Natixis Cuts Position in IonQ, Inc. (NYSE:IONQ)

Natixis decreased its position in shares of IonQ, Inc. (NYSE:IONQ) by 19.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,648 shares of the company’s stock after selling 390 shares during the period. Natixis’ holdings in IonQ were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IONQ. JPMorgan Chase & Co. raised its stake 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 worth $103,095,000 after acquiring an additional 2,293,231 shares in the last quarter. Chevy Chase Trust Holdings LLC purchased a new position in IonQ in the 4th quarter worth $32,060,000. Arrowstreet Capital Limited Partnership bought a new stake in IonQ in the fourth quarter worth $29,513,000. Invesco Ltd. boosted its position in IonQ by 439.3% during the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company’s stock valued at $35,800,000 after buying an additional 698,146 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of IonQ during the fourth quarter valued at about $19,242,000. Institutional investors own 41.42% of the company’s stock.

Insider Activity at IonQ

In other news, insider Peter Hume Chapman sold 2,000,000 shares of IonQ stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the transaction, the insider now directly owns 414,363 shares in the company, valued at approximately $7,756,875.36. This trade represents a 82.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Rima Alameddine sold 1,407 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $21.20, for a total transaction of $29,828.40. Following the completion of the transaction, the executive now owns 592,615 shares in the company, valued at approximately $12,563,438. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,033,166 shares of company stock worth $38,059,593 over the last 90 days. 11.60% of the stock is owned by company insiders.

IonQ Trading Up 1.9 %

Shares of IonQ stock opened at $28.93 on Friday. The company’s fifty day simple moving average is $24.73 and its two-hundred day simple moving average is $29.26. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The company has a market cap of $6.45 billion, a P/E ratio of -35.72 and a beta of 2.50.

Wall Street Analyst Weigh In

IONQ has been the subject of a number of recent research reports. The Goldman Sachs Group boosted 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. DA Davidson dropped their price objective on IonQ from $50.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Benchmark lowered their price target on shares of IonQ from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $54.00 price target on shares of IonQ in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, IonQ currently has a consensus rating of “Moderate Buy” and an average price target of $40.80.

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.