Penserra Capital Management LLC Boosts Stake in IonQ, Inc. (NYSE:IONQ)

Penserra Capital Management LLC raised its holdings in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 41.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 548,162 shares of the company's stock after acquiring an additional 159,440 shares during the quarter. Penserra Capital Management LLC owned approximately 0.25% of IonQ worth $12,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of IonQ by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,374,125 shares of the company's stock worth $892,797,000 after purchasing an additional 125,144 shares during the last quarter. Geode Capital Management LLC raised its holdings in IonQ by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,466,094 shares of the company's stock valued at $186,593,000 after acquiring an additional 45,942 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in IonQ by 1,310.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock valued at $103,095,000 after acquiring an additional 2,293,231 shares during the last quarter. Northern Trust Corp raised its holdings in IonQ by 12.6% in the 4th quarter. Northern Trust Corp now owns 1,934,625 shares of the company's stock valued at $80,809,000 after acquiring an additional 216,752 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in IonQ by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company's stock valued at $68,740,000 after acquiring an additional 31,638 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

IonQ Stock Up 0.9%

Shares of IONQ stock traded up $0.43 on Thursday, reaching $45.99. 19,455,746 shares of the stock were exchanged, compared to its average volume of 19,823,729. The stock has a market cap of $12.03 billion, a P/E ratio of -30.87 and a beta of 2.55. The firm has a 50 day moving average of $38.76 and a two-hundred day moving average of $34.13. IonQ, Inc. has a 1-year low of $6.22 and a 1-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) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. IonQ had a negative return on equity of 63.35% and a negative net margin of 753.20%. The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.51 million. During the same period in the prior year, the firm posted ($0.19) EPS. The business's revenue for the quarter was down .2% on a year-over-year basis. On average, equities research analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Activity

In related news, insider Peter Hume Chapman sold 1,497,311 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $39.93, for a total transaction of $59,787,628.23. Following the completion of the sale, the insider directly owned 390,329 shares of the company's stock, valued at approximately $15,585,836.97. This represents a 79.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wendy Thomas sold 16,696 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $39.43, for a total transaction of $658,323.28. Following the sale, the director directly owned 61,145 shares of the company's stock, valued at approximately $2,410,947.35. This trade represents a 21.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,094,201 shares of company stock worth $355,891,729 in the last quarter. Insiders own 5.20% of the company's stock.

Analyst Upgrades and Downgrades

IONQ has been the subject of several analyst reports. Cantor Fitzgerald initiated coverage on IonQ in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $45.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of IonQ in a report on Wednesday, June 11th. Morgan Stanley boosted their price target on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Benchmark boosted their price target on IonQ from $50.00 to $55.00 and gave the company a "buy" rating in a report on Monday. Finally, DA Davidson cut their price target on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $41.43.

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.