Rakuten Securities Inc. Has $1.40 Million Stake in IonQ, Inc. (NYSE:IONQ)

Rakuten Securities Inc. lowered its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 29.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,190 shares of the company's stock after selling 26,856 shares during the quarter. Rakuten Securities Inc.'s holdings in IonQ were worth $1,395,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IONQ. Smartleaf Asset Management LLC lifted its stake in IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after purchasing an additional 501 shares during the last quarter. Measured Risk Portfolios Inc. bought a new position in IonQ during the 4th quarter worth $27,000. TD Waterhouse Canada Inc. acquired a new stake in IonQ during the 4th quarter worth about $33,000. Future Financial Wealth Managment LLC grew its holdings in IonQ by 50.0% during the 1st quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock worth $33,000 after acquiring an additional 500 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in IonQ by 780.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock worth $34,000 after acquiring an additional 1,295 shares during the period. Institutional investors and hedge funds own 41.42% of the company's stock.

Insider Activity at IonQ

In other IonQ news, CEO Masi Niccolo De sold 9,280 shares of IonQ stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $42.23, for a total transaction of $391,894.40. Following the transaction, the chief executive officer now owns 711,987 shares of the company's stock, valued at $30,067,211.01. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas G. Kramer sold 9,994 shares of IonQ stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $41.60, for a total transaction of $415,750.40. Following the transaction, the chief financial officer now directly owns 934,516 shares in the company, valued at approximately $38,875,865.60. This represents a 1.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,766,957 shares of company stock valued at $111,561,975. 5.20% of the stock is owned by corporate insiders.

IonQ Stock Performance

Shares of NYSE IONQ opened at $38.48 on Tuesday. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of -47.51 and a beta of 2.59. The firm's 50-day simple moving average is $33.54 and its 200 day simple moving average is $33.40.

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

Analyst Ratings Changes

IONQ has been the subject of a number of recent analyst reports. Benchmark increased their price target on IonQ from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Morgan Stanley raised their target price on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of IonQ in a research note on Wednesday, June 11th. Finally, DA Davidson reduced their target price on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.00.

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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