Geode Capital Management LLC Purchases 199,360 Shares of IonQ, Inc. (NYSE:IONQ)

Geode Capital Management LLC grew its position in IonQ, Inc. (NYSE:IONQ) by 4.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,420,152 shares of the company’s stock after buying an additional 199,360 shares during the period. Geode Capital Management LLC’s holdings in IonQ were worth $38,640,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IONQ. State Street Corp lifted its holdings in IonQ by 1.8% during the third quarter. State Street Corp now owns 4,260,880 shares of the company’s stock worth $37,240,000 after acquiring an additional 75,596 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of IonQ by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock valued at $14,107,000 after purchasing an additional 135,851 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of IonQ by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 916,536 shares of the company’s stock valued at $6,443,000 after purchasing an additional 131,439 shares during the period. FMR LLC raised its holdings in IonQ by 7.2% during the 3rd quarter. FMR LLC now owns 612,625 shares of the company’s stock worth $5,354,000 after buying an additional 41,125 shares during the period. Finally, Carnegie Investment Counsel bought a new position in IonQ in the third quarter valued at approximately $5,036,000. Institutional investors own 41.42% of the company’s stock.

Insider Buying and Selling

In other news, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the transaction, the chief financial officer now directly owns 926,114 shares in the company, valued at approximately $27,524,108.08. The trade was a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Rima Alameddine sold 9,159 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $10.72, for a total value of $98,184.48. Following the transaction, the executive now directly owns 648,783 shares in the company, valued at $6,954,953.76. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,223 shares of company stock worth $2,286,983. Insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IONQ shares. Craig Hallum increased their price objective on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Needham & Company LLC lifted their price target on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. DA Davidson started coverage on IonQ in a research report on Thursday, December 19th. They set a “buy” rating and a $50.00 price objective for the company. Finally, Benchmark lifted their target price on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.60.

IonQ Price Performance

Shares of NYSE:IONQ opened at $44.58 on Wednesday. The stock has a market capitalization of $9.65 billion, a PE ratio of -55.04 and a beta of 2.49. The company’s 50-day moving average price is $26.35 and its two-hundred day moving average price is $14.31. IonQ, Inc. has a one year low of $6.22 and a one year high of $47.41.

IonQ (NYSE:IONQ) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The company had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. During the same quarter in the prior year, the business earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 102.1% compared to the same quarter last year. On average, analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

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.