Captrust Financial Advisors Acquires 23,620 Shares of IonQ, Inc. (NYSE:IONQ)

Captrust Financial Advisors boosted its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 118.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,547 shares of the company's stock after purchasing an additional 23,620 shares during the period. Captrust Financial Advisors' holdings in IonQ were worth $1,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new stake in shares of IonQ during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC grew its holdings in IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after purchasing an additional 501 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of IonQ during the fourth quarter valued at $33,000. Golden State Wealth Management LLC purchased a new stake in shares of IonQ during the fourth quarter valued at $34,000. Finally, City State Bank purchased a new stake in shares of IonQ during the fourth quarter valued at $36,000. Institutional investors own 41.42% of the company's stock.

Insider Buying and Selling at IonQ

In other IonQ news, CRO Rima Alameddine sold 20,047 shares of the firm's stock in a transaction dated 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 transaction, the executive now directly owns 572,568 shares in the company, valued at $10,632,587.76. This trade represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William F. Scannell bought 93,066 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the acquisition, the director now owns 135,047 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. Company insiders own 11.60% of the company's stock.

Analyst Ratings Changes

IONQ has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. DA Davidson reduced their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Benchmark dropped their price objective on shares of IonQ from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Needham & Company LLC dropped their price target on shares of IonQ from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.33.

IonQ Stock Performance

Shares of IONQ opened at $32.86 on Tuesday. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The company's 50 day simple moving average is $25.11 and its 200 day simple moving average is $30.80. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of -40.57 and a beta of 2.46.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.14. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The firm had revenue of $7.57 million during the quarter, compared to analyst estimates of $7.51 million. During the same quarter in the prior year, the business posted ($0.19) earnings per share. IonQ's revenue for the quarter was down .2% compared to the same quarter last year. Equities analysts expect that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

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.

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