IonQ, Inc. (NYSE:IONQ) Shares Sold by Amazon Com Inc.

Amazon Com Inc. trimmed its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 31.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,927,061 shares of the company's stock after selling 889,192 shares during the period. IonQ makes up about 0.7% of Amazon Com Inc.'s holdings, making the stock its 4th biggest holding. Amazon Com Inc. owned 0.95% of IonQ worth $28,675,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Aurora Private Wealth Inc. purchased a new stake in IonQ during the third quarter worth approximately $151,000. Friedenthal Financial purchased a new stake in IonQ during the 3rd quarter worth $636,000. DnB Asset Management AS increased its holdings in IonQ by 55.8% in the 3rd quarter. DnB Asset Management AS now owns 31,387 shares of the company's stock valued at $467,000 after purchasing an additional 11,239 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new position in IonQ in the third quarter valued at about $417,000. Finally, National Bank of Canada FI grew its stake in shares of IonQ by 806.4% in the third quarter. National Bank of Canada FI now owns 6,345 shares of the company's stock valued at $93,000 after buying an additional 5,645 shares in the last quarter. 38.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IONQ shares. Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 price target on shares of IonQ in a report on Wednesday, September 20th. Morgan Stanley decreased their price target on shares of IonQ from $16.00 to $12.00 and set an "equal weight" rating for the company in a research report on Monday, October 30th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

Insider Activity

In other news, CTO Jungsang Kim sold 24,547 shares of the business's stock in a transaction on Monday, December 11th. The shares were sold at an average price of $13.21, for a total transaction of $324,265.87. Following the completion of the transaction, the chief technology officer now owns 6,621,788 shares of the company's stock, valued at $87,473,819.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other IonQ news, CTO Jungsang Kim sold 24,547 shares of the business's stock in a transaction on Monday, December 11th. The stock was sold at an average price of $13.21, for a total transaction of $324,265.87. Following the completion of the transaction, the chief technology officer now owns 6,621,788 shares in the company, valued at approximately $87,473,819.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Hume Chapman sold 56,152 shares of the business's stock in a transaction on Monday, December 11th. The stock was sold at an average price of $13.21, for a total value of $741,767.92. Following the transaction, the chief executive officer now owns 439,748 shares of the company's stock, valued at approximately $5,809,071.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,336 shares of company stock valued at $2,408,659. 13.00% of the stock is currently owned by company insiders.

IonQ Stock Performance

IonQ stock traded down $0.08 during mid-day trading on Wednesday, reaching $13.44. The company's stock had a trading volume of 4,054,654 shares, compared to its average volume of 8,702,785. The business has a 50 day moving average price of $12.43 and a 200-day moving average price of $13.94. IonQ, Inc. has a twelve month low of $3.04 and a twelve month high of $21.60.

IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly earnings results on Wednesday, November 8th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.09). IonQ had a negative net margin of 681.33% and a negative return on equity of 22.83%. The business had revenue of $6.14 million during the quarter, compared to analyst estimates of $5.00 million. During the same period last year, the firm posted ($0.12) earnings per share. The company's quarterly revenue was up 122.1% on a year-over-year basis. Research analysts expect that IonQ, Inc. will post -0.33 earnings per share for the current year.

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.

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