IonQ, Inc. (NYSE:IONQ) Stake Trimmed by Focus Partners Wealth

Focus Partners Wealth lowered its stake in IonQ, Inc. (NYSE:IONQ) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,901 shares of the company’s stock after selling 2,699 shares during the quarter. Focus Partners Wealth’s holdings in IonQ were worth $1,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. PDS Planning Inc increased its stake in IonQ by 2.6% in the 4th quarter. PDS Planning Inc now owns 11,829 shares of the company’s stock worth $494,000 after purchasing an additional 300 shares in the last quarter. Mariner LLC increased its stake in IonQ by 0.6% in the 4th quarter. Mariner LLC now owns 54,479 shares of the company’s stock worth $2,276,000 after purchasing an additional 350 shares in the last quarter. Allworth Financial LP increased its stake in IonQ by 15.2% in the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company’s stock worth $116,000 after purchasing an additional 363 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock worth $27,000 after purchasing an additional 501 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in IonQ in the 4th quarter worth about $26,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insider Activity at IonQ

In related news, CRO Rima Alameddine sold 1,407 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $21.20, for a total value of $29,828.40. Following the completion of the sale, the executive now directly owns 592,615 shares in the company, valued at approximately $12,563,438. The trade was a 0.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Hume Chapman sold 2,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total value of $37,440,000.00. Following the completion of the sale, the insider now owns 414,363 shares of the company’s stock, valued at approximately $7,756,875.36. This trade represents a 82.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is owned by corporate insiders.

IonQ Stock Performance

Shares of NYSE IONQ opened at $35.06 on Friday. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of -43.29 and a beta of 2.46. The business has a 50 day simple moving average of $26.22 and a 200 day simple moving average of $31.05. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.14. The business had revenue of $7.57 million during the quarter, compared to analysts’ expectations of $7.51 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) EPS. On average, analysts predict that IonQ, Inc. will post -0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Benchmark decreased their price objective on IonQ from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Needham & Company LLC decreased their price objective on IonQ from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. DA Davidson decreased their price objective on IonQ from $50.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley raised their price objective on IonQ from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.33.

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.