Neuberger Berman Group LLC Sells 192,242 Shares of IonQ, Inc. $IONQ

Key Points

• Neuberger Berman trimmed its IonQ stake by 71.1% in Q3, selling 192,242 shares and leaving 78,088 shares valued at about $4.80 million.
• Insider activity: Director William J. Teuber Jr. bought 3,000 shares at $38.38, while insiders have sold 30,781 shares (~$1.53M) in the past 90 days, leaving insiders with roughly 5.20% ownership.
• Analyst and market backdrop: The consensus rating is a "Moderate Buy" with an average price target of $69.45, while the stock trades around $35.69 (1‑year range $17.88–$84.64) and carries a negative P/E and a $13.09 billion market cap.

Neuberger Berman Group LLC trimmed its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 71.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,088 shares of the company's stock after selling 192,242 shares during the period. Neuberger Berman Group LLC's holdings in IonQ were worth $4,802,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IONQ. Archer Investment Corp boosted its stake in IonQ by 119.3% during the second quarter. Archer Investment Corp now owns 592 shares of the company's stock valued at $25,000 after buying an additional 322 shares during the period. Stone House Investment Management LLC raised its holdings in shares of IonQ by 700.0% in the 3rd quarter. Stone House Investment Management LLC now owns 400 shares of the company's stock valued at $25,000 after acquiring an additional 350 shares in the last quarter. Hilltop National Bank raised its holdings in shares of IonQ by 112.5% in the 3rd quarter. Hilltop National Bank now owns 425 shares of the company's stock valued at $26,000 after acquiring an additional 225 shares in the last quarter. Financial Consulate Inc. bought a new stake in shares of IonQ during the 3rd quarter valued at about $29,000. Finally, UMB Bank n.a. bought a new stake in shares of IonQ during the 3rd quarter valued at about $31,000. Institutional investors own 41.42% of the company's stock.

IonQ Price Performance

Shares of IONQ opened at $35.69 on Friday. IonQ, Inc. has a 1 year low of $17.88 and a 1 year high of $84.64. The stock has a 50 day simple moving average of $41.25 and a two-hundred day simple moving average of $50.23. The firm has a market cap of $13.09 billion, a P/E ratio of -14.33 and a beta of 2.61.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IONQ. Mizuho began coverage on shares of IonQ in a research report on Thursday, December 11th. They issued an "outperform" rating and a $90.00 price objective on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of IonQ in a research report on Thursday, January 22nd. Morgan Stanley set a $37.00 price target on shares of IonQ in a research note on Thursday, February 26th. Jefferies Financial Group initiated coverage on shares of IonQ in a report on Tuesday, December 16th. They issued a "buy" rating and a $100.00 price target on the stock. Finally, Benchmark dropped their price objective on shares of IonQ from $75.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, IonQ currently has a consensus rating of "Moderate Buy" and an average price target of $69.45.

Insider Transactions at IonQ

In other IonQ news, Director William J. Teuber, Jr. purchased 3,000 shares of the business's stock in a transaction on Friday, February 27th. The stock was acquired at an average cost of $38.38 per share, for a total transaction of $115,140.00. Following the completion of the transaction, the director directly owned 9,413 shares in the company, valued at approximately $361,270.94. This represents a 46.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert T. Cardillo sold 5,165 shares of the firm's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $39.44, for a total value of $203,707.60. Following the transaction, the insider directly owned 112,291 shares in the company, valued at $4,428,757.04. This trade represents a 4.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 30,781 shares of company stock worth $1,525,804. 5.20% of the stock is currently owned by insiders.

About IonQ

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.