IonQ, Inc. $IONQ is Lansdowne Partners UK LLP’s 10th Largest Position

Lansdowne Partners UK LLP lowered its position in IonQ, Inc. (NYSE:IONQ) by 50.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 493,785 shares of the company’s stock after selling 507,728 shares during the quarter. IonQ accounts for 1.5% of Lansdowne Partners UK LLP’s investment portfolio, making the stock its 10th biggest position. Lansdowne Partners UK LLP’s holdings in IonQ were worth $10,898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in IonQ by 0.6% in the first quarter. Vanguard Group Inc. now owns 21,497,964 shares of the company’s stock valued at $474,460,000 after acquiring an additional 123,839 shares during the last quarter. Northern Trust Corp boosted its holdings in IonQ by 12.6% in the fourth quarter. Northern Trust Corp now owns 1,934,625 shares of the company’s stock valued at $80,809,000 after acquiring an additional 216,752 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in IonQ by 101.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company’s stock valued at $20,476,000 after acquiring an additional 467,084 shares during the last quarter. UNICOM Systems Inc. boosted its holdings in IonQ by 77.4% in the first quarter. UNICOM Systems Inc. now owns 768,900 shares of the company’s stock valued at $16,970,000 after acquiring an additional 335,429 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in IonQ by 255.8% in the first quarter. Deutsche Bank AG now owns 761,066 shares of the company’s stock valued at $16,797,000 after acquiring an additional 547,155 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IONQ. Sanford C. Bernstein initiated coverage on IonQ in a report on Wednesday, July 30th. They issued a “market perform” rating on the stock. DA Davidson cut IonQ from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research note on Thursday, August 7th. Rosenblatt Securities began coverage on IonQ in a research note on Tuesday, July 29th. They set a “buy” rating and a $70.00 price objective on the stock. Needham & Company LLC restated a “buy” rating on shares of IonQ in a research note on Monday, August 4th. Finally, Cantor Fitzgerald began coverage on IonQ in a research note on Wednesday, July 2nd. They set an “overweight” rating and a $45.00 price objective on the stock. 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 has a consensus rating of “Moderate Buy” and an average price target of $46.78.

Insider Buying and Selling

In other news, CRO Rima Alameddine sold 45,000 shares of the firm’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $46.18, for a total transaction of $2,078,100.00. Following the completion of the sale, the executive directly owned 552,592 shares of the company’s stock, valued at $25,518,698.56. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathryn K. Chou sold 6,789 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $43.14, for a total value of $292,877.46. Following the completion of the sale, the director owned 60,839 shares of the company’s stock, valued at $2,624,594.46. The trade was a 10.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,209,626 shares of company stock valued at $361,253,723. 5.20% of the stock is owned by insiders.

IonQ Stock Performance

Shares of NYSE IONQ opened at $41.41 on Thursday. The stock has a fifty day moving average price of $41.71 and a two-hundred day moving average price of $34.31. The firm has a market cap of $12.29 billion, a P/E ratio of -20.60 and a beta of 2.54. IonQ, Inc. has a 1 year low of $6.54 and a 1 year high of $54.74.

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

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.