IonQ, Inc. (NYSE:IONQ) Shares Sold by Acme LLC

Acme LLC decreased its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 82.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 407,504 shares of the company's stock after selling 1,945,671 shares during the period. IonQ accounts for 52.1% of Acme LLC's investment portfolio, making the stock its biggest holding. Acme LLC owned approximately 0.19% of IonQ worth $17,021,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Pathway Financial Advisers LLC bought a new position in IonQ during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after acquiring an additional 501 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in shares of IonQ in the 4th quarter valued at $33,000. Golden State Wealth Management LLC acquired a new stake in shares of IonQ in the 4th quarter valued at $34,000. Finally, City State Bank bought a new stake in shares of IonQ in the 4th quarter worth about $36,000. 41.42% of the stock is currently owned by institutional investors.

IonQ Stock Up 1.9 %

NYSE IONQ traded up $0.54 during trading hours on Friday, hitting $28.93. The company's stock had a trading volume of 27,604,826 shares, compared to its average volume of 16,072,209. The stock has a fifty day moving average of $24.73 and a 200 day moving average of $29.26. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The firm has a market capitalization of $6.45 billion, a P/E ratio of -35.72 and a beta of 2.50.

Insiders Place Their Bets

In other news, CRO Rima Alameddine sold 20,047 shares of IonQ stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total transaction of $372,272.79. Following the transaction, the executive now directly owns 572,568 shares of the company's stock, valued at $10,632,587.76. This trade represents a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William F. Scannell acquired 93,066 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $21.81 per share, with a total value of $2,029,769.46. Following the transaction, the director now owns 135,047 shares in the company, valued at $2,945,375.07. This represents a 221.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 2,033,166 shares of company stock worth $38,059,593. Insiders own 11.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IONQ shares. Benchmark reduced their price target on shares of IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday. 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 report on Friday, January 10th. DA Davidson dropped their price target on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $54.00 target price on shares of IonQ in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $40.80.

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.