846. IonQ, Inc. has a 52-week low of $6.54 and a 52-week high of $54.74. The business has a 50 day moving average price of $41.72 and a 200 day moving average price of $34.34. The stock has a market cap of $11.95 billion, a PE ratio of -20.04 and a beta of 2.54.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.57). The firm had revenue of $20.69 million during the quarter, compared to analysts' expectations of $17.23 million. IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%. The firm's revenue was up 81.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) EPS. On average, equities analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating on shares of IonQ in a report on Monday, August 4th. Morgan Stanley boosted 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. Benchmark upped their target price on shares of IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. DA Davidson cut shares of IonQ from a "buy" rating to a "neutral" rating and set a $35.00 price objective for the company. in a report on Thursday, August 7th. Finally, Wolfe Research started coverage on shares of IonQ in a report on Wednesday, July 30th. They set a "peer perform" rating for the company. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $45.00.

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.