Legal & General Group Plc Sells 4,777 Shares of IonQ, Inc. (NYSE:IONQ)

Legal & General Group Plc decreased its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 256,117 shares of the company’s stock after selling 4,777 shares during the period. Legal & General Group Plc owned approximately 0.12% of IonQ worth $10,701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. PDS Planning Inc grew its holdings in shares of IonQ by 2.6% during the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company’s stock worth $494,000 after purchasing an additional 300 shares in the last quarter. Allworth Financial LP grew its stake in IonQ by 15.2% in the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company’s stock worth $116,000 after buying an additional 363 shares in the last quarter. GAMMA Investing LLC grew its stake in IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock worth $47,000 after buying an additional 480 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock worth $27,000 after buying an additional 501 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of IonQ during the 4th quarter valued at $26,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at IonQ

In related news, insider Peter Hume Chapman sold 2,000,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total value of $37,440,000.00. Following the sale, the insider now directly owns 414,363 shares of the company’s stock, valued at $7,756,875.36. This trade represents a 82.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William F. Scannell purchased 93,066 shares of IonQ stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the acquisition, the director now owns 135,047 shares in the company, valued at $2,945,375.07. This trade represents a 221.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on IONQ. Benchmark reissued a “buy” rating and issued a $45.00 target price on shares of IonQ in a research note on Monday, March 31st. DA Davidson reduced their price objective on IonQ from $50.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday. The Goldman Sachs Group boosted their target price on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. Finally, Craig Hallum upped their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.80.

IonQ Stock Down 3.3 %

Shares of NYSE IONQ opened at $24.56 on Thursday. The firm’s fifty day moving average is $26.31 and its 200 day moving average is $28.42. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The company has a market cap of $5.47 billion, a price-to-earnings ratio of -30.32 and a beta of 2.50.

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.