Voya Investment Management LLC Sells 5,525 Shares of IonQ, Inc. $IONQ

Key Points

• Voya Investment Management LLC reduced its stake in IonQ, Inc. by 9.2%, selling 5,525 shares and holding 54,315 shares valued at approximately $1.2 million as of the latest SEC filing.
• Institutional ownership of IonQ stands at 41.42%, with significant stake increases from firms such as Deutsche Bank AG (255.8%) and Connor Clark & Lunn Investment Management Ltd. (101.4%) in the first quarter.
• IonQ reported disappointing quarterly earnings, missing EPS estimates with a loss of ($0.70) per share, but achieved a revenue increase of 81.6% year-over-year, totaling $20.69 million.

Voya Investment Management LLC lessened its stake in IonQ, Inc. (NYSE:IONQ - Free Report) by 9.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,315 shares of the company's stock after selling 5,525 shares during the quarter. Voya Investment Management LLC's holdings in IonQ were worth $1,199,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IONQ. Vanguard Group Inc. increased its holdings in shares of IonQ by 0.6% in the first quarter. Vanguard Group Inc. now owns 21,497,964 shares of the company's stock worth $474,460,000 after acquiring an additional 123,839 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of IonQ by 101.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company's stock worth $20,476,000 after acquiring an additional 467,084 shares in the last quarter. UNICOM Systems Inc. increased its holdings in shares of IonQ by 77.4% in the first quarter. UNICOM Systems Inc. now owns 768,900 shares of the company's stock worth $16,970,000 after acquiring an additional 335,429 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of IonQ by 255.8% in the first quarter. Deutsche Bank AG now owns 761,066 shares of the company's stock worth $16,797,000 after acquiring an additional 547,155 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of IonQ in the first quarter worth about $12,193,000. Institutional investors own 41.42% of the company's stock.

IonQ Stock Performance

Shares of IONQ opened at $75.04 on Wednesday. IonQ, Inc. has a 52-week low of $7.50 and a 52-week high of $76.13. The business's fifty day moving average is $45.59 and its 200-day moving average is $37.23. The firm has a market cap of $22.27 billion, a price-to-earnings ratio of -37.33 and a beta of 2.54.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.70) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.57). The firm had revenue of $20.69 million for the quarter, compared to the consensus estimate of $17.23 million. IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The company's revenue was up 81.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.18) EPS. As a group, research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Activity at IonQ

In related news, insider Paul T. Dacier sold 4,175 shares of IonQ stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $185,370.00. Following the completion of the sale, the insider owned 114,454 shares of the company's stock, valued at approximately $5,081,757.60. This trade represents a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Masi Niccolo De sold 16,120 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $715,728.00. Following the sale, the chief executive officer owned 1,181,186 shares in the company, valued at $52,444,658.40. The trade was a 1.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,047 shares of company stock valued at $15,645,611 in the last ninety days. Insiders own 5.20% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on IONQ. Wolfe Research began coverage on IonQ in a research report on Wednesday, July 30th. They set a "peer perform" rating for the company. Oppenheimer began coverage on IonQ in a research report on Wednesday, July 30th. They set an "outperform" rating for the company. DA Davidson cut IonQ from a "buy" rating to a "neutral" rating and set a $35.00 price objective for the company. in a research report on Thursday, August 7th. Rosenblatt Securities reaffirmed a "buy" rating and set a $70.00 price objective on shares of IonQ in a research report on Monday, September 15th. Finally, B. Riley upped their price objective on IonQ from $75.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $58.33.

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.

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