Strs Ohio Sells 1,200 Shares of IonQ, Inc. $IONQ

Strs Ohio trimmed its position in shares of IonQ, Inc. (NYSE:IONQ) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,900 shares of the company’s stock after selling 1,200 shares during the period. Strs Ohio’s holdings in IonQ were worth $1,929,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Close Asset Management Ltd bought a new position in IonQ during the 1st quarter valued at approximately $35,000. SVB Wealth LLC bought a new position in IonQ during the 1st quarter valued at approximately $35,000. Ameritas Advisory Services LLC bought a new position in IonQ during the 2nd quarter valued at approximately $46,000. Spire Wealth Management raised its holdings in shares of IonQ by 58.0% during the second quarter. Spire Wealth Management now owns 1,090 shares of the company’s stock valued at $47,000 after acquiring an additional 400 shares in the last quarter. Finally, Private Trust Co. NA bought a new position in shares of IonQ during the second quarter valued at approximately $52,000. 41.42% of the stock is owned by institutional investors.

Insider Buying and Selling at IonQ

In related news, CEO Masi Niccolo De sold 16,120 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $715,728.00. Following the completion of the sale, the chief executive officer owned 1,181,186 shares of the company’s stock, valued at $52,444,658.40. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas G. Kramer sold 64,578 shares of IonQ stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $41.82, for a total value of $2,700,651.96. Following the completion of the sale, the chief financial officer directly owned 473,302 shares of the company’s stock, valued at approximately $19,793,489.64. The trade was a 12.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 113,622 shares of company stock valued at $4,931,896. 5.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley upped their target price on IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday. Benchmark upped their price objective on shares of IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. B. Riley upped their price objective on shares of IonQ from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Needham & Company LLC increased their price target on shares of IonQ from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Finally, DA Davidson downgraded shares of IonQ from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research note on Thursday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.44.

IonQ Price Performance

Shares of IonQ stock opened at $53.32 on Wednesday. The company has a 50-day moving average of $60.72 and a 200 day moving average of $46.50. The firm has a market cap of $18.52 billion, a price-to-earnings ratio of -26.53 and a beta of 2.59. IonQ, Inc. has a 1 year low of $14.63 and a 1 year high of $84.64.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.57). IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The business had revenue of $20.69 million during the quarter, compared to the consensus estimate of $17.23 million. During the same quarter in the previous year, the business earned ($0.18) earnings per share. The firm’s revenue was up 81.6% compared to the same quarter last year. On average, equities analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

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.