Pictet Asset Management Holding SA Has $3.14 Million Stock Position in IonQ, Inc. $IONQ

Pictet Asset Management Holding SA reduced its holdings in shares of IonQ, Inc. (NYSE:IONQFree Report) by 10.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 108,863 shares of the company’s stock after selling 12,970 shares during the period. Pictet Asset Management Holding SA’s holdings in IonQ were worth $3,139,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in IonQ by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company’s stock worth $1,560,343,000 after acquiring an additional 5,420,037 shares in the last quarter. State Street Corp boosted its stake in shares of IonQ by 42.3% in the 4th quarter. State Street Corp now owns 8,962,789 shares of the company’s stock valued at $402,160,000 after purchasing an additional 2,663,230 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. Norges Bank bought a new stake in shares of IonQ during the 4th quarter valued at approximately $199,753,000. Finally, Marex Group plc increased its position in IonQ by 419.1% during the 4th quarter. Marex Group plc now owns 4,083,453 shares of the company’s stock worth $183,225,000 after purchasing an additional 3,296,866 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at IonQ

In related news, insider Robert T. Cardillo sold 3,773 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the completion of the transaction, the insider directly owned 139,967 shares of the company’s stock, valued at $6,984,353.30. This trade represents a 2.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gabrielle B. Toledano sold 2,757 shares of IonQ stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $55.01, for a total value of $151,662.57. Following the transaction, the director directly owned 11,154 shares in the company, valued at $613,581.54. The trade was a 19.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,102 shares of company stock worth $701,489 in the last three months. 0.55% of the stock is currently owned by company insiders.

IonQ Price Performance

Shares of NYSE IONQ opened at $49.14 on Friday. The company has a 50 day simple moving average of $55.58 and a 200 day simple moving average of $45.06. The firm has a market cap of $18.34 billion, a PE ratio of -175.50 and a beta of 3.23. IonQ, Inc. has a 1 year low of $25.89 and a 1 year high of $84.64.

IonQ (NYSE:IONQGet Free Report) last posted its 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 business had revenue of $64.67 million for the quarter, compared to analyst estimates of $49.75 million. During the same quarter in the prior year, the business earned ($0.14) earnings per share. The firm’s quarterly revenue was up 754.7% on a year-over-year basis. As a group, research analysts anticipate that IonQ, Inc. will post -2.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IONQ shares. Weiss Ratings raised shares of IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Morgan Stanley set a $48.50 target price on shares of IonQ in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on shares of IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of IonQ in a research note on Thursday, June 11th. Finally, Wedbush reissued an “outperform” rating and set a $60.00 price objective on shares of IonQ in a report on Monday, May 4th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, IonQ has a consensus rating of “Moderate Buy” and a consensus target price of $69.88.

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IonQ Company 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.

Further Reading

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Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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