IonQ, Inc. $IONQ Shares Bought by Legal & General Group Plc

Legal & General Group Plc lifted its holdings in IonQ, Inc. (NYSE:IONQ) by 48.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,361,858 shares of the company’s stock after purchasing an additional 444,612 shares during the period. Legal & General Group Plc’s holdings in IonQ were worth $61,107,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IONQ. Royal Bank of Canada grew its stake in shares of IonQ by 12.5% in the 1st quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock worth $2,962,000 after purchasing an additional 14,898 shares during the last quarter. Amundi acquired a new position in shares of IonQ in the 1st quarter worth approximately $630,000. AQR Capital Management LLC grew its stake in shares of IonQ by 106.2% in the 1st quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock worth $1,265,000 after purchasing an additional 29,513 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of IonQ by 24.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock worth $9,932,000 after purchasing an additional 87,428 shares during the last quarter. Finally, Focus Partners Wealth grew its stake in shares of IonQ by 30.3% in the 1st quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock worth $1,032,000 after purchasing an additional 10,881 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insider Buying and Selling

In related news, insider John W. Raymond sold 2,800 shares of the business’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 transaction of $93,352.00. Following the transaction, the insider directly owned 83,963 shares of the company’s stock, valued at approximately $2,799,326.42. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert T. Cardillo sold 3,773 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total transaction of $188,272.70. Following the transaction, the insider directly owned 139,967 shares in the company, valued at $6,984,353.30. The trade was a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

IONQ has been the topic of several analyst reports. DA Davidson dropped their target price on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, February 26th. Northland Securities began coverage on shares of IonQ in a research report on Monday, April 20th. They issued an “outperform” rating and a $55.00 price target for the company. Benchmark reduced their price target on shares of IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Morgan Stanley set a $48.50 price target on shares of IonQ in a research report on Thursday, May 7th. Finally, Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of IonQ in a research report on Monday, May 4th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.63.

IonQ Stock Performance

Shares of NYSE:IONQ opened at $72.07 on Friday. The company has a market cap of $26.90 billion, a PE ratio of -257.38 and a beta of 3.05. IonQ, Inc. has a 52 week low of $25.89 and a 52 week high of $84.64. The firm has a 50 day simple moving average of $43.76 and a 200 day simple moving average of $43.63.

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

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. 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.