Private Advisor Group LLC Increases Holdings in IonQ, Inc. (NYSE:IONQ)

Private Advisor Group LLC increased its holdings in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 983.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 102,465 shares of the company's stock after acquiring an additional 93,008 shares during the period. Private Advisor Group LLC's holdings in IonQ were worth $2,261,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in shares of IonQ by 1,310.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock worth $103,095,000 after buying an additional 2,293,231 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of IonQ in the fourth quarter worth $29,519,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of IonQ in the fourth quarter worth $29,513,000. Invesco Ltd. grew its stake in shares of IonQ by 439.3% during the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company's stock worth $35,800,000 after purchasing an additional 698,146 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of IonQ by 475.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 688,764 shares of the company's stock worth $28,771,000 after purchasing an additional 569,061 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Price Performance

IonQ stock traded down $0.84 during mid-day trading on Friday, reaching $43.07. The company had a trading volume of 13,333,273 shares, compared to its average volume of 20,775,624. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The company has a market capitalization of $11.27 billion, a P/E ratio of -28.90 and a beta of 2.55. The stock's 50-day simple moving average is $41.70 and its 200-day simple moving average is $33.99.

IonQ (NYSE:IONQ - Get Free Report) last issued 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 net margin of 753.20% and a negative return on equity of 63.35%. The business had revenue of $7.57 million during the quarter, compared to analysts' expectations of $7.51 million. During the same period last year, the company posted ($0.19) EPS. The company's revenue was down .2% on a year-over-year basis. On average, equities analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling at IonQ

In other news, CFO Thomas G. Kramer sold 216,000 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $38.11, for a total transaction of $8,231,760.00. Following the completion of the sale, the chief financial officer directly owned 718,516 shares in the company, valued at $27,382,644.76. This represents a 23.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Masi Niccolo De sold 2,597,500 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $40.34, for a total transaction of $104,783,150.00. Following the sale, the chief executive officer directly owned 711,987 shares of the company's stock, valued at approximately $28,721,555.58. This trade represents a 78.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,191,850 shares of company stock valued at $360,519,930. Company insiders own 5.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IONQ shares. Benchmark increased 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. Morgan Stanley increased their target price 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. Needham & Company LLC reiterated a "buy" rating and set a $50.00 target price on shares of IonQ in a research note on Wednesday, June 11th. Cantor Fitzgerald started coverage on shares of IonQ in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $45.00 target price for the company. Finally, DA Davidson decreased their target price on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $41.43.

IonQ Company 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.