Silvercrest Asset Management Group LLC Invests $209,000 in IonQ, Inc. (NYSE:IONQ)

Silvercrest Asset Management Group LLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $209,000.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of IonQ by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,374,125 shares of the company’s stock worth $892,797,000 after buying an additional 125,144 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of IonQ by 1.0% during the 4th 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of IonQ by 1,310.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company’s stock worth $103,095,000 after buying an additional 2,293,231 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of IonQ by 12.6% during the 4th quarter. Northern Trust Corp now owns 1,934,625 shares of the company’s stock worth $80,809,000 after buying an additional 216,752 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of IonQ by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company’s stock worth $68,740,000 after buying an additional 31,638 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director William F. Scannell bought 93,066 shares of IonQ stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $21.81 per share, with a total value of $2,029,769.46. Following the transaction, the director now directly owns 135,047 shares of the company’s stock, valued at approximately $2,945,375.07. The trade was a 221.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Hume Chapman sold 2,000,000 shares of the 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 transaction, the insider now directly owns 414,363 shares of the company’s stock, valued at $7,756,875.36. This represents a 82.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on IONQ shares. Morgan Stanley upped their price target on IonQ from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. DA Davidson dropped 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, April 14th. Needham & Company LLC dropped their price target on IonQ from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, Benchmark dropped their price target on IonQ from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.33.

IonQ Price Performance

NYSE:IONQ opened at $33.54 on Thursday. The firm has a 50-day moving average of $26.94 and a 200-day moving average of $31.45. The company has a market cap of $7.47 billion, a PE ratio of -41.41 and a beta of 2.46. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.14. The company had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.51 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) earnings per share. On average, equities research analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

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.