ProShare Advisors LLC Buys 19,758 Shares of IonQ, Inc. (NYSE:IONQ)

ProShare Advisors LLC grew its stake in shares of IonQ, Inc. (NYSE:IONQ) by 52.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,248 shares of the company’s stock after acquiring an additional 19,758 shares during the period. ProShare Advisors LLC’s holdings in IonQ were worth $2,391,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new stake in IonQ in the 4th quarter worth about $26,000. Smartleaf Asset Management LLC grew its holdings in shares of IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock worth $27,000 after purchasing an additional 501 shares in the last quarter. Measured Risk Portfolios Inc. bought a new position in shares of IonQ in the fourth quarter worth $27,000. TD Waterhouse Canada Inc. bought a new position in IonQ in the 4th quarter valued at about $33,000. Finally, Golden State Wealth Management LLC acquired a new position in IonQ during the fourth quarter valued at approximately $34,000. Institutional investors own 41.42% of the company’s stock.

IonQ Stock Up 0.7%

NYSE:IONQ opened at $35.34 on Wednesday. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The stock has a market cap of $7.88 billion, a P/E ratio of -43.63 and a beta of 2.46. The firm’s fifty day simple moving average is $26.77 and its 200 day simple moving average is $31.43.

IonQ (NYSE:IONQ) last issued its quarterly 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 company had revenue of $7.57 million for the quarter, compared to analysts’ expectations of $7.51 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) earnings per share. On average, analysts expect that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Activity at IonQ

In other IonQ news, Director William F. Scannell purchased 93,066 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the purchase, the director now directly owns 135,047 shares of the company’s stock, valued at $2,945,375.07. This trade represents a 221.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total value of $37,440,000.00. Following the sale, the insider now directly owns 414,363 shares in the company, valued at $7,756,875.36. This trade represents a 82.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,033,166 shares of company stock valued at $38,059,593 in the last 90 days. Corporate insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Needham & Company LLC cut their price target on IonQ from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Benchmark lowered their target price on IonQ from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. DA Davidson cut their price objective on shares of IonQ from $50.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley boosted their price target on shares of IonQ from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.33.

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.