Captrust Financial Advisors Lowers Position in IonQ, Inc. (NYSE:IONQ)

Captrust Financial Advisors decreased its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 82.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arizona State Retirement System increased its stake in shares of IonQ by 3.6% during the second quarter. Arizona State Retirement System now owns 49,550 shares of the company’s stock valued at $348,000 after purchasing an additional 1,731 shares in the last quarter. Verity Asset Management Inc. increased its position in shares of IonQ by 12.4% during the third quarter. Verity Asset Management Inc. now owns 33,898 shares of the company’s stock valued at $296,000 after acquiring an additional 3,736 shares in the last quarter. Quest Partners LLC increased its position in shares of IonQ by 4,824.2% during the second quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock valued at $46,000 after acquiring an additional 6,368 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of IonQ by 40.6% during the second quarter. Principal Financial Group Inc. now owns 26,801 shares of the company’s stock valued at $188,000 after acquiring an additional 7,744 shares in the last quarter. Finally, Creative Planning increased its position in shares of IonQ by 47.8% during the third quarter. Creative Planning now owns 24,364 shares of the company’s stock valued at $213,000 after acquiring an additional 7,878 shares in the last quarter. Institutional investors own 41.42% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

IONQ has been the subject of several analyst reports. Craig Hallum raised their price target on shares of IonQ from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC boosted their target price 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. Finally, Benchmark boosted their target price on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

IonQ Price Performance

Shares of IONQ stock opened at $41.80 on Tuesday. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $42.81. The firm has a fifty day moving average price of $23.26 and a 200-day moving average price of $13.15. The company has a market cap of $9.05 billion, a price-to-earnings ratio of -51.60 and a beta of 2.49.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) 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 business had revenue of $12.40 million for the quarter, compared to the consensus estimate of $10.56 million. During the same period in the previous year, the firm earned ($0.22) EPS. The company’s revenue was up 102.1% on a year-over-year basis. Equities research analysts expect that IonQ, Inc. will post -0.86 EPS for the current 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.