78,763 Shares in IonQ, Inc. $IONQ Purchased by Rakuten Securities Inc.

Rakuten Securities Inc. acquired a new position in IonQ, Inc. (NYSE:IONQ) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 78,763 shares of the company’s stock, valued at approximately $4,195,000. IonQ makes up approximately 1.0% of Rakuten Securities Inc.’s investment portfolio, making the stock its 17th biggest position.

A number of other institutional investors have also recently bought and sold shares of IONQ. Royal Bank of Canada grew its position in shares of IonQ by 12.5% during 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 in the last quarter. Amundi bought a new position in shares of IonQ during the first quarter worth approximately $630,000. AQR Capital Management LLC raised its position in shares of IonQ by 106.2% in the first quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock valued at $1,265,000 after buying an additional 29,513 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of IonQ by 24.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock valued at $9,932,000 after buying an additional 87,428 shares in the last quarter. Finally, Focus Partners Wealth boosted its stake in shares of IonQ by 30.3% in the first quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock valued at $1,032,000 after buying an additional 10,881 shares during the period. Institutional investors own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IONQ. Needham & Company LLC reissued a “buy” rating and set a $65.00 price target on shares of IonQ in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of IonQ in a report on Friday, August 7th. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 target price on shares of IonQ in a research report on Thursday, August 6th. Morgan Stanley set a $49.00 target price on IonQ in a report on Thursday, August 6th. Finally, Northland Securities increased their target price on IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.92.

IonQ Trading Up 8.2%

Shares of NYSE:IONQ opened at $44.95 on Friday. The firm has a 50 day moving average of $44.36 and a 200-day moving average of $43.17. The stock has a market capitalization of $17.13 billion, a PE ratio of -9.65 and a beta of 3.28. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.23. The company had revenue of $80.05 million during the quarter, compared to the consensus estimate of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. The firm’s quarterly revenue was up 286.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.70) EPS. On average, research analysts predict that IonQ, Inc. will post -2.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other IonQ news, Director Kathryn K. Chou sold 2,757 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.02, for a total transaction of $151,690.14. Following the completion of the sale, the director directly owned 62,608 shares in the company, valued at $3,444,692.16. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John W. Raymond sold 3,815 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total value of $209,863.15. Following the completion of the sale, the insider directly owned 80,148 shares in the company, valued at approximately $4,408,941.48. This represents a 4.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,329 shares of company stock worth $513,216 over the last three months. Insiders own 0.55% of the company’s stock.

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.