IonQ, Inc. (NYSE:IONQ) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in IonQ, Inc. (NYSE:IONQ) by 5.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 20,759 shares of the company’s stock after selling 1,176 shares during the period. Janney Montgomery Scott LLC’s holdings in IonQ were worth $867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IONQ. Geode Capital Management LLC grew its stake in shares of IonQ by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock valued at $38,640,000 after acquiring an additional 199,360 shares in the last quarter. State Street Corp increased its stake in shares of IonQ by 1.8% in the third quarter. State Street Corp now owns 4,260,880 shares of the company’s stock valued at $37,240,000 after purchasing an additional 75,596 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of IonQ by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock valued at $14,107,000 after purchasing an additional 135,851 shares in the last quarter. FMR LLC raised its holdings in IonQ by 7.2% during the third quarter. FMR LLC now owns 612,625 shares of the company’s stock worth $5,354,000 after purchasing an additional 41,125 shares in the last quarter. Finally, Carnegie Investment Counsel bought a new stake in IonQ in the third quarter worth about $5,036,000. 41.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Peter Hume Chapman sold 13,106 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the sale, the chief executive officer now owns 414,363 shares of the company’s stock, valued at approximately $12,319,011.99. This represents a 3.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the sale, the chief financial officer now owns 926,114 shares of the company’s stock, valued at $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. In the last quarter, insiders have sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is owned by company insiders.

IonQ Stock Down 2.2 %

Shares of IONQ opened at $41.38 on Friday. The firm has a market capitalization of $8.95 billion, a PE ratio of -51.08 and a beta of 2.41. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The stock’s fifty day simple moving average is $39.02 and its 200-day simple moving average is $21.67.

IonQ (NYSE:IONQ) last posted its earnings results 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). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company had revenue of $12.40 million for the quarter, compared to analyst estimates of $10.56 million. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. IonQ’s quarterly revenue was up 102.1% compared to the same quarter last year. Analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.