Universal Beteiligungs und Servicegesellschaft mbH Invests $2.05 Million in IonQ, Inc. (NYSE:IONQ)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of IonQ, Inc. (NYSE:IONQ) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 93,028 shares of the company’s stock, valued at approximately $2,053,000.

Several other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC grew its position in IonQ by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,466,094 shares of the company’s stock valued at $186,593,000 after acquiring an additional 45,942 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of IonQ by 1,310.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company’s stock valued at $103,095,000 after buying an additional 2,293,231 shares during the period. Northern Trust Corp boosted its stake in shares of IonQ by 12.6% in the 4th quarter. Northern Trust Corp now owns 1,934,625 shares of the company’s stock valued at $80,809,000 after buying an additional 216,752 shares during the period. Invesco Ltd. boosted its stake in shares of IonQ by 439.3% in the 4th quarter. Invesco Ltd. now owns 857,078 shares of the company’s stock valued at $35,800,000 after buying an additional 698,146 shares during the period. Finally, UNICOM Systems Inc. boosted its stake in shares of IonQ by 77.4% in the 1st quarter. UNICOM Systems Inc. now owns 768,900 shares of the company’s stock valued at $16,970,000 after buying an additional 335,429 shares during the period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IONQ shares. Benchmark lifted their price objective on IonQ from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Cantor Fitzgerald started coverage on IonQ in a research note on Wednesday, July 2nd. They issued an “overweight” rating and a $45.00 price objective for the company. Sanford C. Bernstein started coverage on IonQ in a research note on Wednesday. They issued a “market perform” rating for the company. Rosenblatt Securities started coverage on IonQ in a research note on Tuesday. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on IonQ from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Insider Transactions at IonQ

In other IonQ news, CRO Rima Alameddine sold 65,000 shares of IonQ stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $38.57, for a total transaction of $2,507,050.00. Following the transaction, the executive owned 552,592 shares of the company’s stock, valued at $21,313,473.44. The trade was a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Peter Hume Chapman sold 3,581,193 shares of IonQ stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $38.13, for a total value of $136,550,889.09. Following the transaction, the insider directly owned 390,329 shares in the company, valued at approximately $14,883,244.77. This trade represents a 90.17% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,191,850 shares of company stock worth $360,519,930. 5.20% of the stock is currently owned by corporate insiders.

IonQ Stock Down 1.7%

IONQ stock opened at $39.84 on Thursday. The business has a 50 day moving average price of $42.08 and a 200 day moving average price of $34.19. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of -26.74 and a beta of 2.55. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.14. The firm had revenue of $7.57 million during the quarter, compared to analysts’ expectations of $7.51 million. IonQ had a negative return on equity of 63.35% and a negative net margin of 753.20%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.19) earnings per share. As a group, sell-side analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

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.