IonQ, Inc. $IONQ Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. trimmed its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 41.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,834 shares of the company’s stock after selling 8,439 shares during the period. Freedom Investment Management Inc.’s holdings in IonQ were worth $509,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in IonQ by 0.6% during the 1st 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 period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in IonQ by 101.4% during the 1st 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 period. UNICOM Systems Inc. lifted its stake in shares of IonQ by 77.4% in the 1st quarter. UNICOM Systems Inc. now owns 768,900 shares of the company’s stock valued at $16,970,000 after purchasing an additional 335,429 shares during the period. Deutsche Bank AG lifted its stake in shares of IonQ by 255.8% in the 1st quarter. Deutsche Bank AG now owns 761,066 shares of the company’s stock valued at $16,797,000 after purchasing an additional 547,155 shares during the period. Finally, Nuveen LLC purchased a new stake in IonQ during the first quarter worth $12,193,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CRO Rima Alameddine sold 19,976 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $886,934.40. Following the completion of the sale, the executive owned 532,616 shares of the company’s stock, valued at approximately $23,648,150.40. The trade was a 3.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Masi Niccolo De sold 16,120 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $715,728.00. Following the sale, the chief executive officer directly owned 1,181,186 shares of the company’s stock, valued at $52,444,658.40. The trade was a 1.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,398 shares of company stock worth $5,665,690 in the last 90 days. 5.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Benchmark increased their price target on shares of IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Wolfe Research assumed coverage on shares of IonQ in a report on Wednesday, July 30th. They set a “peer perform” rating on the stock. Oppenheimer assumed coverage on shares of IonQ in a report on Wednesday, July 30th. They set an “outperform” rating on the stock. Zacks Research downgraded shares of IonQ from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of IonQ in a report on Saturday. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.33.

IonQ Stock Performance

Shares of NYSE IONQ opened at $60.30 on Friday. The firm has a market cap of $20.95 billion, a PE ratio of -30.00 and a beta of 2.60. The firm has a fifty day moving average of $57.82 and a 200 day moving average of $44.58. IonQ, Inc. has a one year low of $14.15 and a one year high of $84.64.

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

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.