Lansdowne Partners UK LLP Has $41.83 Million Stock Holdings in IonQ, Inc. (NYSE:IONQ)

Lansdowne Partners UK LLP cut its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 23.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,001,513 shares of the company's stock after selling 313,434 shares during the period. IonQ accounts for about 3.0% of Lansdowne Partners UK LLP's investment portfolio, making the stock its 7th largest position. Lansdowne Partners UK LLP owned approximately 0.46% of IonQ worth $41,833,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new stake in IonQ in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its holdings in shares of IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after buying an additional 501 shares during the period. Golden State Wealth Management LLC bought a new position in IonQ in the 4th quarter worth $34,000. City State Bank acquired a new position in IonQ during the 4th quarter worth $36,000. Finally, Hemington Wealth Management acquired a new stake in shares of IonQ in the fourth quarter valued at about $37,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IONQ has been the subject of several recent analyst reports. The Goldman Sachs Group increased their target price on IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Craig Hallum increased their price target on shares of IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a report on Friday, December 20th. Benchmark reaffirmed a "buy" rating and set a $45.00 price objective on shares of IonQ in a research report on Monday, March 31st. Needham & Company LLC restated a "buy" rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. Finally, DA Davidson decreased their price objective on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a report on Monday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, IonQ currently has an average rating of "Moderate Buy" and a consensus price target of $41.80.

IonQ Trading Down 3.5 %

Shares of IONQ traded down $0.89 on Wednesday, reaching $24.51. 5,400,677 shares of the company's stock were exchanged, compared to its average volume of 24,282,387. The business has a 50 day moving average price of $26.63 and a two-hundred day moving average price of $28.45. The stock has a market capitalization of $5.46 billion, a P/E ratio of -30.26 and a beta of 2.50. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74.

Insider Buying and Selling at IonQ

In other news, CFO Thomas G. Kramer sold 11,712 shares of IonQ stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total transaction of $217,491.84. Following the transaction, the chief financial officer now owns 944,510 shares in the company, valued at $17,539,550.70. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William F. Scannell bought 93,066 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the purchase, the director now owns 135,047 shares in the company, valued at $2,945,375.07. This represents a 221.69 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is currently owned by company insiders.

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.