IonQ, Inc. (NYSE:IONQ) Position Decreased by Captrust Financial Advisors

Captrust Financial Advisors reduced its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 82.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 19,927 shares of the company's stock after selling 92,922 shares during the period. Captrust Financial Advisors' holdings in IonQ were worth $174,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in IonQ by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company's stock valued at $14,107,000 after purchasing an additional 135,851 shares during the period. Carnegie Investment Counsel acquired a new position in IonQ in the 3rd quarter valued at about $5,036,000. Yong Rong HK Asset Management Ltd purchased a new stake in IonQ during the 3rd quarter valued at approximately $3,749,000. Rockefeller Capital Management L.P. lifted its position in IonQ by 34.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company's stock worth $3,825,000 after acquiring an additional 111,435 shares during the period. Finally, Prospera Financial Services Inc grew its stake in shares of IonQ by 196.1% in the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company's stock valued at $337,000 after purchasing an additional 25,502 shares during the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on IONQ. Craig Hallum raised their price target on IonQ from $15.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Needham & Company LLC raised their target price on IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Benchmark upped their price target on shares of IonQ from $12.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th.

IonQ Trading Up 4.8 %

Shares of IONQ traded up $2.02 during midday trading on Tuesday, reaching $43.84. 31,469,442 shares of the company were exchanged, compared to its average volume of 10,151,160. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $43.94. The stock has a 50-day moving average price of $23.95 and a 200-day moving average price of $13.40. The company has a market cap of $9.49 billion, a price-to-earnings ratio of -54.12 and a beta of 2.49.

IonQ (NYSE:IONQ - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.02). IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The business had revenue of $12.40 million for the quarter, compared to analyst estimates of $10.56 million. During the same quarter in the prior year, the business earned ($0.22) earnings per share. The firm's revenue was up 102.1% on a year-over-year basis. Equities research analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Transactions at IonQ

In related news, CEO Peter Hume Chapman sold 13,106 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the transaction, the chief executive officer now directly owns 414,363 shares in the company, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Rima Alameddine sold 9,159 shares of the business's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $10.72, for a total transaction of $98,184.48. Following the sale, the executive now owns 648,783 shares of the company's stock, valued at approximately $6,954,953.76. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,223 shares of company stock valued at $2,286,983. Insiders own 11.60% 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.