BI Asset Management Fondsmaeglerselskab A S Buys 18,499 Shares of IonQ, Inc. $IONQ

BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of IonQ, Inc. (NYSE:IONQ) by 16.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,744 shares of the company’s stock after acquiring an additional 18,499 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in IonQ were worth $5,732,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of IonQ by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company’s stock worth $1,560,343,000 after acquiring an additional 5,420,037 shares in the last quarter. Norges Bank purchased a new position in IonQ during the fourth quarter worth about $199,753,000. Geode Capital Management LLC boosted its holdings in IonQ by 21.9% during the fourth quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company’s stock worth $361,624,000 after purchasing an additional 1,452,463 shares during the last quarter. Lansdowne Partners UK LLP grew its position in IonQ by 286.1% in the 3rd quarter. Lansdowne Partners UK LLP now owns 1,937,031 shares of the company’s stock worth $119,127,000 after purchasing an additional 1,435,394 shares in the last quarter. Finally, State Street Corp increased its stake in IonQ by 19.9% in the 3rd quarter. State Street Corp now owns 6,299,559 shares of the company’s stock valued at $387,423,000 after buying an additional 1,043,878 shares during the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

IonQ Stock Up 0.4%

IonQ stock opened at $56.99 on Monday. IonQ, Inc. has a twelve month low of $25.89 and a twelve month high of $84.64. The firm has a 50 day moving average price of $47.17 and a 200-day moving average price of $44.16. The company has a market capitalization of $21.27 billion, a P/E ratio of -203.53 and a beta of 3.18.

IonQ (NYSE:IONQ) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The company had revenue of $64.67 million during the quarter, compared to the consensus estimate of $49.75 million. During the same period last year, the firm posted ($0.14) EPS. The company’s revenue for the quarter was up 754.7% compared to the same quarter last year. Equities analysts expect that IonQ, Inc. will post -2.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley set a $48.50 target price on shares of IonQ 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 report on Monday, May 11th. Benchmark dropped their price target on IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Jefferies Financial Group set a $85.00 price objective on IonQ in a research report on Thursday, May 7th. Finally, DA Davidson reduced their price objective on IonQ from $55.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.63.

Insiders Place Their Bets

In other IonQ news, insider John W. Raymond sold 2,800 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $33.34, for a total value of $93,352.00. Following the sale, the insider directly owned 83,963 shares in the company, valued at $2,799,326.42. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert T. Cardillo sold 3,773 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total value of $188,272.70. Following the transaction, the insider directly owned 139,967 shares in the company, valued at $6,984,353.30. This represents a 2.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 5.20% of the company’s stock.

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. 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.