Bleakley Financial Group LLC Sells 802 Shares of IonQ, Inc. $IONQ

Bleakley Financial Group LLC trimmed its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 4.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,209 shares of the company’s stock after selling 802 shares during the period. Bleakley Financial Group LLC’s holdings in IonQ were worth $782,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in shares of IonQ by 116.7% in the 1st quarter. GAMMA Investing LLC now owns 2,462 shares of the company’s stock valued at $54,000 after acquiring an additional 1,326 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in IonQ by 32.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 27,476 shares of the company’s stock worth $606,000 after purchasing an additional 6,717 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in IonQ by 42.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 160,094 shares of the company’s stock valued at $3,533,000 after purchasing an additional 47,937 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of IonQ by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,616 shares of the company’s stock valued at $36,000 after purchasing an additional 808 shares during the period. Finally, Perigon Wealth Management LLC grew its holdings in shares of IonQ by 23.0% in the first quarter. Perigon Wealth Management LLC now owns 10,667 shares of the company’s stock worth $235,000 after purchasing an additional 1,993 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Price Performance

IONQ stock opened at $60.30 on Friday. IonQ, Inc. has a 1 year low of $14.15 and a 1 year high of $84.64. The firm has a 50-day moving average of $57.82 and a 200 day moving average of $44.58. The company has a market cap of $20.95 billion, a P/E ratio of -30.00 and a beta of 2.60.

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

Analyst Upgrades and Downgrades

IONQ has been the subject of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $70.00 price target on shares of IonQ in a report on Monday, September 15th. B. Riley increased their target price on shares of IonQ from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Oppenheimer began coverage on IonQ in a research note on Wednesday, July 30th. They issued an “outperform” rating on the stock. Wolfe Research initiated coverage on IonQ in a research report on Wednesday, July 30th. They set a “peer perform” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a research report on Saturday. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $58.33.

Insider Activity at IonQ

In related news, CEO Masi Niccolo De sold 16,120 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 $715,728.00. Following the sale, the chief executive officer owned 1,181,186 shares in the company, valued at $52,444,658.40. This represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas G. Kramer sold 64,578 shares of the business’s stock in a transaction 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 sale, the chief financial officer directly owned 473,302 shares in the company, valued at $19,793,489.64. This trade represents a 12.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,398 shares of company stock worth $5,665,690 over the last 90 days. 5.20% of the stock is currently owned by 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.