1,604 Shares in IonQ, Inc. $IONQ Acquired by SVB Wealth LLC

SVB Wealth LLC acquired a new position in IonQ, Inc. (NYSE:IONQ) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,604 shares of the company’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds also recently bought and sold shares of IONQ. ORG Partners LLC boosted its holdings in 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 buying an additional 870 shares during the period. Measured Risk Portfolios Inc. bought a new position in IonQ in the 4th quarter worth approximately $27,000. Future Financial Wealth Managment LLC boosted its holdings in IonQ by 50.0% in the 1st quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company’s stock worth $33,000 after buying an additional 500 shares during the period. Farther Finance Advisors LLC boosted its holdings in IonQ by 780.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock worth $34,000 after buying an additional 1,295 shares during the period. Finally, Close Asset Management Ltd bought a new position in IonQ in the 1st quarter worth approximately $35,000. 41.42% of the stock is owned by institutional investors.

IonQ Stock Performance

Shares of NYSE:IONQ opened at $41.41 on Thursday. IonQ, Inc. has a 52-week low of $6.54 and a 52-week high of $54.74. The firm has a fifty day moving average of $41.71 and a 200 day moving average of $34.31. The firm has a market capitalization of $12.29 billion, a PE ratio of -20.60 and a beta of 2.54.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, August 6th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.57). IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The company had revenue of $20.69 million during the quarter, compared to analysts’ expectations of $17.23 million. During the same quarter last year, the firm posted ($0.18) earnings per share. The firm’s revenue was up 81.6% on a year-over-year basis. On average, sell-side analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on IONQ shares. Oppenheimer assumed coverage on shares of IonQ in a report on Wednesday, July 30th. They issued an “outperform” rating for the company. Wolfe Research assumed coverage on shares of IonQ in a research report on Wednesday, July 30th. They set a “peer perform” rating for the company. Needham & Company LLC restated a “buy” rating on shares of IonQ in a research report on Monday, August 4th. DA Davidson lowered shares of IonQ from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Thursday, August 7th. Finally, Cantor Fitzgerald assumed coverage on shares of IonQ in a research report on Wednesday, July 2nd. They set an “overweight” rating and a $45.00 price target for the company. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.78.

Insider Activity at IonQ

In related news, CRO Rima Alameddine sold 65,000 shares of the company’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $38.57, for a total value of $2,507,050.00. Following the completion of the transaction, the executive directly owned 552,592 shares in the company, valued at approximately $21,313,473.44. The trade was a 10.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Hume Chapman sold 3,581,193 shares of the company’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $38.13, for a total transaction of $136,550,889.09. Following the completion of the transaction, the insider owned 390,329 shares of the company’s stock, valued at $14,883,244.77. This trade represents a 90.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,209,626 shares of company stock valued at $361,253,723 over the last ninety days. 5.20% of the stock is currently owned by insiders.

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.