IonQ, Inc. $IONQ Shares Sold by SLT Holdings LLC

SLT Holdings LLC reduced its stake in shares of IonQ, Inc. (NYSE:IONQFree Report) by 70.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,460 shares of the company’s stock after selling 10,600 shares during the quarter. SLT Holdings LLC’s holdings in IonQ were worth $200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IONQ. Vanguard Group Inc. raised its stake in IonQ by 18.5% during the 4th 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. Lansdowne Partners UK LLP raised its stake in IonQ by 286.1% during the 3rd quarter. Lansdowne Partners UK LLP now owns 1,937,031 shares of the company’s stock worth $119,127,000 after acquiring an additional 1,435,394 shares in the last quarter. State Street Corp raised its stake in IonQ by 19.9% during the 3rd quarter. State Street Corp now owns 6,299,559 shares of the company’s stock worth $387,423,000 after acquiring an additional 1,043,878 shares in the last quarter. Clear Street Group Inc. acquired a new stake in IonQ during the 3rd quarter worth $61,488,000. Finally, Ameriprise Financial Inc. raised its stake in IonQ by 262.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 576,391 shares of the company’s stock worth $24,768,000 after acquiring an additional 930,490 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings raised shares of IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price target on shares of IonQ in a research note on Thursday, February 26th. Wedbush reiterated an “outperform” rating and issued a $60.00 price target on shares of IonQ in a report on Monday, May 4th. Benchmark cut their price target on shares of IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Needham & Company LLC lowered their price objective on shares of IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, IonQ has an average rating of “Moderate Buy” and an average price target of $68.63.

View Our Latest Stock Analysis on IONQ

IonQ News Roundup

Here are the key news stories impacting IonQ this week:

Insider Buying and Selling

In other IonQ news, insider John W. Raymond sold 2,800 shares of IonQ stock in a transaction that occurred on Thursday, March 12th. The shares were 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. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William J. Teuber, Jr. acquired 3,000 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was acquired at an average cost of $38.38 per share, with a total value of $115,140.00. Following the transaction, the director directly owned 9,413 shares of the company’s stock, valued at approximately $361,270.94. This represents a 46.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 12,354 shares of company stock valued at $504,428. Insiders own 5.20% of the company’s stock.

IonQ Price Performance

IonQ stock opened at $63.54 on Monday. IonQ, Inc. has a 12-month low of $25.89 and a 12-month high of $84.64. The stock has a market capitalization of $23.72 billion, a P/E ratio of -226.93 and a beta of 3.05. The firm’s 50-day moving average is $40.37 and its two-hundred day moving average is $43.17.

IonQ (NYSE:IONQGet Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share (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 firm had revenue of $64.67 million for the quarter, compared to analyst estimates of $49.75 million. During the same period in the prior year, the business earned ($0.14) earnings per share. IonQ’s revenue for the quarter was up 754.7% on a year-over-year basis. As a group, analysts forecast that IonQ, Inc. will post -2.26 EPS for the current year.

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.

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Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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