Universal Beteiligungs und Servicegesellschaft mbH Invests $2.05 Million in IonQ, Inc. (NYSE:IONQ)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in IonQ, Inc. valued at approximately $2.05 million by purchasing 93,028 shares during the first quarter.
• Institutional investors and hedge funds now own 41.42% of IonQ's stock, with several firms significantly boosting their holdings in recent months.
• IonQ's stock has shown volatility, with a 1-year low of $6.22 and a high of $54.74, currently trading around $39.84.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 93,028 shares of the company's stock, valued at approximately $2,053,000.

Several other institutional investors also recently made changes to their positions in IONQ. JPMorgan Chase & Co. lifted 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 valued at $103,095,000 after acquiring an additional 2,293,231 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of IonQ during the 4th quarter valued at $29,519,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of IonQ during the 4th quarter valued at $29,513,000. Invesco Ltd. lifted its holdings in IonQ by 439.3% in the 4th quarter. Invesco Ltd. now owns 857,078 shares of the company's stock worth $35,800,000 after buying an additional 698,146 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in IonQ by 475.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 688,764 shares of the company's stock worth $28,771,000 after buying an additional 569,061 shares in the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Cantor Fitzgerald assumed coverage on shares of IonQ in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $45.00 price objective on the stock. Sanford C. Bernstein assumed coverage on shares of IonQ in a report on Wednesday. They issued a "market perform" rating on the stock. Morgan Stanley boosted their price objective on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Wolfe Research began coverage on shares of IonQ in a report on Wednesday. They issued a "peer perform" rating on the stock. Finally, Oppenheimer began coverage on shares of IonQ in a research report on Wednesday. They issued an "outperform" rating for the company. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, IonQ presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.

Insider Activity

In other IonQ news, insider Peter Hume Chapman sold 3,581,193 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $38.13, for a total value of $136,550,889.09. Following the completion of the transaction, the insider owned 390,329 shares in the company, valued at approximately $14,883,244.77. This represents a 90.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Masi Niccolo De sold 2,597,500 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 9,191,850 shares of company stock worth $360,519,930 in the last quarter. Company insiders own 5.20% of the company's stock.

IonQ Price Performance

Shares of NYSE:IONQ traded down $0.02 during trading on Thursday, reaching $39.86. 21,403,880 shares of the company's stock traded hands, compared to its average volume of 19,382,410. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The company has a 50 day moving average of $41.96 and a 200-day moving average of $34.28. The stock has a market capitalization of $10.43 billion, a P/E ratio of -26.75 and a beta of 2.55.

IonQ (NYSE:IONQ - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $7.57 million during the quarter, compared to analysts' expectations of $7.51 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. IonQ's quarterly revenue was down .2% on a year-over-year basis. Equities research analysts predict 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.