Rockefeller Capital Management L.P. Cuts Position in IonQ, Inc. (NYSE:IONQ)
Rockefeller Capital Management L.P. has reduced its stake in IonQ, Inc. (NYSE:IONQ) by 44% during Q4, now holding 244,896 shares valued at approximately $10.23 million. Other institutional investors have also adjusted their positions, with HighTower Advisors increasing their stake by 29.3%. Insider trading includes Director William F. Scannell purchasing 93,066 shares, while CFO Thomas G. Kramer sold 11,712 shares. Analysts have varied ratings on IonQ, with price targets ranging from $30 to $54, reflecting a consensus rating of "Moderate Buy."
Rockefeller Capital Management L.P. decreased its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 44.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 244,896 shares of the company's stock after selling 192,700 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.11% of IonQ worth $10,229,000 at the end of the most recent reporting period.
- IONQ & RGTI Join DARPA Quantum Initiative: High Stakes Are Ahead
Several other hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its holdings in shares of IonQ by 29.3% during the 3rd quarter. HighTower Advisors LLC now owns 18,938 shares of the company's stock valued at $166,000 after buying an additional 4,288 shares in the last quarter. State Street Corp raised its stake in shares of IonQ by 1.8% during the third quarter. State Street Corp now owns 4,260,880 shares of the company's stock worth $37,240,000 after acquiring an additional 75,596 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of IonQ by 4.7% in the 3rd 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. Versant Capital Management Inc boosted its stake in shares of IonQ by 1,348.5% in the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company's stock valued at $40,000 after purchasing an additional 890 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of IonQ by 73.2% during the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company's stock valued at $47,000 after purchasing an additional 480 shares during the last quarter. Institutional investors own 41.42% of the company's stock.
Insider Buying and Selling at IonQ
In other news, Director William F. Scannell purchased 93,066 shares of IonQ stock in a transaction that occurred on Wednesday, March 12th. The shares were bought 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 directly owns 135,047 shares in the company, valued at approximately $2,945,375.07. This trade represents a 221.69 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas G. Kramer sold 11,712 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $217,491.84. Following the transaction, the chief financial officer now directly owns 944,510 shares of the company's stock, valued at $17,539,550.70. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, 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.
Analyst Ratings Changes
- Quantum Computing: The $6.5 Billion Opportunity You Can’t Ignore
Several analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Benchmark restated a "buy" rating and set a $45.00 target price on shares of IonQ in a report on Monday, March 31st. DA Davidson decreased their price target on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday. Needham & Company LLC reissued a "buy" rating and set a $54.00 price objective on shares of IonQ in a research note on Thursday, February 27th. Finally, Craig Hallum lifted their target price on shares of IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.80.
Check Out Our Latest Research Report on IONQ
IonQ Stock Down 3.3 %
- Quantum Gamble? Is IonQ's Stock an Opportunity or a Mirage?
Shares of IonQ stock opened at $24.56 on Thursday. The business has a 50 day moving average of $26.31 and a 200 day moving average of $28.42. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The company has a market cap of $5.47 billion, a PE ratio of -30.32 and a beta of 2.50.
About IonQ
(Free Report)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.
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