IonQ, Inc. (NYSE:IONQ) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in IonQ, Inc. (NYSE:IONQ) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,906,731 shares of the company’s stock after purchasing an additional 193,924 shares during the period. Vanguard Group Inc. owned about 8.60% of IonQ worth $221,864,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Virtu Financial LLC acquired a new position in IonQ in the 4th quarter worth about $554,000. Prospect Financial Services LLC acquired a new position in shares of IonQ during the 4th quarter worth approximately $124,000. Morgens Waterfall Vintiadis & Co. Inc. acquired a new position in shares of IonQ during the 4th quarter worth approximately $1,858,000. Blueshift Asset Management LLC purchased a new position in shares of IonQ during the 4th quarter valued at approximately $234,000. Finally, Chesapeake Capital Corp IL acquired a new stake in IonQ in the 4th quarter valued at $547,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analyst Ratings Changes

Separately, Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of IonQ in a research report on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, IonQ has an average rating of “Moderate Buy” and a consensus target price of $16.50.

IonQ Price Performance

Shares of NYSE:IONQ opened at $6.85 on Tuesday. IonQ, Inc. has a 1 year low of $6.33 and a 1 year high of $21.60. The firm has a market capitalization of $1.45 billion, a PE ratio of -8.30 and a beta of 2.06. The business’s 50 day moving average price is $8.13 and its 200-day moving average price is $9.81.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The company had revenue of $7.58 million for the quarter, compared to analyst estimates of $7.08 million. IonQ had a negative return on equity of 31.76% and a negative net margin of 671.00%. The firm’s revenue for the quarter was up 76.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.14) EPS. As a group, analysts expect that IonQ, Inc. will post -0.89 earnings per share for the current year.

Insider Buying and Selling

In other IonQ news, CEO Peter Hume Chapman sold 5,936 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total value of $46,835.04. Following the transaction, the chief executive officer now directly owns 445,297 shares of the company’s stock, valued at approximately $3,513,393.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Peter Hume Chapman sold 5,936 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total transaction of $46,835.04. Following the transaction, the chief executive officer now owns 445,297 shares of the company’s stock, valued at approximately $3,513,393.33. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Rima Alameddine sold 9,807 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total transaction of $77,377.23. Following the completion of the sale, the executive now directly owns 687,840 shares of the company’s stock, valued at approximately $5,427,057.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,353 shares of company stock worth $160,585. 11.60% of the stock is owned by insiders.

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.