Rockefeller Capital Management L.P. Sells 192,700 Shares of IonQ, Inc. (NYSE:IONQ)

Rockefeller Capital Management L.P. trimmed its stake in IonQ, Inc. (NYSE:IONQ) by 44.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 244,896 shares of the company’s stock after selling 192,700 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in IonQ were worth $10,229,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in IonQ by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 21,374,125 shares of the company’s stock worth $892,797,000 after purchasing an additional 125,144 shares in the last quarter. Geode Capital Management LLC raised its holdings in IonQ by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 4,466,094 shares of the company’s stock worth $186,593,000 after buying an additional 45,942 shares during the last quarter. State Street Corp lifted its stake in shares of IonQ by 1.8% in the third quarter. State Street Corp now owns 4,260,880 shares of the company’s stock worth $37,240,000 after buying an additional 75,596 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of IonQ by 1,310.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company’s stock valued at $103,095,000 after buying an additional 2,293,231 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of IonQ by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company’s stock valued at $68,740,000 after acquiring an additional 31,638 shares in the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at IonQ

In other news, Director William F. Scannell bought 93,066 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the transaction, the director now owns 135,047 shares of the company’s stock, valued at approximately $2,945,375.07. This represents a 221.69 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Rima Alameddine sold 1,407 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $21.20, for a total value of $29,828.40. Following the transaction, the executive now owns 592,615 shares of the company’s stock, valued at $12,563,438. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,033,166 shares of company stock valued at $38,059,593 over the last three months. Corporate insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

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

IonQ Trading Down 3.3 %

NYSE IONQ opened at $24.56 on Thursday. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of -30.32 and a beta of 2.50. The company’s 50 day moving average is $26.31 and its two-hundred day moving average is $28.42.

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.