IonQ, Inc. $IONQ Shares Sold by Hamilton Lane Advisors LLC

Hamilton Lane Advisors LLC lessened its position in IonQ, Inc. (NYSE:IONQ) by 25.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 195,000 shares of the company’s stock after selling 65,000 shares during the period. IonQ comprises about 4.8% of Hamilton Lane Advisors LLC’s portfolio, making the stock its 7th biggest holding. Hamilton Lane Advisors LLC’s holdings in IonQ were worth $8,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of IONQ. Vanguard Group Inc. lifted its stake in IonQ by 18.5% in the 3rd quarter. Vanguard Group Inc. now owns 29,354,706 shares of the company’s stock valued at $1,805,314,000 after purchasing an additional 4,587,260 shares during the last quarter. Lansdowne Partners UK LLP increased its position in IonQ by 286.1% during the third 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 last quarter. State Street Corp raised its stake in IonQ by 19.9% in the third quarter. State Street Corp now owns 6,299,559 shares of the company’s stock valued at $387,423,000 after buying an additional 1,043,878 shares during the period. Clear Street Group Inc. bought a new stake in IonQ in the third quarter valued at approximately $61,488,000. Finally, Ameriprise Financial Inc. lifted its position in shares of IonQ by 262.8% in the second quarter. Ameriprise Financial Inc. now owns 576,391 shares of the company’s stock valued at $24,768,000 after buying an additional 930,490 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Robert T. Cardillo sold 5,165 shares of the business’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 completion of the sale, the insider owned 112,291 shares of the company’s stock, valued at approximately $4,428,757.04. The trade was a 4.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John W. Raymond sold 2,800 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $33.34, for a total transaction of $93,352.00. Following the completion of the transaction, the insider owned 83,963 shares in the company, valued at $2,799,326.42. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 8,581 shares of company stock valued at $316,156. 5.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 target price on shares of IonQ in a research note on Thursday, February 26th. Benchmark cut their price target on IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Needham & Company LLC reduced their price objective on shares of IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IonQ in a report on Monday, February 9th. Finally, Wedbush initiated coverage on shares of IonQ in a research report on Wednesday, December 17th. They issued an “outperform” rating and a $60.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.45.

IonQ Price Performance

Shares of NYSE IONQ opened at $29.33 on Friday. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of -11.78 and a beta of 2.80. The stock’s fifty day moving average price is $34.43 and its two-hundred day moving average price is $48.55. IonQ, Inc. has a one year low of $18.81 and a one year high of $84.64.

About IonQ

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.