Charles Schwab Investment Management Inc. Acquires 135,851 Shares of IonQ, Inc. (NYSE:IONQ)

Charles Schwab Investment Management Inc. raised its holdings in IonQ, Inc. (NYSE:IONQ) by 9.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,614,034 shares of the company’s stock after buying an additional 135,851 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.75% of IonQ worth $14,107,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in IONQ. California State Teachers Retirement System raised its holdings in IonQ by 6.9% in the 1st quarter. California State Teachers Retirement System now owns 172,959 shares of the company’s stock valued at $1,728,000 after acquiring an additional 11,150 shares in the last quarter. Milestone Asset Management LLC acquired a new position in shares of IonQ in the second quarter valued at $248,000. Bank of New York Mellon Corp lifted its position in IonQ by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 916,536 shares of the company’s stock worth $6,443,000 after purchasing an additional 131,439 shares during the period. Principal Financial Group Inc. boosted its stake in IonQ by 40.6% during the second quarter. Principal Financial Group Inc. now owns 26,801 shares of the company’s stock worth $188,000 after buying an additional 7,744 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in IonQ by 13.5% in the 2nd quarter. Rhumbline Advisers now owns 295,918 shares of the company’s stock valued at $2,080,000 after buying an additional 35,158 shares during the period. 41.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IONQ has been the subject of several recent research reports. Craig Hallum increased their price target on shares of IonQ from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC increased their target price on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Benchmark boosted their price target on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

IonQ Stock Performance

IONQ opened at $37.97 on Monday. The firm’s fifty day moving average is $20.28 and its two-hundred day moving average is $12.07. The firm has a market cap of $8.22 billion, a PE ratio of -46.88 and a beta of 2.49. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $38.45.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company had revenue of $12.40 million for the quarter, compared to the consensus estimate of $10.56 million. During the same period in the prior year, the company earned ($0.22) EPS. The firm’s revenue was up 102.1% on a year-over-year basis. Equities analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Rima Alameddine sold 9,875 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $11.72, for a total value of $115,735.00. Following the transaction, the executive now owns 638,908 shares in the company, valued at approximately $7,488,001.76. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 66,000 shares of company stock valued at $972,331 over the last ninety days. 11.60% of the stock is currently owned by company insiders.

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.