SLT Holdings LLC Trims Holdings in IonQ, Inc. $IONQ

SLT Holdings LLC trimmed its stake in IonQ, Inc. (NYSE:IONQFree Report) by 70.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,460 shares of the company’s stock after selling 10,600 shares during the period. SLT Holdings LLC’s holdings in IonQ were worth $200,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of IonQ by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company’s stock valued at $1,560,343,000 after acquiring an additional 5,420,037 shares during the period. State Street Corp raised its stake in shares of IonQ by 19.9% in the 3rd quarter. State Street Corp now owns 6,299,559 shares of the company’s stock valued at $387,423,000 after acquiring an additional 1,043,878 shares during the period. JPMorgan Chase & Co. increased its stake in IonQ by 12.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,008,001 shares of the company’s stock worth $184,992,000 after buying an additional 333,653 shares during the period. Northern Trust Corp lifted its holdings in IonQ by 30.3% during the 3rd quarter. Northern Trust Corp now owns 2,737,026 shares of the company’s stock worth $168,327,000 after buying an additional 636,482 shares in the last quarter. Finally, Lansdowne Partners UK LLP boosted its position in IonQ by 286.1% in the 3rd quarter. Lansdowne Partners UK LLP now owns 1,937,031 shares of the company’s stock valued at $119,127,000 after buying an additional 1,435,394 shares during the period. 41.42% of the stock is owned by hedge funds and other institutional investors.

IonQ News Summary

Here are the key news stories impacting IonQ this week:

Insider Activity at IonQ

In related news, insider John W. Raymond sold 2,800 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $33.34, for a total value of $93,352.00. Following the transaction, the insider owned 83,963 shares of the company’s stock, valued at $2,799,326.42. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William J. Teuber, Jr. bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average cost of $38.38 per share, for a total transaction of $115,140.00. Following the acquisition, the director directly owned 9,413 shares of the company’s stock, valued at $361,270.94. The trade was a 46.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 12,354 shares of company stock valued at $504,428 over the last quarter. 5.20% of the stock is owned by insiders.

IonQ Price Performance

NYSE:IONQ opened at $63.54 on Monday. The firm has a market capitalization of $23.72 billion, a PE ratio of -226.93 and a beta of 3.05. The business’s fifty day moving average price is $40.37 and its 200 day moving average price is $43.17. IonQ, Inc. has a 12 month low of $25.89 and a 12 month 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). The business had revenue of $64.67 million during the quarter, compared to analysts’ expectations of $49.75 million. IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The business’s quarterly revenue was up 754.7% compared to the same quarter last year. During the same period last year, the company earned ($0.14) EPS. As a group, equities analysts anticipate that IonQ, Inc. will post -2.26 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on IONQ. Cantor Fitzgerald reissued an “overweight” rating on shares of IonQ in a research note on Monday, February 9th. Wall Street Zen raised IonQ from a “strong sell” rating to a “sell” rating in a research report on Saturday. Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of IonQ in a research note on Thursday, February 26th. Weiss Ratings raised shares of IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, Needham & Company LLC lowered their price target on shares of IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 26th. 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.63.

Check Out Our Latest Analysis on IonQ

About IonQ

(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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