Carnegie Investment Counsel Has $10.14 Million Position in IonQ, Inc. (NYSE:IONQ)

Carnegie Investment Counsel lessened its stake in IonQ, Inc. (NYSE:IONQ - Free Report) by 13.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 445,585 shares of the company's stock after selling 69,114 shares during the quarter. Carnegie Investment Counsel owned 0.20% of IonQ worth $10,137,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mariner LLC grew its position in IonQ by 0.6% in the fourth quarter. Mariner LLC now owns 54,479 shares of the company's stock worth $2,276,000 after acquiring an additional 350 shares in the last quarter. Future Financial Wealth Managment LLC grew its position in IonQ by 50.0% in the first quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock worth $33,000 after acquiring an additional 500 shares in the last quarter. Miracle Mile Advisors LLC grew its position in IonQ by 2.5% in the first quarter. Miracle Mile Advisors LLC now owns 20,500 shares of the company's stock worth $452,000 after acquiring an additional 500 shares in the last quarter. Measured Risk Portfolios Inc. bought a new stake in IonQ in the fourth quarter worth approximately $27,000. Finally, Signaturefd LLC grew its position in IonQ by 20.7% in the first quarter. Signaturefd LLC now owns 4,048 shares of the company's stock worth $89,000 after acquiring an additional 694 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

Insider Activity at IonQ

In other news, CFO Thomas G. Kramer sold 216,000 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $38.11, for a total transaction of $8,231,760.00. Following the transaction, the chief financial officer directly owned 718,516 shares in the company, valued at approximately $27,382,644.76. This represents a 23.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Hume Chapman sold 3,581,193 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $38.13, for a total transaction of $136,550,889.09. Following the transaction, the insider owned 390,329 shares in the company, valued at $14,883,244.77. The trade was a 90.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,191,850 shares of company stock valued at $360,519,930 over the last ninety days. Company insiders own 5.20% of the company's stock.

IonQ Trading Down 1.9%

Shares of IonQ stock traded down $0.84 during mid-day trading on Friday, reaching $43.07. 13,333,273 shares of the stock were exchanged, compared to its average volume of 20,775,624. The company has a market cap of $11.27 billion, a price-to-earnings ratio of -28.90 and a beta of 2.55. The firm has a 50-day simple moving average of $41.70 and a 200 day simple moving average of $33.99. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. The business had revenue of $7.57 million during the quarter, compared to analysts' expectations of $7.51 million. IonQ had a negative net margin of 753.20% and a negative return on equity of 63.35%. The firm's revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the company posted ($0.19) EPS. On average, research analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Benchmark boosted their target price on shares of IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. 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 report on Thursday, May 8th. DA Davidson decreased their price objective on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th. Cantor Fitzgerald assumed coverage on shares of IonQ in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $45.00 price target for the company. Finally, Needham & Company LLC reissued a "buy" rating and issued a $50.00 price target on shares of IonQ in a report on Wednesday, June 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, IonQ currently has an average rating of "Moderate Buy" and an average target price of $41.43.

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.