Nuveen Asset Management LLC Increases Stock Position in IonQ, Inc. (NYSE:IONQ)

Nuveen Asset Management LLC increased its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 14.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 555,192 shares of the company's stock after buying an additional 71,168 shares during the period. Nuveen Asset Management LLC owned 0.26% of IonQ worth $23,190,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Measured Risk Portfolios Inc. bought a new stake in shares of IonQ during the 4th quarter worth about $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of IonQ by 28.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 139,434 shares of the company's stock worth $5,824,000 after buying an additional 30,460 shares during the period. Lazard Asset Management LLC bought a new stake in shares of IonQ during the 4th quarter worth about $303,000. Janus Henderson Group PLC boosted its holdings in shares of IonQ by 21.1% during the 4th quarter. Janus Henderson Group PLC now owns 85,941 shares of the company's stock worth $3,588,000 after buying an additional 15,000 shares during the period. Finally, Gotham Asset Management LLC bought a new stake in shares of IonQ during the 4th quarter worth about $474,000. Institutional investors own 41.42% of the company's stock.

IonQ Price Performance

Shares of IONQ stock traded down $0.15 on Friday, reaching $45.64. 53,689,313 shares of the company were exchanged, compared to its average volume of 17,516,754. The company has a 50-day moving average of $27.82 and a 200-day moving average of $31.88. The company has a market cap of $10.17 billion, a price-to-earnings ratio of -56.34 and a beta of 2.46. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.14. The firm had revenue of $7.57 million for the quarter, compared to the consensus estimate of $7.51 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The business's revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.19) earnings per share. As a group, sell-side analysts predict that IonQ, Inc. will post -0.86 EPS for the current year.

Insiders Place Their Bets

In other IonQ news, CFO Thomas G. Kramer sold 11,712 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $217,491.84. Following the completion of the transaction, the chief financial officer now owns 944,510 shares of the company's stock, valued at $17,539,550.70. The trade was a 1.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Rima Alameddine sold 1,407 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $21.20, for a total transaction of $29,828.40. Following the completion of the transaction, the executive now directly owns 592,615 shares of the company's stock, valued at approximately $12,563,438. This represents a 0.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. Company insiders own 11.60% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Benchmark reduced their target price on shares of IonQ from $45.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. DA Davidson cut their price objective on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th. Morgan Stanley boosted their price objective on shares of 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 cut their price objective on shares of IonQ from $54.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, IonQ has an average rating of "Moderate Buy" and a consensus target price of $38.33.

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.