SG Americas Securities LLC Reduces Stock Holdings in IonQ, Inc. $IONQ

SG Americas Securities LLC decreased its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 77.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,727 shares of the company's stock after selling 29,502 shares during the period. SG Americas Securities LLC's holdings in IonQ were worth $392,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of IONQ. Stone House Investment Management LLC lifted its stake in IonQ by 700.0% in the third quarter. Stone House Investment Management LLC now owns 400 shares of the company's stock valued at $25,000 after purchasing an additional 350 shares during the last quarter. Ameriflex Group Inc. lifted its stake in IonQ by 485.7% in the third quarter. Ameriflex Group Inc. now owns 410 shares of the company's stock valued at $25,000 after purchasing an additional 340 shares during the last quarter. Hilltop National Bank lifted its stake in IonQ by 112.5% in the third quarter. Hilltop National Bank now owns 425 shares of the company's stock valued at $26,000 after purchasing an additional 225 shares during the last quarter. Financial Consulate Inc. purchased a new position in IonQ in the third quarter valued at approximately $29,000. Finally, UMB Bank n.a. purchased a new position in IonQ in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 41.42% of the company's stock.

IonQ Price Performance

NYSE:IONQ opened at $29.73 on Tuesday. The company has a market cap of $10.90 billion, a P/E ratio of -11.94 and a beta of 2.80. The stock's fifty day moving average price is $32.77 and its two-hundred day moving average price is $46.54. IonQ, Inc. has a 1 year low of $23.49 and a 1 year high of $84.64.

Insiders Place Their Bets

In other IonQ news, insider John W. Raymond sold 2,800 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $33.34, for a total transaction of $93,352.00. Following the sale, the insider owned 83,963 shares in the company, valued at $2,799,326.42. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert T. Cardillo sold 5,165 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $39.44, for a total value of $203,707.60. Following the sale, the insider owned 112,291 shares in the company, valued at approximately $4,428,757.04. This represents a 4.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,581 shares of company stock worth $316,156 over the last 90 days. Corporate insiders own 5.20% of the company's stock.

Wall Street Analysts Forecast Growth

IONQ has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of IonQ from $47.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, February 26th. Jefferies Financial Group initiated coverage on shares of IonQ in a research note on Tuesday, December 16th. They issued a "buy" rating and a $100.00 target price for the company. DA Davidson reduced their target price on shares of IonQ from $55.00 to $35.00 and set a "neutral" rating for the company in a research note on Thursday, February 26th. Needham & Company LLC reduced their target price on shares of IonQ from $80.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of IonQ in a research note on Monday, February 9th. 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $69.45.

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.

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