Vontobel Holding Ltd. Sells 32,096 Shares of IonQ, Inc. $IONQ

Vontobel Holding Ltd. lessened its stake in shares of IonQ, Inc. (NYSE:IONQ) by 45.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,599 shares of the company’s stock after selling 32,096 shares during the period. Vontobel Holding Ltd.’s holdings in IonQ were worth $1,659,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of IonQ during the first quarter worth approximately $12,193,000. Deutsche Bank AG boosted its stake in IonQ by 255.8% in the 1st quarter. Deutsche Bank AG now owns 761,066 shares of the company’s stock worth $16,797,000 after purchasing an additional 547,155 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in IonQ by 101.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company’s stock worth $20,476,000 after purchasing an additional 467,084 shares in the last quarter. UNICOM Systems Inc. raised its position in IonQ by 77.4% in the 1st quarter. UNICOM Systems Inc. now owns 768,900 shares of the company’s stock worth $16,970,000 after buying an additional 335,429 shares during the last quarter. Finally, Quantitative Investment Management LLC purchased a new stake in shares of IonQ during the 1st quarter valued at about $5,678,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

IonQ Stock Down 8.5%

IonQ stock opened at $70.88 on Friday. IonQ, Inc. has a 52 week low of $9.62 and a 52 week high of $82.97. The company has a market capitalization of $21.04 billion, a price-to-earnings ratio of -35.26 and a beta of 2.60. The stock has a 50-day moving average price of $53.00 and a 200 day moving average price of $41.58.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Zacks Research downgraded IonQ from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. DA Davidson lowered IonQ from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research note on Thursday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a research note on Wednesday. Wolfe Research began coverage on IonQ in a research note on Wednesday, July 30th. They set a “peer perform” rating on the stock. Finally, Rosenblatt Securities restated a “buy” rating and set a $70.00 price target on shares of IonQ in a research note on Monday, September 15th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.33.

Insider Buying and Selling

In other IonQ news, CFO Thomas G. Kramer sold 64,578 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $41.82, for a total value of $2,700,651.96. Following the completion of the transaction, the chief financial officer directly owned 473,302 shares of the company’s stock, valued at approximately $19,793,489.64. The trade was a 12.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul T. Dacier sold 4,175 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total value of $185,370.00. Following the transaction, the insider directly owned 114,454 shares of the company’s stock, valued at approximately $5,081,757.60. The trade was a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 178,876 shares of company stock valued at $7,930,390 in the last three months. 5.20% of the stock is currently owned by company insiders.

IonQ 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.