UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $15.15 Million Holdings in IonQ, Inc. (NYSE:IONQ)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 29.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 362,603 shares of the company's stock after buying an additional 82,499 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.17% of IonQ worth $15,146,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. PDS Planning Inc boosted its stake in IonQ by 2.6% in the 4th quarter. PDS Planning Inc now owns 11,829 shares of the company's stock worth $494,000 after purchasing an additional 300 shares during the period. Mariner LLC boosted its stake in IonQ by 0.6% in the 4th quarter. Mariner LLC now owns 54,479 shares of the company's stock worth $2,276,000 after purchasing an additional 350 shares during the period. Allworth Financial LP boosted its stake in IonQ by 15.2% in the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company's stock worth $116,000 after purchasing an additional 363 shares during the period. Smartleaf Asset Management LLC boosted its stake in IonQ by 421.0% in the 4th 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 period. Finally, Pathway Financial Advisers LLC acquired a new position in IonQ in the 4th quarter worth $26,000. Institutional investors and hedge funds own 41.42% of the company's stock.

Insider Activity

In related news, CRO Rima Alameddine sold 1,407 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $21.20, for a total value of $29,828.40. Following the transaction, the executive now owns 592,615 shares in the company, valued at approximately $12,563,438. This represents a 0.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William F. Scannell purchased 93,066 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the purchase, the director now owns 135,047 shares in the company, valued at $2,945,375.07. The trade was a 221.69% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is owned by company insiders.

Analyst Ratings Changes

IONQ has been the subject of a number of research analyst reports. Needham & Company LLC reduced their target price on shares of IonQ from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Morgan Stanley upped 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. Benchmark cut their price target on shares of IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, DA Davidson cut their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $38.33.

IonQ Price Performance

NYSE:IONQ traded down $2.86 on Friday, hitting $40.34. 27,076,076 shares of the company's stock were exchanged, compared to its average volume of 17,856,324. The firm has a 50-day moving average price of $29.94 and a 200-day moving average price of $32.67. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The company has a market cap of $8.99 billion, a P/E ratio of -49.80 and a beta of 2.46.

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

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.