IonQ, Inc. (NYSE:IONQ) is Hamilton Lane Advisors LLC’s 2nd Largest Position

Hamilton Lane Advisors LLC reduced its stake in IonQ, Inc. (NYSE:IONQ) by 33.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 497,691 shares of the company’s stock after selling 245,131 shares during the quarter. IonQ comprises approximately 20.1% of Hamilton Lane Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Hamilton Lane Advisors LLC owned approximately 0.23% of IonQ worth $20,789,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Carnegie Investment Counsel purchased a new position in IonQ in the 3rd quarter valued at about $5,036,000. Yong Rong HK Asset Management Ltd acquired a new position in shares of IonQ in the third quarter valued at approximately $3,749,000. Main Management ETF Advisors LLC purchased a new position in shares of IonQ during the third quarter valued at approximately $1,865,000. Geode Capital Management LLC boosted its position in IonQ by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock worth $38,640,000 after acquiring an additional 199,360 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in IonQ in the 3rd quarter worth approximately $1,631,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Price Performance

Shares of NYSE:IONQ opened at $39.29 on Thursday. The firm has a market capitalization of $8.50 billion, a PE ratio of -48.51 and a beta of 2.43. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The business has a 50-day moving average of $34.67 and a two-hundred day moving average of $18.09.

IonQ (NYSE:IONQ) last posted its earnings results 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). The business had revenue of $12.40 million for the quarter, compared to analyst estimates of $10.56 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The firm’s revenue for the quarter was up 102.1% compared to the same quarter last year. During the same period last year, the company posted ($0.22) EPS. As a group, research analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IONQ. DA Davidson initiated coverage on IonQ in a research note on Thursday, December 19th. They set a “buy” rating and a $50.00 price target on the stock. The Goldman Sachs Group raised their price target on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Craig Hallum upped their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Benchmark raised their target price on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC upped their price target on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.00.

Insider Activity at IonQ

In other news, CRO Rima Alameddine sold 11,375 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $13.72, for a total value of $156,065.00. Following the completion of the transaction, the executive now directly owns 627,533 shares in the company, valued at approximately $8,609,752.76. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 414,363 shares of the company’s stock, valued at approximately $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 90,473 shares of company stock worth $2,065,388. Corporate 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.