Neuberger Berman Group LLC Sells 192,242 Shares of IonQ, Inc. $IONQ

Neuberger Berman Group LLC lessened its stake in shares of IonQ, Inc. (NYSE:IONQ) by 71.1% in the third quarter, HoldingsChannel.com reports. The firm owned 78,088 shares of the company’s stock after selling 192,242 shares during the quarter. Neuberger Berman Group LLC’s holdings in IonQ were worth $4,802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. SPX Gestao de Recursos Ltda purchased a new position in shares of IonQ in the third quarter worth $1,845,000. Integrity Advisory Solutions LLC purchased a new position in shares of IonQ in the third quarter valued at about $215,000. Orion Porfolio Solutions LLC bought a new position in shares of IonQ during the third quarter valued at about $631,000. GW&K Investment Management LLC purchased a new stake in shares of IonQ during the third quarter worth about $899,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of IonQ by 1,169.6% during the third quarter. Dimensional Fund Advisors LP now owns 683,226 shares of the company’s stock worth $42,050,000 after purchasing an additional 629,410 shares during the period. Institutional investors own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

IONQ has been the topic of several recent analyst reports. Needham & Company LLC cut their target price on IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Mizuho initiated coverage on IonQ in a report on Thursday, December 11th. They issued an “outperform” rating and a $90.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of IonQ in a research note on Monday, February 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of IonQ in a research note on Thursday, February 26th. Finally, Benchmark cut their price target on shares of IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, IonQ currently has a consensus rating of “Moderate Buy” and an average target price of $69.45.

IonQ Price Performance

Shares of IONQ opened at $35.69 on Friday. The company has a 50-day simple moving average of $41.25 and a two-hundred day simple moving average of $50.23. The firm has a market capitalization of $13.09 billion, a PE ratio of -14.33 and a beta of 2.61. IonQ, Inc. has a one year low of $17.88 and a one year high of $84.64.

Insider Activity

In related news, insider Robert T. Cardillo sold 5,165 shares of IonQ stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $39.44, for a total transaction of $203,707.60. Following the sale, the insider directly owned 112,291 shares in the company, valued at $4,428,757.04. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William J. Teuber, Jr. purchased 3,000 shares of IonQ stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of $38.38 per share, for a total transaction of $115,140.00. Following the completion of the purchase, the director owned 9,413 shares of the company’s stock, valued at $361,270.94. This trade represents a 46.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 30,781 shares of company stock worth $1,525,804 in the last quarter. 5.20% of the stock is owned by company insiders.

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.