Hamilton Lane Advisors LLC Lowers Stock Position in IonQ, Inc. (NYSE:IONQ)

Hamilton Lane Advisors LLC lowered its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 33.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 497,691 shares of the company's stock after selling 245,131 shares during the period. IonQ accounts for approximately 20.1% of Hamilton Lane Advisors LLC's portfolio, making the stock its 2nd largest position. Hamilton Lane Advisors LLC owned 0.23% of IonQ worth $20,789,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in IonQ by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company's stock worth $38,640,000 after purchasing an additional 199,360 shares in the last quarter. State Street Corp increased its stake in shares of IonQ by 1.8% in the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company's stock valued at $37,240,000 after acquiring an additional 75,596 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of IonQ by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company's stock valued at $14,107,000 after acquiring an additional 135,851 shares in the last quarter. FMR LLC lifted its position in shares of IonQ by 7.2% during the 3rd quarter. FMR LLC now owns 612,625 shares of the company's stock valued at $5,354,000 after acquiring an additional 41,125 shares during the period. Finally, Carnegie Investment Counsel bought a new position in IonQ during the third quarter worth $5,036,000. 41.42% of the stock is owned by institutional investors.

Insider Buying and Selling at IonQ

In other IonQ news, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $389,641.38. Following the transaction, the chief executive officer now owns 414,363 shares of the company's stock, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the transaction, the chief financial officer now owns 926,114 shares in the company, valued at $27,524,108.08. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,473 shares of company stock worth $2,065,388. Corporate insiders own 11.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Needham & Company LLC lifted their price target on shares of IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Benchmark boosted their target price on IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. DA Davidson assumed coverage on IonQ in a report on Thursday, December 19th. They issued a "buy" rating and a $50.00 price target on the stock. The Goldman Sachs Group raised their price objective on IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Finally, Craig Hallum upped their target price on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

IonQ Trading Up 5.7 %

NYSE IONQ traded up $2.26 during trading hours on Thursday, hitting $41.65. The company's stock had a trading volume of 46,090,343 shares, compared to its average volume of 51,709,930. The company has a market capitalization of $9.01 billion, a PE ratio of -51.42 and a beta of 2.43. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The company's 50-day simple moving average is $35.13 and its two-hundred day simple moving average is $18.23.

IonQ (NYSE:IONQ - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. During the same quarter in the prior year, the business earned ($0.22) EPS. The firm's revenue for the quarter was up 102.1% compared to the same quarter last year. Research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

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.