Hamilton Lane Advisors LLC Has $5.74 Million Holdings in IonQ, Inc. (NYSE:IONQ)

Hamilton Lane Advisors LLC lowered its stake in IonQ, Inc. (NYSE:IONQ - Free Report) by 47.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 260,000 shares of the company's stock after selling 237,691 shares during the quarter. IonQ comprises approximately 4.9% of Hamilton Lane Advisors LLC's holdings, making the stock its 4th largest holding. Hamilton Lane Advisors LLC owned 0.12% of IonQ worth $5,738,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in IonQ by 1,310.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock valued at $103,095,000 after buying an additional 2,293,231 shares in the last quarter. Chevy Chase Trust Holdings LLC purchased a new stake in IonQ in the fourth quarter valued at $32,060,000. Ameriprise Financial Inc. acquired a new position in shares of IonQ in the fourth quarter worth about $29,519,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of IonQ during the 4th quarter worth approximately $29,513,000. Finally, Invesco Ltd. grew its position in shares of IonQ by 439.3% in the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company's stock valued at $35,800,000 after purchasing an additional 698,146 shares during the period. Institutional investors own 41.42% of the company's stock.

Analyst Ratings Changes

IONQ has been the subject of several recent research reports. Benchmark cut their price target on IonQ from $45.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC decreased 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. DA Davidson lowered their price target on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Morgan Stanley lifted their target price on shares of IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.33.

IonQ Price Performance

Shares of NYSE IONQ traded down $0.19 on Wednesday, hitting $39.62. The company's stock had a trading volume of 12,021,737 shares, compared to its average volume of 17,913,680. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of -48.91 and a beta of 2.46. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The stock has a 50 day moving average of $30.58 and a 200-day moving average of $32.88.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.57 million during the quarter, compared to analysts' expectations of $7.51 million. During the same period in the previous year, the company earned ($0.19) EPS. The business's quarterly revenue was down .2% compared to the same quarter last year. Sell-side analysts expect that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CRO Rima Alameddine sold 1,407 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $21.20, for a total value of $29,828.40. Following the sale, the executive now directly owns 592,615 shares in the company, valued at $12,563,438. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William F. Scannell bought 93,066 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $21.81 per share, for a total transaction of $2,029,769.46. Following the purchase, the director now directly owns 135,047 shares in the company, valued at $2,945,375.07. This represents a 221.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 2,033,166 shares of company stock worth $38,059,593. Corporate insiders own 11.60% of the company's stock.

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.