Yarbrough Capital LLC Purchases 12,291 Shares of IonQ, Inc. $IONQ

Yarbrough Capital LLC boosted its position in shares of IonQ, Inc. (NYSE:IONQ) by 73.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,992 shares of the company’s stock after purchasing an additional 12,291 shares during the period. Yarbrough Capital LLC’s holdings in IonQ were worth $1,783,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in IonQ by 15.2% during the second quarter. Vanguard Group Inc. now owns 24,767,446 shares of the company’s stock worth $1,064,257,000 after buying an additional 3,269,482 shares during the last quarter. Norges Bank acquired a new position in shares of IonQ in the 2nd quarter worth approximately $114,767,000. JPMorgan Chase & Co. grew its position in IonQ by 648.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,674,348 shares of the company’s stock worth $114,917,000 after acquiring an additional 2,317,058 shares during the last quarter. Ameriprise Financial Inc. grew its position in IonQ by 262.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 576,391 shares of the company’s stock worth $24,768,000 after acquiring an additional 930,490 shares during the last quarter. Finally, Amazon Com Inc. acquired a new stake in IonQ during the 2nd quarter valued at $36,705,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IONQ shares. JPMorgan Chase & Co. initiated coverage on IonQ in a research note on Thursday, November 20th. They issued a “neutral” rating and a $47.00 price objective on the stock. Wedbush assumed coverage on IonQ in a report on Wednesday, December 17th. They issued an “outperform” rating and a $60.00 price target for the company. Mizuho assumed coverage on shares of IonQ in a report on Thursday, December 11th. They set an “outperform” rating and a $90.00 price objective on the stock. Rosenblatt Securities raised their price objective on shares of IonQ from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Zacks Research raised shares of IonQ from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Nine research 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $72.08.

IonQ Price Performance

IONQ opened at $44.95 on Thursday. The firm has a 50 day simple moving average of $51.22 and a 200 day simple moving average of $50.50. IonQ, Inc. has a fifty-two week low of $17.88 and a fifty-two week high of $84.64. The company has a market cap of $15.62 billion, a price-to-earnings ratio of -8.40 and a beta of 2.62.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.14). The business had revenue of $39.87 million during 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%. IonQ’s revenue was up 221.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.24) earnings per share. As a group, analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

Insider Transactions at IonQ

In other IonQ news, Director Kathryn K. Chou sold 20,000 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the transaction, the director owned 60,839 shares of the company’s stock, valued at approximately $3,127,124.60. This represents a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Rima Alameddine sold 100,000 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale is available in the SEC filing. Insiders have sold 125,000 shares of company stock worth $5,992,000 in the last three months. Insiders own 5.20% of the company’s stock.

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.