Levin Capital Strategies L.P. Lowers Stock Holdings in IonQ, Inc. (NYSE:IONQ)

Levin Capital Strategies L.P. trimmed its position in shares of IonQ, Inc. (NYSE:IONQ) by 94.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,236 shares of the company’s stock after selling 620,396 shares during the quarter. Levin Capital Strategies L.P.’s holdings in IonQ were worth $1,514,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IONQ. Flaharty Asset Management LLC boosted its stake in shares of IonQ by 1,244.2% in the 4th quarter. Flaharty Asset Management LLC now owns 5,713 shares of the company’s stock valued at $239,000 after buying an additional 5,288 shares during the period. Jacobi Capital Management LLC purchased a new position in shares of IonQ in the 4th quarter valued at about $512,000. US Bancorp DE boosted its stake in shares of IonQ by 219.5% in the 4th quarter. US Bancorp DE now owns 5,112 shares of the company’s stock valued at $214,000 after buying an additional 3,512 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of IonQ in the 4th quarter valued at about $2,352,000. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of IonQ by 276.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 159,385 shares of the company’s stock valued at $6,658,000 after buying an additional 117,010 shares during the period. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Benchmark decreased their price objective on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday. DA Davidson upgraded IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Craig Hallum lifted their price objective on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Needham & Company LLC restated a “buy” rating and set a $54.00 target price on shares of IonQ in a research note on Thursday. Finally, The Goldman Sachs Group boosted their target price on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, IonQ has a consensus rating of “Buy” and an average target price of $44.80.

Insider Buying and Selling

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the transaction, the chief financial officer now owns 926,114 shares of the company’s stock, valued at $27,524,108.08. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the transaction, the chief executive officer now directly owns 414,363 shares in the company, valued at approximately $12,319,011.99. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,223 shares of company stock worth $1,314,652 over the last 90 days. 11.60% of the stock is owned by insiders.

IonQ Stock Down 1.3 %

IONQ stock opened at $24.60 on Friday. The business has a 50 day moving average price of $38.59 and a 200 day moving average price of $24.88. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of -30.37 and a beta of 2.41. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

IonQ Company 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.