18,426 Shares in IonQ, Inc. $IONQ Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC bought a new stake in IonQ, Inc. (NYSE:IONQ) in the second quarter, Holdings Channel reports. The institutional investor bought 18,426 shares of the company’s stock, valued at approximately $981,000.

Several other institutional investors and hedge funds have also modified their holdings of IONQ. Vanguard Group Inc. raised its position in IonQ by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company’s stock valued at $1,560,343,000 after purchasing an additional 5,420,037 shares during the last quarter. State Street Corp grew its holdings in shares of IonQ by 42.3% during the fourth quarter. State Street Corp now owns 8,962,789 shares of the company’s stock worth $402,160,000 after purchasing an additional 2,663,230 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of IonQ by 21.9% during the fourth quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company’s stock worth $361,624,000 after purchasing an additional 1,452,463 shares during the last quarter. Norges Bank acquired a new stake in shares of IonQ in the fourth quarter valued at $199,753,000. Finally, Marex Group plc increased its stake in shares of IonQ by 419.1% in the fourth quarter. Marex Group plc now owns 4,083,453 shares of the company’s stock valued at $183,225,000 after buying an additional 3,296,866 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Price Performance

Shares of NYSE:IONQ opened at $46.35 on Monday. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of -9.95 and a beta of 3.28. The firm’s 50 day simple moving average is $45.79 and its 200 day simple moving average is $43.15. IonQ, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $84.64.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.23. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. The company had revenue of $80.05 million during the quarter, compared to analyst estimates of $66.47 million. During the same quarter in the previous year, the business earned ($0.70) EPS. The firm’s revenue was up 286.7% on a year-over-year basis. Equities research analysts expect that IonQ, Inc. will post -2.86 earnings per share for the current year.

Insider Activity

In other IonQ news, Director Kathryn K. Chou sold 2,757 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.02, for a total value of $151,690.14. Following the sale, the director owned 62,608 shares in the company, valued at approximately $3,444,692.16. The trade was a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gabrielle B. Toledano sold 2,757 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $151,662.57. Following the transaction, the director owned 11,154 shares of the company’s stock, valued at $613,581.54. The trade was a 19.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,329 shares of company stock worth $513,216 over the last three months. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price target on shares of IonQ in a report on Thursday, August 6th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price objective on shares of IonQ in a research report on Thursday, August 6th. Northland Securities upped their price objective on IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Finally, Morgan Stanley set a $49.00 price objective on IonQ in a research report on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, IonQ presently has a consensus rating of “Moderate Buy” and an average price target of $69.92.

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.