Zacks Investment Management Has $1.89 Million Stake in IonQ, Inc. (NYSE:IONQ)

Zacks Investment Management lowered its position in IonQ, Inc. (NYSE:IONQ) by 70.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,149 shares of the company’s stock after selling 109,552 shares during the period. Zacks Investment Management’s holdings in IonQ were worth $1,886,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new stake in shares of IonQ during the 4th quarter worth about $26,000. Smartleaf Asset Management LLC grew its holdings in IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after purchasing an additional 501 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of IonQ in the fourth quarter valued at approximately $34,000. City State Bank acquired a new stake in shares of IonQ in the fourth quarter worth $36,000. Finally, Sandy Spring Bank boosted its holdings in shares of IonQ by 350.0% during the 4th quarter. Sandy Spring Bank now owns 900 shares of the company’s stock worth $38,000 after buying an additional 700 shares during the period. Institutional investors own 41.42% of the company’s stock.

Insider Activity at IonQ

In other news, CFO Thomas G. Kramer sold 11,712 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $217,491.84. Following the completion of the transaction, the chief financial officer now directly owns 944,510 shares of the company’s stock, valued at approximately $17,539,550.70. This represents a 1.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Rima Alameddine sold 20,047 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $372,272.79. Following the completion of the sale, the executive now directly owns 572,568 shares in the company, valued at approximately $10,632,587.76. This represents a 3.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is owned by corporate insiders.

IonQ Trading Up 5.1 %

Shares of IONQ stock opened at $25.81 on Friday. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The company has a market capitalization of $5.75 billion, a P/E ratio of -31.87 and a beta of 2.50. The stock has a 50 day moving average of $25.76 and a two-hundred day moving average of $28.66.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IONQ. The Goldman Sachs Group lifted their target price on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Benchmark reissued a “buy” rating and set a $45.00 price objective on shares of IonQ in a research report on Monday, March 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 target price on shares of IonQ in a report on Thursday, February 27th. Craig Hallum upped their price target on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, DA Davidson lowered their price objective on shares of IonQ from $50.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, IonQ has an average rating of “Moderate Buy” and an average target price of $41.80.

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.