Resona Asset Management Co. Ltd. Acquires New Stake in IonQ, Inc. $IONQ

Resona Asset Management Co. Ltd. bought a new position in IonQ, Inc. (NYSE:IONQFree Report) in the 4th quarter, Holdings Channel reports. The firm bought 87,015 shares of the company’s stock, valued at approximately $3,909,000.

Several other hedge funds have also made changes to their positions in IONQ. Vanguard Group Inc. lifted its holdings 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 worth $1,560,343,000 after buying an additional 5,420,037 shares during the period. Lansdowne Partners UK LLP lifted its holdings in shares of IonQ by 286.1% in the 3rd quarter. Lansdowne Partners UK LLP now owns 1,937,031 shares of the company’s stock worth $119,127,000 after buying an additional 1,435,394 shares during the period. State Street Corp lifted its holdings 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 worth $387,423,000 after buying an additional 1,043,878 shares during the period. Clear Street Group Inc. purchased a new stake in shares of IonQ in the 3rd quarter worth $61,488,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of IonQ by 262.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 576,391 shares of the company’s stock worth $24,768,000 after buying an additional 930,490 shares during the period. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting IonQ

Here are the key news stories impacting IonQ this week:

Insider Activity at IonQ

In related news, insider John W. Raymond sold 2,800 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was 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 of the company’s stock, valued at $2,799,326.42. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert T. Cardillo sold 5,165 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $39.44, for a total value of $203,707.60. Following the transaction, the insider directly owned 112,291 shares in the company, valued at $4,428,757.04. This represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,354 shares of company stock valued at $504,428 in the last ninety days. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

IONQ has been the subject of several research reports. Benchmark lowered their target price on IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of IonQ in a report on Monday, May 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of IonQ in a research report on Monday, February 9th. DA Davidson reduced their price target on IonQ from $55.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, February 26th. Finally, Wall Street Zen raised IonQ from a “strong sell” rating to a “sell” rating in a research report on Saturday. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, IonQ has a consensus rating of “Moderate Buy” and an average price target of $68.63.

Get Our Latest Analysis on IONQ

IonQ Trading Up 7.9%

IONQ opened at $63.54 on Friday. The firm has a market cap of $23.72 billion, a price-to-earnings ratio of -226.93 and a beta of 3.05. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64. The stock has a fifty day moving average price of $40.37 and a 200-day moving average price of $43.28.

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

IonQ Profile

(Free Report)

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.

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Want to see what other hedge funds are holding IONQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IonQ, Inc. (NYSE:IONQFree Report).

Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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