Saybrook Capital NC Lowers Position in IonQ, Inc. (NYSE:IONQ)

Saybrook Capital NC lessened its position in IonQ, Inc. (NYSE:IONQ) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,100 shares of the company’s stock after selling 5,400 shares during the quarter. IonQ makes up about 0.6% of Saybrook Capital NC’s investment portfolio, making the stock its 25th largest holding. Saybrook Capital NC’s holdings in IonQ were worth $2,218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IONQ. Charles Schwab Investment Management Inc. raised its stake in 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 buying an additional 135,851 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in IonQ by 34.2% during the third quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock valued at $3,825,000 after buying an additional 111,435 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of IonQ in the 3rd quarter worth $1,631,000. Prospera Financial Services Inc increased its holdings in shares of IonQ by 196.1% in the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock worth $337,000 after purchasing an additional 25,502 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of IonQ by 1.8% in the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company’s stock worth $37,240,000 after purchasing an additional 75,596 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insider Buying and Selling

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was 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 approximately $27,524,108.08. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the sale, the executive now directly owns 571,321 shares of the company’s stock, valued at $16,985,373.33. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,223 shares of company stock valued at $1,314,652 over the last 90 days. Company insiders own 11.60% of the company’s stock.

IonQ Price Performance

Shares of IONQ opened at $20.69 on Friday. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The firm has a market capitalization of $4.48 billion, a P/E ratio of -25.55 and a beta of 2.50. The business has a fifty day moving average of $36.29 and a 200 day moving average of $25.39.

Wall Street Analyst Weigh In

IONQ has been the subject of a number of research analyst reports. Craig Hallum lifted their target price on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and issued a $54.00 target price on shares of IonQ in a report on Thursday, February 27th. DA Davidson raised IonQ to a “strong-buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group lifted their target price on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, Benchmark cut their price objective on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $44.80.

IonQ Company 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.