IonQ, Inc. $IONQ Shares Acquired by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lifted its stake in shares of IonQ, Inc. (NYSE:IONQ) by 203.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,114,665 shares of the company’s stock after acquiring an additional 746,998 shares during the period. Westfield Capital Management Co. LP’s holdings in IonQ were worth $50,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriflex Group Inc. grew its holdings in IonQ by 485.7% in the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after buying an additional 340 shares during the period. UMB Bank n.a. acquired a new position in shares of IonQ in the 3rd quarter valued at about $31,000. Beaird Harris Wealth Management LLC boosted its holdings in IonQ by 117.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after acquiring an additional 270 shares during the period. Accent Capital Management LLC boosted its stake in shares of IonQ by 171.8% in the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares during the period. Finally, Kelleher Financial Advisors purchased a new position in shares of IonQ in the third quarter valued at $36,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Trading Down 13.2%

Shares of IonQ stock opened at $56.99 on Friday. The stock has a 50-day moving average price of $47.17 and a 200 day moving average price of $44.19. The company has a market cap of $21.27 billion, a P/E ratio of -203.53 and a beta of 3.18. IonQ, Inc. has a 1 year low of $25.89 and a 1 year high of $84.64.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.08). IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The business had revenue of $64.67 million during the quarter, compared to analysts’ expectations of $49.75 million. During the same period in the prior year, the company posted ($0.14) earnings per share. The firm’s revenue was up 754.7% on a year-over-year basis. On average, equities analysts forecast that IonQ, Inc. will post -2.26 earnings per share for the current fiscal year.

Insider Transactions at IonQ

In other IonQ news, insider Robert T. Cardillo sold 3,773 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total value of $188,272.70. Following the sale, the insider owned 139,967 shares of the company’s stock, valued at $6,984,353.30. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John W. Raymond sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.34, for a total value of $93,352.00. Following the completion of the sale, the insider directly owned 83,963 shares in the company, valued at $2,799,326.42. This trade represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IONQ shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IonQ in a research report on Monday, February 9th. Morgan Stanley set a $48.50 price objective on IonQ in a research note on Thursday, May 7th. Wall Street Zen upgraded IonQ from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Wedbush reiterated an “outperform” rating and set a $60.00 price target on shares of IonQ in a research report on Monday, May 4th. Finally, Needham & Company LLC decreased their target price on IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.63.

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.