IonQ, Inc. $IONQ Shares Sold by IFP Advisors Inc

IFP Advisors Inc reduced its stake in shares of IonQ, Inc. (NYSE:IONQ) by 89.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,308 shares of the company’s stock after selling 28,654 shares during the quarter. IFP Advisors Inc’s holdings in IonQ were worth $203,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada increased its stake in IonQ by 12.5% during the 1st quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock valued at $2,962,000 after buying an additional 14,898 shares during the period. Amundi acquired a new stake in shares of IonQ in the 1st quarter worth approximately $630,000. AQR Capital Management LLC boosted its holdings in shares of IonQ by 106.2% in the first quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock valued at $1,265,000 after acquiring an additional 29,513 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of IonQ by 24.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock valued at $9,932,000 after acquiring an additional 87,428 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in shares of IonQ by 30.3% during the first quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock valued at $1,032,000 after acquiring an additional 10,881 shares during the period. Institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

Shares of NYSE:IONQ opened at $27.51 on Friday. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of -11.05 and a beta of 2.61. IonQ, Inc. has a 1-year low of $18.81 and a 1-year high of $84.64. The company has a 50 day moving average price of $36.52 and a 200 day moving average price of $49.33.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IONQ shares. DA Davidson dropped their target price on IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. JPMorgan Chase & Co. lowered their price target on IonQ from $47.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, February 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of IonQ in a research note on Monday, February 9th. Weiss Ratings restated a “sell (d-)” rating on shares of IonQ in a report on Thursday, January 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of IonQ in a research note on Thursday, February 26th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.45.

Insider Activity

In other 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 transaction of $93,352.00. Following the completion of the sale, the insider owned 83,963 shares in the company, valued at approximately $2,799,326.42. This represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert T. Cardillo sold 5,165 shares of IonQ stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $39.44, for a total value of $203,707.60. Following the completion of the transaction, the insider owned 112,291 shares in the company, valued at $4,428,757.04. The trade was a 4.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 8,581 shares of company stock worth $316,156. Insiders own 5.20% of the company’s stock.

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. 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.