101,369 Shares in IonQ, Inc. $IONQ Bought by Strategic Planning Group LLC

Strategic Planning Group LLC bought a new position in shares of IonQ, Inc. (NYSE:IONQ) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 101,369 shares of the company’s stock, valued at approximately $6,234,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IONQ. Vanguard Group Inc. grew its holdings in shares of IonQ by 15.2% in 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 boosted its holdings in shares of IonQ by 15.2% in the 2nd 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 last quarter. State Street Corp grew its position in IonQ by 15.1% during the second quarter. State Street Corp now owns 5,255,681 shares of the company’s stock valued at $225,837,000 after buying an additional 688,663 shares during the period. JPMorgan Chase & Co. increased its holdings in IonQ by 648.5% during the second quarter. JPMorgan Chase & Co. now owns 2,674,348 shares of the company’s stock worth $114,917,000 after buying an additional 2,317,058 shares during the last quarter. Finally, Norges Bank bought a new stake in IonQ in the second quarter worth about $114,767,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at IonQ

In related news, Director William J. Teuber, Jr. acquired 2,000 shares of the stock in a transaction dated Tuesday, November 11th. The shares were purchased at an average price of $54.81 per share, for a total transaction of $109,620.00. Following the transaction, the director owned 6,413 shares in the company, valued at $351,496.53. This represents a 45.32% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Rima Alameddine sold 100,000 shares of IonQ stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $46.89, for a total transaction of $4,689,000.00. Following the sale, the executive directly owned 432,616 shares of the company’s stock, valued at $20,285,364.24. This represents a 18.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 125,000 shares of company stock valued at $5,992,000 in the last quarter. Insiders own 5.20% of the company’s stock.

IonQ Stock Performance

NYSE:IONQ opened at $49.73 on Thursday. IonQ, Inc. has a 52-week low of $17.88 and a 52-week high of $84.64. The stock has a fifty day moving average of $50.02 and a 200 day moving average of $50.82. The firm has a market capitalization of $17.28 billion, a price-to-earnings ratio of -9.30 and a beta of 2.63.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IONQ shares. Morgan Stanley upped their price objective on IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Jefferies Financial Group started coverage on shares of IonQ in a report on Tuesday, December 16th. They set a “buy” rating and a $100.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a research note on Wednesday, October 8th. Zacks Research upgraded shares of IonQ from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, B. Riley lifted their price objective on shares of IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, IonQ has an average rating of “Hold” and a consensus price target of $72.08.

IonQ 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. 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.