BI Asset Management Fondsmaeglerselskab A S Acquires New Position in IonQ, Inc. (NYSE:IONQ)

BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 63,056 shares of the company's stock, valued at approximately $2,634,000.

Other hedge funds also recently bought and sold shares of the company. Pathway Financial Advisers LLC bought a new stake in shares of IonQ during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC increased its holdings in IonQ by 421.0% in the 4th 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 last quarter. Golden State Wealth Management LLC purchased a new stake in IonQ in the 4th quarter worth $34,000. City State Bank bought a new position in shares of IonQ during the 4th quarter valued at about $36,000. Finally, Hemington Wealth Management purchased a new position in shares of IonQ during the fourth quarter valued at about $37,000. Institutional investors own 41.42% of the company's stock.

IonQ Trading Up 7.8 %

NYSE:IONQ traded up $2.10 during midday trading on Thursday, hitting $28.90. 13,309,365 shares of the company traded hands, compared to its average volume of 23,569,283. The firm has a market capitalization of $6.44 billion, a P/E ratio of -35.66 and a beta of 2.50. The firm's fifty day moving average is $25.01 and its 200-day moving average is $29.00. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74.

Insider Buying and Selling at IonQ

In other IonQ news, Director William F. Scannell bought 93,066 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the transaction, the director now directly owns 135,047 shares of the company's stock, valued at approximately $2,945,375.07. This represents a 221.69 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Hume Chapman sold 2,000,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total value of $37,440,000.00. Following the transaction, the insider now directly owns 414,363 shares in the company, valued at approximately $7,756,875.36. This represents a 82.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,033,166 shares of company stock worth $38,059,593 over the last quarter. Insiders own 11.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IONQ. Needham & Company LLC reissued a "buy" rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. The Goldman Sachs Group raised their target price on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Benchmark decreased their price target on shares of IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, DA Davidson reduced their target price on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.80.

About IonQ

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.