IonQ, Inc. (NYSE:IONQ) Shares Sold by Saybrook Capital NC

Saybrook Capital NC cut its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 79.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,700 shares of the company's stock after selling 42,400 shares during the quarter. Saybrook Capital NC's holdings in IonQ were worth $236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IONQ. HBK Sorce Advisory LLC bought a new stake in shares of IonQ during the 1st quarter valued at $404,000. Golden State Wealth Management LLC grew its holdings in shares of IonQ by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,616 shares of the company's stock valued at $36,000 after buying an additional 808 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of IonQ by 42.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 160,094 shares of the company's stock valued at $3,533,000 after acquiring an additional 47,937 shares in the last quarter. ORG Partners LLC raised its holdings in IonQ by 348.0% in the 1st quarter. ORG Partners LLC now owns 1,120 shares of the company's stock worth $26,000 after acquiring an additional 870 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its holdings in IonQ by 91.5% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 9,385 shares of the company's stock worth $207,000 after acquiring an additional 4,485 shares during the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IONQ has been the topic of several research analyst reports. Morgan Stanley upped their target price on shares of IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. DA Davidson dropped their target price 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. Benchmark restated a "buy" rating and set a $50.00 target price on shares of IonQ in a research report on Wednesday. Finally, Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of IonQ in a research report on Wednesday, June 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.00.

IonQ Stock Performance

IONQ stock traded up $2.95 during mid-day trading on Thursday, reaching $41.06. 21,740,997 shares of the company's stock were exchanged, compared to its average volume of 19,212,057. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The stock's 50 day moving average is $35.49 and its 200 day moving average is $33.67.

IonQ (NYSE:IONQ - Get Free Report) last issued 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 753.20% and a negative return on equity of 63.35%. The firm had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. During the same period in the previous year, the firm earned ($0.19) EPS. IonQ's revenue was down .2% on a year-over-year basis. Analysts expect that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Peter Hume Chapman sold 11,965 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $41.60, for a total value of $497,744.00. Following the completion of the sale, the insider now owns 390,329 shares of the company's stock, valued at approximately $16,237,686.40. The trade was a 2.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Masi Niccolo De sold 9,280 shares of IonQ stock in a transaction on Monday, June 9th. The stock was sold at an average price of $42.23, for a total transaction of $391,894.40. Following the completion of the transaction, the chief executive officer now directly owns 711,987 shares of the company's stock, valued at approximately $30,067,211.01. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,972,201 shares of company stock valued at $350,540,009. Insiders own 5.20% 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.