28,720 Shares in IonQ, Inc. $IONQ Purchased by Trek Financial LLC

Trek Financial LLC purchased a new stake in shares of IonQ, Inc. (NYSE:IONQ) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 28,720 shares of the company’s stock, valued at approximately $1,766,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of IonQ by 15.2% during the second quarter. Vanguard Group Inc. now owns 24,767,446 shares of the company’s stock valued at $1,064,257,000 after acquiring an additional 3,269,482 shares in the last quarter. Geode Capital Management LLC lifted its holdings in IonQ by 15.2% in the second quarter. Geode Capital Management LLC now owns 5,338,456 shares of the company’s stock worth $229,422,000 after buying an additional 705,301 shares during the period. State Street Corp boosted its position in IonQ by 15.1% during the 2nd quarter. State Street Corp now owns 5,255,681 shares of the company’s stock valued at $225,837,000 after acquiring an additional 688,663 shares in the last quarter. JPMorgan Chase & Co. boosted its position in IonQ by 648.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,674,348 shares of the company’s stock valued at $114,917,000 after acquiring an additional 2,317,058 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of IonQ during the 2nd quarter worth approximately $114,767,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insider Activity

In related news, Director Kathryn K. Chou sold 20,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the transaction, the director owned 60,839 shares in the company, valued at $3,127,124.60. This represents a 24.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J. Teuber, Jr. bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was bought at an average price of $54.81 per share, for a total transaction of $109,620.00. Following the acquisition, the director directly owned 6,413 shares of the company’s stock, valued at $351,496.53. The trade was a 45.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 125,000 shares of company stock valued at $5,992,000 over the last three months. Insiders own 5.20% of the company’s stock.

IonQ Price Performance

Shares of NYSE:IONQ opened at $47.32 on Friday. IonQ, Inc. has a 1-year low of $17.88 and a 1-year high of $84.64. The business has a fifty day moving average price of $48.74 and a 200-day moving average price of $51.43. The company has a market capitalization of $16.44 billion, a PE ratio of -8.84 and a beta of 2.63.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.14). IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.The firm had revenue of $39.87 million during the quarter, compared to the consensus estimate of $26.99 million. During the same quarter in the previous year, the firm earned ($0.24) EPS. The business’s revenue for the quarter was up 221.5% on a year-over-year basis. On average, sell-side analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. began coverage on IonQ in a research note on Thursday, November 20th. They issued a “neutral” rating and a $47.00 target price for the company. Morgan Stanley raised their price objective on IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. DA Davidson boosted their target price on shares of IonQ from $35.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Zacks Research raised shares of IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Rosenblatt Securities lifted their price target on shares of IonQ from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.91.

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.