IonQ, Inc. $IONQ Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in IonQ, Inc. (NYSE:IONQ) by 96.5% in the 1st quarter, HoldingsChannel reports. The firm owned 125,556 shares of the company’s stock after purchasing an additional 61,656 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in IonQ were worth $3,620,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Clear Street Group Inc. purchased a new stake in shares of IonQ during the third quarter worth approximately $61,488,000. Swedbank AB acquired a new position in IonQ during the 4th quarter worth approximately $2,708,000. Jefferies Financial Group Inc. acquired a new position in IonQ during the 4th quarter worth approximately $3,271,000. ProShare Advisors LLC increased its position in shares of IonQ by 30.3% in the 4th quarter. ProShare Advisors LLC now owns 62,184 shares of the company’s stock valued at $2,790,000 after purchasing an additional 14,465 shares during the last quarter. Finally, Forsta AP Fonden purchased a new stake in shares of IonQ in the 4th quarter valued at approximately $5,488,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Price Performance

Shares of NYSE IONQ opened at $48.92 on Tuesday. The business has a 50-day moving average price of $55.58 and a 200 day moving average price of $45.06. IonQ, Inc. has a 52-week low of $25.89 and a 52-week high of $84.64.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) 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 business had revenue of $64.67 million for the quarter, compared to analysts’ expectations of $49.75 million. During the same period in the previous year, the business posted ($0.14) earnings per share. The company’s revenue for the quarter was up 754.7% on a year-over-year basis. As a group, sell-side analysts expect that IonQ, Inc. will post -2.26 EPS for the current fiscal year.

Insider Activity

In other IonQ news, insider Robert T. Cardillo sold 3,773 shares of IonQ stock in a transaction that occurred 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 owned 139,967 shares of the company’s stock, valued at approximately $6,984,353.30. The trade was a 2.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn K. Chou sold 2,757 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $55.02, for a total value of $151,690.14. Following the completion of the sale, the director directly owned 62,608 shares of the company’s stock, valued at $3,444,692.16. This represents a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 13,102 shares of company stock valued at $701,489. 0.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IONQ shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of IonQ in a research report on Thursday, June 11th. Northland Securities lifted their price target on IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Wall Street Zen raised IonQ from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. Morgan Stanley set a $48.50 price objective on IonQ in a report on Thursday, May 7th. Finally, Jefferies Financial Group set a $85.00 target price on IonQ in a research note on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, IonQ presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.88.

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.