Nomura Asset Management Co. Ltd. Purchases Shares of 93,870 IonQ, Inc. $IONQ

Nomura Asset Management Co. Ltd. bought a new stake in IonQ, Inc. (NYSE:IONQ) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 93,870 shares of the company’s stock, valued at approximately $4,212,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of IonQ by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company’s stock valued at $1,560,343,000 after purchasing an additional 5,420,037 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of IonQ by 21.9% in the 4th quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company’s stock valued at $361,624,000 after purchasing an additional 1,452,463 shares in the last quarter. State Street Corp boosted its stake in shares of IonQ by 19.9% in the 3rd quarter. State Street Corp now owns 6,299,559 shares of the company’s stock valued at $387,423,000 after purchasing an additional 1,043,878 shares in the last quarter. Norges Bank acquired a new stake in shares of IonQ in the 4th quarter valued at $199,753,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of IonQ by 12.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,008,001 shares of the company’s stock valued at $184,992,000 after purchasing an additional 333,653 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insider Transactions at IonQ

In other IonQ news, insider John W. Raymond sold 2,800 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $33.34, for a total transaction of $93,352.00. Following the transaction, the insider directly owned 83,963 shares in the company, valued at approximately $2,799,326.42. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert T. Cardillo sold 3,773 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total value of $188,272.70. Following the completion of the sale, the insider directly owned 139,967 shares of the company’s stock, valued at approximately $6,984,353.30. This trade represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 5.20% of the company’s stock.

IonQ Trading Down 3.7%

IonQ stock opened at $65.68 on Friday. IonQ, Inc. has a 1 year low of $25.89 and a 1 year high of $84.64. The company has a market cap of $24.52 billion, a PE ratio of -234.57 and a beta of 3.18. The company’s 50-day moving average is $46.67 and its two-hundred day moving average is $44.09.

IonQ (NYSE:IONQ) last released its earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The business had revenue of $64.67 million for the quarter, compared to analyst estimates of $49.75 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The business’s revenue for the quarter was up 754.7% on a year-over-year basis. Research analysts forecast that IonQ, Inc. will post -2.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IONQ. Jefferies Financial Group set a $85.00 target price on shares of IonQ in a research note on Thursday, May 7th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 target price on shares of IonQ in a research note on Thursday, February 26th. JPMorgan Chase & Co. boosted their target price on shares of IonQ from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of IonQ from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Needham & Company LLC reduced their target price on shares of IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.63.

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.