IonQ, Inc. (NYSE:IONQ) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel reduced its stake in shares of IonQ, Inc. (NYSE:IONQ) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 514,699 shares of the company’s stock after selling 61,516 shares during the period. Carnegie Investment Counsel owned 0.24% of IonQ worth $21,499,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. City State Bank acquired a new position in shares of IonQ in the fourth quarter worth $36,000. Versant Capital Management Inc increased its position in IonQ by 1,348.5% during the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after purchasing an additional 890 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in IonQ in the 4th quarter valued at about $42,000. GAMMA Investing LLC raised its stake in IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after purchasing an additional 480 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new position in IonQ in the 4th quarter valued at about $216,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on IONQ shares. Craig Hallum lifted their price target on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Needham & Company LLC lifted their target price on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price target on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. DA Davidson began coverage on IonQ in a report on Thursday, December 19th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Benchmark upped their target price on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Buying and Selling at IonQ

In other news, CRO Rima Alameddine sold 21,337 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the transaction, the executive now owns 571,321 shares of the company’s stock, valued at approximately $16,985,373.33. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas G. Kramer sold 9,780 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,098 shares of company stock valued at $1,909,323. Company insiders own 11.60% of the company’s stock.

IonQ Stock Performance

IonQ stock opened at $41.65 on Friday. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The firm has a 50 day moving average price of $35.13 and a 200 day moving average price of $18.23. The company has a market cap of $9.01 billion, a price-to-earnings ratio of -51.42 and a beta of 2.43.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The company had revenue of $12.40 million for the quarter, compared to analysts’ expectations of $10.56 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The firm’s quarterly revenue was up 102.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.22) earnings per share. Sell-side analysts predict that IonQ, Inc. will post -0.86 EPS for the current 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.