Union Bancaire Privee UBP SA Has $3.55 Million Position in IonQ, Inc. $IONQ

Union Bancaire Privee UBP SA grew its stake in shares of IonQ, Inc. (NYSE:IONQ) by 8,150.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 82,500 shares of the company’s stock after buying an additional 81,500 shares during the period. Union Bancaire Privee UBP SA’s holdings in IonQ were worth $3,545,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of IonQ by 0.6% during the first quarter. Vanguard Group Inc. now owns 21,497,964 shares of the company’s stock valued at $474,460,000 after buying an additional 123,839 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in IonQ by 101.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company’s stock worth $20,476,000 after buying an additional 467,084 shares during the last quarter. UNICOM Systems Inc. grew its stake in shares of IonQ by 77.4% during the first quarter. UNICOM Systems Inc. now owns 768,900 shares of the company’s stock valued at $16,970,000 after purchasing an additional 335,429 shares during the last quarter. Deutsche Bank AG grew its stake in shares of IonQ by 255.8% during the first quarter. Deutsche Bank AG now owns 761,066 shares of the company’s stock valued at $16,797,000 after purchasing an additional 547,155 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of IonQ during the first quarter valued at approximately $12,193,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. B. Riley increased their price objective on shares of IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Oppenheimer initiated coverage on shares of IonQ in a report on Wednesday, July 30th. They issued an “outperform” rating on the stock. Rosenblatt Securities restated a “buy” rating and set a $70.00 price objective on shares of IonQ in a report on Monday, September 15th. Needham & Company LLC raised their target price on shares of IonQ from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, Benchmark lifted their price target on shares of IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, IonQ currently has an average rating of “Moderate Buy” and an average target price of $58.33.

IonQ Price Performance

Shares of IONQ opened at $64.21 on Tuesday. The firm has a 50-day moving average of $47.49 and a 200-day moving average of $38.67. IonQ, Inc. has a one year low of $7.99 and a one year high of $76.13. The company has a market cap of $19.06 billion, a PE ratio of -31.94 and a beta of 2.54.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.57). The firm had revenue of $20.69 million during the quarter, compared to the consensus estimate of $17.23 million. IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. The business’s revenue was up 81.6% on a year-over-year basis. During the same period last year, the business earned ($0.18) EPS. Analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Buying and Selling at IonQ

In related news, CEO Masi Niccolo De sold 16,120 shares of IonQ stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $715,728.00. Following the completion of the sale, the chief executive officer owned 1,181,186 shares of the company’s stock, valued at approximately $52,444,658.40. The trade was a 1.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul T. Dacier sold 4,175 shares of IonQ stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $185,370.00. Following the sale, the insider directly owned 114,454 shares of the company’s stock, valued at $5,081,757.60. The trade was a 3.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 351,047 shares of company stock worth $15,645,611 in the last ninety days. 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.