Geode Capital Management LLC Buys 705,301 Shares of IonQ, Inc. $IONQ

Geode Capital Management LLC boosted its stake in shares of IonQ, Inc. (NYSE:IONQ) by 15.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,338,456 shares of the company’s stock after purchasing an additional 705,301 shares during the quarter. Geode Capital Management LLC’s holdings in IonQ were worth $229,422,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IONQ. Amazon Com Inc. acquired a new stake in shares of IonQ during the 2nd quarter worth about $36,705,000. Y Intercept Hong Kong Ltd acquired a new position in IonQ in the second quarter valued at about $6,104,000. Union Bancaire Privee UBP SA grew its stake in IonQ by 8,150.0% during the second quarter. Union Bancaire Privee UBP SA now owns 82,500 shares of the company’s stock worth $3,545,000 after buying an additional 81,500 shares during the last quarter. Cookson Peirce & Co. Inc. increased its holdings in shares of IonQ by 21.5% during the second quarter. Cookson Peirce & Co. Inc. now owns 102,466 shares of the company’s stock worth $4,403,000 after buying an additional 18,124 shares in the last quarter. Finally, McGuire Investment Group LLC raised its stake in shares of IonQ by 136.8% in the second quarter. McGuire Investment Group LLC now owns 165,716 shares of the company’s stock valued at $7,121,000 after acquiring an additional 95,723 shares during the last quarter. 41.42% of the stock is owned by institutional investors.

Insider Activity

In other IonQ news, insider Paul T. Dacier sold 4,175 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $185,370.00. Following the transaction, the insider directly owned 114,454 shares in the company, valued at approximately $5,081,757.60. This represents a 3.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William J. Teuber, Jr. bought 2,000 shares of IonQ stock in a transaction dated Tuesday, November 11th. The stock was acquired at an average cost of $54.81 per share, for a total transaction of $109,620.00. Following the purchase, the director directly owned 6,413 shares in the company, valued at approximately $351,496.53. The trade was a 45.32% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 113,622 shares of company stock worth $4,931,896. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IONQ. B. Riley boosted their target price on IonQ from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. DA Davidson boosted their price objective on IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Cantor Fitzgerald increased their target price on IonQ from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Benchmark raised their target price on IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Finally, Rosenblatt Securities upped their price target on shares of IonQ from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $68.11.

IonQ Stock Performance

Shares of IONQ opened at $47.04 on Monday. The business’s fifty day moving average price is $62.45 and its two-hundred day moving average price is $47.95. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of -8.79 and a beta of 2.59. IonQ, Inc. has a 52 week low of $17.88 and a 52 week high of $84.64.

IonQ (NYSE:IONQ) last released its earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share 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 for 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 company’s revenue was up 221.5% compared to the same quarter last year. IonQ has set its FY 2025 guidance at EPS. As a group, research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current year.

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.