Headlands Technologies LLC Buys 47,526 Shares of IonQ, Inc. $IONQ

Headlands Technologies LLC increased its stake in shares of IonQ, Inc. (NYSE:IONQ) by 46.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,875 shares of the company’s stock after acquiring an additional 47,526 shares during the quarter. IonQ makes up 0.8% of Headlands Technologies LLC’s investment portfolio, making the stock its 23rd largest position. Headlands Technologies LLC’s holdings in IonQ were worth $6,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of IonQ by 15.2% during 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 period. Geode Capital Management LLC boosted its position in IonQ by 15.2% during the 2nd 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 period. State Street Corp grew its holdings in IonQ by 15.1% in the 2nd quarter. State Street Corp now owns 5,255,681 shares of the company’s stock worth $225,837,000 after acquiring an additional 688,663 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in IonQ by 648.5% in 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. Finally, Norges Bank purchased a new position in shares of IonQ in the second quarter valued at about $114,767,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

IonQ Stock Performance

IONQ stock opened at $50.31 on Friday. 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 capitalization of $17.48 billion, a price-to-earnings ratio of -9.40 and a beta of 2.62. The business’s 50 day moving average price is $57.13 and its two-hundred day moving average price is $49.80.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The firm 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 for the quarter was up 221.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. Sell-side analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Activity

In other news, Director Kathryn K. Chou sold 20,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $51.40, for a total value of $1,028,000.00. Following the sale, the director directly owned 60,839 shares of the company’s stock, valued at $3,127,124.60. This represents a 24.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Rima Alameddine sold 100,000 shares of the 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 transaction, the executive owned 432,616 shares of the company’s stock, valued at approximately $20,285,364.24. The trade was a 18.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a report on Wednesday, October 8th. B. Riley increased their price objective on IonQ from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. DA Davidson lifted their price objective on IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Zacks Research upgraded IonQ from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Morgan Stanley raised their price target on IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 4th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $68.18.

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.