IonQ, Inc. (NYSE:IONQ) Stock Holdings Lessened by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its stake in IonQ, Inc. (NYSE:IONQ - Free Report) by 30.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,375 shares of the company's stock after selling 18,800 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in IonQ were worth $370,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avantax Advisory Services Inc. bought a new position in IonQ in the first quarter valued at about $153,000. ProShare Advisors LLC raised its position in shares of IonQ by 10.5% during the first quarter. ProShare Advisors LLC now owns 29,427 shares of the company's stock worth $294,000 after purchasing an additional 2,805 shares during the period. Vanguard Group Inc. boosted its holdings in shares of IonQ by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 18,824,996 shares of the company's stock worth $188,062,000 after buying an additional 918,265 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in shares of IonQ in the first quarter worth about $185,000. Finally, Alpine Global Management LLC raised its position in IonQ by 300.0% during the first quarter. Alpine Global Management LLC now owns 56,004 shares of the company's stock valued at $559,000 after purchasing an additional 42,003 shares in the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ Stock Down 1.2 %

IONQ traded down $0.40 during trading on Friday, reaching $32.38. The company had a trading volume of 22,148,064 shares, compared to its average volume of 8,987,791. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $33.80. The stock has a market cap of $7.01 billion, a P/E ratio of -39.36 and a beta of 1.89. The business has a 50 day simple moving average of $14.73 and a 200-day simple moving average of $10.16.

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IonQ (NYSE:IONQ - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.02). The business had revenue of $12.40 million for the quarter, compared to the consensus estimate of $10.56 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The company's quarterly revenue was up 102.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.22) EPS. As a group, equities research analysts expect that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on IONQ shares. Needham & Company LLC boosted their price target on IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Benchmark upped their target price on shares of IonQ from $12.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. The Goldman Sachs Group cut their price objective on shares of IonQ from $11.50 to $8.00 and set a "neutral" rating on the stock in a report on Friday, August 9th. Finally, Craig Hallum upped their price target on shares of IonQ from $15.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th.

Insider Transactions at IonQ

In other news, CRO Rima Alameddine sold 22,875 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.75, for a total transaction of $406,031.25. Following the completion of the transaction, the executive now directly owns 592,658 shares in the company, valued at approximately $10,519,679.50. This represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 66,000 shares of company stock worth $972,331. Company insiders own 11.60% of the company's stock.

IonQ Company 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.