IonQ, Inc. $IONQ Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. raised its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 99.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,636 shares of the company’s stock after buying an additional 15,251 shares during the period. Prudential Financial Inc.’s holdings in IonQ were worth $1,316,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Amazon Com Inc. acquired a new stake in IonQ in the 2nd quarter valued at $36,705,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of IonQ in the second quarter worth about $6,104,000. Union Bancaire Privee UBP SA boosted its position in shares of IonQ by 8,150.0% in the second quarter. Union Bancaire Privee UBP SA now owns 82,500 shares of the company’s stock worth $3,545,000 after buying an additional 81,500 shares during the period. Cookson Peirce & Co. Inc. grew its stake in shares of IonQ by 21.5% in the second quarter. Cookson Peirce & Co. Inc. now owns 102,466 shares of the company’s stock valued at $4,403,000 after buying an additional 18,124 shares in the last quarter. Finally, McGuire Investment Group LLC raised its holdings in shares of IonQ by 136.8% during the 2nd quarter. McGuire Investment Group LLC now owns 165,716 shares of the company’s stock valued at $7,121,000 after buying an additional 95,723 shares during the period. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CRO Rima Alameddine sold 100,000 shares of IonQ stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $46.89, for a total value of $4,689,000.00. Following the completion of the transaction, the executive owned 432,616 shares in the company, valued at approximately $20,285,364.24. This trade represents a 18.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul T. Dacier sold 4,175 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $185,370.00. Following the completion of the sale, the insider owned 114,454 shares of the company’s stock, valued at $5,081,757.60. This trade represents a 3.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 149,044 shares of company stock valued at $6,920,244. 5.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IONQ shares. Zacks Research upgraded IonQ from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Morgan Stanley boosted their target price on shares of IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $80.00 target price on shares of IonQ in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. began coverage on shares of IonQ in a report on Thursday, November 20th. They issued a “neutral” rating and a $47.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $66.00.

IonQ Trading Down 3.8%

IONQ stock opened at $52.70 on Friday. The firm has a 50 day simple moving average of $58.49 and a 200-day simple moving average of $49.49. The company has a market capitalization of $18.31 billion, a P/E ratio of -9.85 and a beta of 2.62. IonQ, Inc. has a twelve month low of $17.88 and a twelve month high of $84.64.

IonQ (NYSE:IONQ) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($3.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.14). The company had revenue of $39.87 million for the quarter, compared to the consensus estimate of $26.99 million. IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The company’s revenue was up 221.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.24) earnings per share. On average, research analysts predict that IonQ, Inc. will post -0.86 EPS for the current year.

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.