Fisher Asset Management LLC Takes $517,000 Position in IonQ, Inc. $IONQ

Fisher Asset Management LLC purchased a new position in IonQ, Inc. (NYSE:IONQ) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,031 shares of the company’s stock, valued at approximately $517,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in IonQ by 15.2% in the second quarter. Vanguard Group Inc. now owns 24,767,446 shares of the company’s stock valued at $1,064,257,000 after purchasing an additional 3,269,482 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of IonQ by 15.2% during the second quarter. Geode Capital Management LLC now owns 5,338,456 shares of the company’s stock valued at $229,422,000 after buying an additional 705,301 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of IonQ by 648.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,674,348 shares of the company’s stock valued at $114,917,000 after buying an additional 2,317,058 shares in the last quarter. Norges Bank purchased a new position in shares of IonQ in the 2nd quarter worth approximately $114,767,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of IonQ by 17.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,897,085 shares of the company’s stock worth $81,518,000 after buying an additional 279,895 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. B. Riley increased their target price on shares of IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. DA Davidson increased their price objective on IonQ from $35.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Cantor Fitzgerald raised their price objective on IonQ from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a research report on Wednesday, October 8th. Finally, Benchmark increased their price target on IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.00.

Insider Transactions at IonQ

In related news, CRO Rima Alameddine sold 100,000 shares of IonQ stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $46.89, for a total transaction of $4,689,000.00. Following the completion of the sale, the executive owned 432,616 shares of the company’s stock, valued at $20,285,364.24. The trade was a 18.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William J. Teuber, Jr. purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average price of $54.81 per share, for a total transaction of $109,620.00. Following the acquisition, the director owned 6,413 shares in the company, valued at $351,496.53. This trade represents a 45.32% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 149,044 shares of company stock valued at $6,920,244. 5.20% of the stock is owned by company insiders.

IonQ Price Performance

Shares of IONQ opened at $52.70 on Monday. The company’s fifty day moving average price is $58.49 and its 200-day moving average price is $49.60. IonQ, Inc. has a 1-year low of $17.88 and a 1-year high of $84.64. The firm has a market capitalization of $18.31 billion, a PE ratio of -9.85 and a beta of 2.62.

IonQ (NYSE:IONQ) last issued its earnings results 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 firm had revenue of $39.87 million during the quarter, compared to analysts’ expectations of $26.99 million. IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.The business’s revenue was up 221.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.24) EPS. As a group, research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

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.