Wealth Management Partners LLC Acquires New Stake in IonQ, Inc. $IONQ

Key Points

• Wealth Management Partners LLC acquired a new stake in IonQ, Inc., purchasing 10,292 shares valued at approximately $465,000 in the second quarter.
• IonQ's CEO, Masi Niccolo De, and CRO, Rima Alameddine, sold significant shares on September 11th, with Niccolo's shares valued at $715,728 and Alameddine's at $886,934.
• The company's stock is currently priced at $70.53, with its market capitalization at $20.94 billion, despite recent financial results showing a significant loss per share of ($0.70).

Wealth Management Partners LLC acquired a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,292 shares of the company's stock, valued at approximately $465,000.

A number of other hedge funds and other institutional investors have also modified their holdings of IONQ. ORG Partners LLC increased its stake in shares of IonQ by 348.0% in the 1st quarter. ORG Partners LLC now owns 1,120 shares of the company's stock worth $26,000 after acquiring an additional 870 shares during the last quarter. Future Financial Wealth Managment LLC grew its holdings in shares of 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 purchasing an additional 500 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of 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 purchasing an additional 1,295 shares during the period. Close Asset Management Ltd purchased a new position in shares of IonQ during the 1st quarter worth $35,000. Finally, SVB Wealth LLC purchased a new position in shares of IonQ during the 1st quarter worth $35,000. 41.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at IonQ

In other IonQ news, CEO Masi Niccolo De sold 16,120 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $715,728.00. Following the completion of the sale, the chief executive officer directly owned 1,181,186 shares in the company, valued at $52,444,658.40. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Rima Alameddine sold 19,976 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $44.40, for a total value of $886,934.40. Following the sale, the executive owned 532,616 shares of the company's stock, valued at $23,648,150.40. This represents a 3.61% decrease in their ownership of the stock. 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 over the last three months. Insiders own 5.20% of the company's stock.

IonQ Trading Up 5.6%

IonQ stock opened at $70.53 on Friday. The firm has a market capitalization of $20.94 billion, a P/E ratio of -35.09 and a beta of 2.54. The stock has a fifty day moving average price of $44.33 and a 200 day moving average price of $36.49. IonQ, Inc. has a 52 week low of $7.50 and a 52 week high of $71.30.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on IONQ shares. Rosenblatt Securities reiterated a "buy" rating and set a $70.00 price target on shares of IonQ in a report on Monday, September 15th. Sanford C. Bernstein assumed coverage on IonQ in a report on Wednesday, July 30th. They set a "market perform" rating for the company. Benchmark lifted their target price on IonQ from $55.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Wolfe Research assumed coverage on IonQ in a research report on Wednesday, July 30th. They issued a "peer perform" rating for the company. Finally, DA Davidson downgraded IonQ from a "buy" rating to a "neutral" rating and set a $35.00 target price for the company. in a research report on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $55.56.

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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