Clearbridge Investments LLC Grows Holdings in IonQ, Inc. $IONQ

Clearbridge Investments LLC increased its holdings in shares of IonQ, Inc. (NYSE:IONQFree Report) by 34.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 623,075 shares of the company’s stock after buying an additional 160,834 shares during the period. Clearbridge Investments LLC owned about 0.18% of IonQ worth $27,957,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IONQ. Ameriflex Group Inc. increased its stake in IonQ by 485.7% during the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after buying an additional 340 shares during the period. Accent Capital Management LLC boosted its holdings in shares of IonQ by 171.8% in the 4th quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock valued at $26,000 after buying an additional 371 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in shares of IonQ by 3,800.0% in the 4th quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock valued at $28,000 after buying an additional 608 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in shares of IonQ by 117.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after buying an additional 270 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in IonQ by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock worth $36,000 after purchasing an additional 279 shares during the period. 41.42% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting IonQ

Here are the key news stories impacting IonQ this week:

IonQ Stock Performance

Shares of IonQ stock opened at $56.69 on Wednesday. The company has a market cap of $21.16 billion, a P/E ratio of -202.45 and a beta of 3.18. IonQ, Inc. has a one year low of $25.89 and a one year high of $84.64. The firm has a fifty day moving average of $48.42 and a two-hundred day moving average of $44.32.

IonQ (NYSE:IONQGet Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). The firm had revenue of $64.67 million for the quarter, compared to analysts’ expectations of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The firm’s quarterly revenue was up 754.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.14) EPS. As a group, equities analysts predict that IonQ, Inc. will post -2.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IONQ. Wall Street Zen upgraded shares of IonQ from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Wedbush reiterated an “outperform” rating and set a $60.00 price target on shares of IonQ in a research note on Monday, May 4th. JPMorgan Chase & Co. increased their price target on shares of IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Jefferies Financial Group set a $85.00 price target on shares of IonQ in a research note on Thursday, May 7th. Finally, DA Davidson decreased their price target on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $68.63.

Check Out Our Latest Analysis on IonQ

Insiders Place Their Bets

In other IonQ news, 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 transaction of $188,272.70. Following the completion of the transaction, the insider owned 139,967 shares in the company, valued at approximately $6,984,353.30. This represents a 2.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John W. Raymond sold 2,800 shares of the company’s 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 transaction, the insider owned 83,963 shares of the company’s stock, valued at approximately $2,799,326.42. The trade was a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.20% of the stock is currently owned by corporate insiders.

IonQ Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding IONQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IonQ, Inc. (NYSE:IONQFree Report).

Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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