Wellington Management Group LLP Makes New Investment in IonQ, Inc. $IONQ

Wellington Management Group LLP bought a new position in IonQ, Inc. (NYSE:IONQ - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 200,891 shares of the company's stock, valued at approximately $4,434,000. Wellington Management Group LLP owned about 0.09% of IonQ as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. purchased a new position in shares of IonQ during the 4th quarter worth $29,519,000. Nuveen LLC purchased a new position in shares of IonQ during the 1st quarter worth $12,193,000. Deutsche Bank AG grew its holdings in shares of IonQ by 255.8% during the 1st quarter. Deutsche Bank AG now owns 761,066 shares of the company's stock worth $16,797,000 after purchasing an additional 547,155 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of IonQ by 101.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company's stock worth $20,476,000 after purchasing an additional 467,084 shares during the period. Finally, Two Sigma Investments LP grew its holdings in shares of IonQ by 700.0% during the 4th quarter. Two Sigma Investments LP now owns 476,017 shares of the company's stock worth $19,883,000 after purchasing an additional 416,517 shares during the period. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Price Performance

Shares of IonQ stock opened at $42.75 on Friday. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of -21.27 and a beta of 2.54. The business has a 50-day moving average of $41.83 and a 200 day moving average of $34.36. IonQ, Inc. has a 12 month low of $6.54 and a 12 month high of $54.74.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IONQ. B. Riley began coverage on IonQ in a report on Wednesday. They set a "buy" rating and a $61.00 price target for the company. Cantor Fitzgerald began coverage on IonQ in a report on Wednesday, July 2nd. They set an "overweight" rating and a $45.00 price target for the company. Needham & Company LLC reiterated a "buy" rating on shares of IonQ in a report on Monday, August 4th. Wolfe Research initiated coverage on IonQ in a report on Wednesday, July 30th. They set a "peer perform" rating for the company. Finally, Morgan Stanley raised their target price on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $46.78.

Insider Buying and Selling

In other IonQ news, Director Kathryn K. Chou sold 6,789 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $43.14, for a total value of $292,877.46. Following the sale, the director owned 60,839 shares of the company's stock, valued at $2,624,594.46. This trade represents a 10.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Rima Alameddine sold 45,000 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $46.18, for a total value of $2,078,100.00. Following the completion of the sale, the executive directly owned 552,592 shares in the company, valued at $25,518,698.56. This represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,209,626 shares of company stock worth $361,253,723 over the last 90 days. 5.20% of the stock is currently owned by company insiders.

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.

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