17,482 Shares in IonQ, Inc. $IONQ Bought by Purpose Unlimited Inc.

Purpose Unlimited Inc. purchased a new stake in shares of IonQ, Inc. (NYSE:IONQ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,482 shares of the company’s stock, valued at approximately $784,000.

Other institutional investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. increased its position in shares of IonQ by 485.7% in the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after acquiring an additional 340 shares during the period. Accent Capital Management LLC boosted its holdings in shares of IonQ by 171.8% during the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock worth $26,000 after purchasing an additional 371 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of IonQ by 3,800.0% during the fourth quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock worth $28,000 after purchasing an additional 608 shares during the period. Beaird Harris Wealth Management LLC grew its stake in shares of IonQ by 117.4% in the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after purchasing an additional 270 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of IonQ by 50.5% in the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock worth $36,000 after purchasing an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insider Buying and Selling 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 shares were sold at an average price of $49.90, for a total transaction of $188,272.70. Following the completion of the transaction, the insider owned 139,967 shares of the company’s stock, valued at approximately $6,984,353.30. This trade represents a 2.62% 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. Corporate insiders own 0.55% of the company’s stock.

IonQ Price Performance

NYSE:IONQ opened at $56.48 on Friday. The firm’s 50-day moving average price is $53.01 and its 200-day moving average price is $44.97. The company has a market capitalization of $21.08 billion, a PE ratio of -201.71 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 issued its quarterly earnings results 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 the consensus estimate of $49.75 million. During the same quarter in the previous year, the business earned ($0.14) earnings per share. The firm’s revenue was up 754.7% compared to the same quarter last year. Equities analysts anticipate that IonQ, Inc. will post -2.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IONQ shares. DA Davidson reduced their price target on IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Jefferies Financial Group set a $85.00 price objective on IonQ in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings raised IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, Northland Securities assumed coverage on IonQ in a report on Monday, April 20th. They set an “outperform” rating and a $55.00 target price for the company. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.62.

IonQ 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.