IonQ, Inc. $IONQ Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. trimmed its holdings in IonQ, Inc. (NYSE:IONQ) by 13.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 104,930 shares of the company’s stock after selling 16,333 shares during the quarter. Cibc World Market Inc.’s holdings in IonQ were worth $4,708,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IONQ. Royal Bank of Canada boosted its holdings in IonQ by 12.5% in the first quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock valued at $2,962,000 after purchasing an additional 14,898 shares in the last quarter. Amundi acquired a new position in IonQ in the first quarter valued at approximately $630,000. AQR Capital Management LLC boosted its holdings in IonQ by 106.2% in the first quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock valued at $1,265,000 after purchasing an additional 29,513 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in IonQ by 24.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock valued at $9,932,000 after purchasing an additional 87,428 shares in the last quarter. Finally, Focus Partners Wealth boosted its holdings in IonQ by 30.3% in the first quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock valued at $1,032,000 after purchasing an additional 10,881 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Price Performance

Shares of NYSE IONQ opened at $56.99 on Monday. The stock has a fifty day moving average price of $47.17 and a 200 day moving average price of $44.16. IonQ, Inc. has a 1-year low of $25.89 and a 1-year high of $84.64. The company has a market cap of $21.27 billion, a PE ratio of -203.53 and a beta of 3.18.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $49.75 million. During the same period in the prior year, the business earned ($0.14) earnings per share. IonQ’s revenue for the quarter was up 754.7% compared to the same quarter last year. Analysts anticipate that IonQ, Inc. will post -2.26 earnings per share for the current fiscal year.

Insider Buying and Selling at IonQ

In related news, insider John W. Raymond sold 2,800 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $33.34, for a total transaction of $93,352.00. Following the completion of the sale, the insider directly owned 83,963 shares of the company’s stock, valued at $2,799,326.42. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert T. Cardillo sold 3,773 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total value of $188,272.70. Following the sale, the insider directly owned 139,967 shares of the company’s stock, valued at approximately $6,984,353.30. This represents a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IONQ. Needham & Company LLC lowered their price target on IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 26th. JPMorgan Chase & Co. upped their price target on IonQ from $42.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings raised IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Jefferies Financial Group set a $85.00 price target on IonQ in a report on Thursday, May 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of IonQ in a report on Thursday, February 26th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $68.63.

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.